Buying or selling a home, here are ten steps to make sure things run smoothly in your escrow:
- Select a qualified licensed Realtor to represent you.
- Choose an Independent Escrow Provider – Like EscrowNet! Remember only independent escrow providers licensed by the California Department of Corporations are 100% neutral third parties. ESCROW IS THEIR ONLY BUSINESS!
- Sellers: Eliminate surprises or delays – Provide all pertinent information on you personally and about your home that could cause delays.
- Buyers: The Power of Pre-Approval – Today, many borrowers go through a pre-approval process with their lender before looking for a home. This helps eliminate delays and disappointments.
- Be responsive – The escrow officer may periodically contact you requesting pertinent information. There is always a good reason for the request, get them the information as soon as you can.
- Be patient – You will need to meet with an escrow officer or Notary when it is time to sign loan documents. The escrow officer will go through and explain each document you must sign.
- Remember: All persons going on title will need to sign all documents.
- Insurance – Make sure you have an insurance agent and have addressed your fire insurance needs with him or her. Inform your escrow officer well in advance of the escrow closing date who you are using for insurance.
Walk-through’s, etc. – Walk-through’s, inspections, and other contingencies such as termite inspections and completion of work requirements are critical to the transaction and need to be handled in a timely manner, as they can delay the close.
- Documents – To expedite the escrow closing, bring the following items with you to your signing appointment; Buyers & Sellers: Driver’s License or Passport (valid photo ID)
- Funds Needed – Any and all funds needed to close your escrow must be sent via a wire transfer. Cashier’s check will be accepted with a 10 day wait period for clearance. Many people are involved in most real estate transactions. It takes cooperation & communication between all these entities to ensure a smooth close of escrow. A positive outlook & a quick response to anything asked of you will encourage the cooperation. Many things can hold up an escrow – make sure you’re not one of them.