Final answer:
The closing of a home purchase in California involving a bargain and sale deed is often facilitated by an escrow officer or escrow company, who ensures the security of the buyer's funds and smooth transaction execution, including payment of home insurance and property taxes.
Step-by-step explanation:
In California, when a couple is completing the purchase of a new home with a bargain and sale deed, the closing is typically handled by an escrow officer or escrow company. This is because escrow services play a critical role in real estate transactions in the state.
An escrow arrangement ensures that the buyer's funds are secured and the transfer of the property is done smoothly. The escrow company acts as a neutral third party that holds the buyer's money and facilitates the payment of necessary expenses such as home insurance and property taxes, often as part of the buyer's regular monthly mortgage payment. Once all the terms of the sale are met and the deal is ready to be closed, the escrow officer will finalize the transaction and record the deed, marking the official transfer of ownership.