Commercial Escrow
Commercial Loan Refinance
Escrow support for commercial loan refinance transactions.
Overview
A commercial refinance follows the same basic pattern as a residential one: pay off the old loan, record the new one, and make sure the timing lines up so there's no gap in the lien position. What's different is the paperwork behind it. Commercial lenders typically require more detailed loan documentation, and the borrower is often an LLC, partnership, or corporation rather than an individual, which adds entity verification into the mix.
It's also common for a commercial refinance to touch more than one property at once, especially when a borrower is consolidating debt across a small portfolio or pulling equity from one asset to fund another. Escrow has to track payoff statements for each existing loan, coordinate signing for the new loan and any entity documents the lender requires, and make sure every new lien records in the right order once funding is complete.
We work directly with your lender to keep that process moving, and we flag anything in the payoff or entity paperwork that doesn't match what was expected before it holds up your closing date.
How It Works
- 1
Escrow opens once your lender approves the refinance and orders escrow/title services.
- 2
Escrow orders payoff statements for existing loans.
- 3
Escrow coordinates signing of new loan and entity documentation.
- 4
Escrow disburses payoffs and funds the new loan.
- 5
New liens are recorded and escrow closes.
Frequently Asked Questions
Can escrow handle refinances involving multiple properties?
Yes, this is common in commercial refinances. Your escrow officer will coordinate the full set of payoffs and new liens involved.
What entity documentation is typically required?
This varies by lender and entity structure (LLC, partnership, corporation); your lender and escrow officer will confirm what applies to your transaction.
Who orders the payoff statements?
Escrow typically orders payoff statements directly from your existing lender(s) once refinance escrow opens.
Ready to open your escrow?
Talk to a team with 25+ years of experience, every time.
Contact Our Team