Review This Simple Escrow Checklist for Sellers
Selling a home may not be simple but it does not have to be difficult. Once you have accepted an offer from a buyer, there are still many steps to take but we can help you. Read on to discover what to do before going into escrow and what to make sure you check off while in escrow. Then contact Neighborhood Escrow at 310-378-2456 with additional questions.
What to Do Before Going into Escrow
Before we discuss what to do once in escrow, let’s discuss what to do before you go into escrow. First, review all the offers available to you. Remember that the price offered may not be the only consideration – you may also want to consider whether or not a buyer has been pre-approved, whether they can pay cash, etc. Review all the terms and consider which is best for you, then accept the right buyer’s offer to buy your home.
The California Home Seller’s Escrow Checklist
This is a list of things you will need to do during the escrow process. Note that not all of these may apply to you and this is not a comprehensive list that covers 100% of what you must due. Note as well that you should always follow the advice of your individual escrow officer as they are familiar with the unique aspects of your sale.
- Verify the escrow company got the offer to purchase.
- Ensure the escrow company is in receipt of the earnest money deposit.
- Get a prequalification letter from the potential buyer.
- Get a proof of funds that is enough to close from the buyer.
- Review all instructions as provided by the escrow company.
- Call the escrow company to clear up any confusion.
- Complete your sellers disclosure packet and give to the buyer or their agent.
- Verify escrow has the title report, HOA docs, and other docs are required.
- Verity that the buyer has scheduled their appraisal to ensure that the appraisal contingency will be removed.
- Verify that the loan is on track as expected.
- Work with the buyer to have inspections scheduled.
- Complete paperwork from the escrow company as required.
- Respond to buyers’ requests for repair after the results of the inspection come in.
- Make sure you have the signed copy of the Seller’s Disclosure from the buyer.
- Review estimated closing costs and ensure they are understood and accurate.
- Schedule and hold the final walk through with the buyer.
- Confirm that everything is set with the escrow company.
Many of these steps will be covered either by your real estate agent or your escrow officer. However, it is a good idea to know what the required steps will be. If you have additional questions, contact Neighborhood Escrow at 310-378-2456 as soon as possible.
