Follow These Essential Tips to Maximize Your Chance of Success During the Escrow Process
If you’re buying or selling a property, follow these ten tips to ensure that your escrow goes as smoothly as possible. At Neighborhood Escrow, we also offer escrow resources in the event you have further questions. You can also call us at 310-378-2456.
- Work with a licensed Realtor who is qualified to represent you.
- When selling a property, avoid unpleasant shocks or delays by providing all relevant information about yourself and your house that may cause delays.
- Buyers, get pre-approved. Many applicants nowadays obtain pre-approval from their lender before searching for a house. This reduces the likelihood of delays and disappointments.
- Be responsive. The escrow officer may contact you on a regular basis to seek information. There is always a reason for the request; provide the information to them as quickly as possible.
- Be patient. When it comes time to sign loan paperwork, you’ll need to meet with an escrow officer or a Notary. Each document you must sign will be explained by the escrow officer.
- Keep in mind that everyone who is going on title must sign all paperwork.
- Confirm that you have an insurance agent and that you have discussed your fire insurance requirements with him or her. Tell your escrow officer who you’ll be utilizing for insurance well before the escrow closes.
- Walk-throughs, inspections, and other contingencies, such as termite inspections and work completion requirements, are essential to the transaction and must be completed promptly, since they might delay the closing.
- Bring the following items to your signing appointment to speed up the escrow closing: Sellers and Buyers: Passport or Driver’s License (valid photo ID).
- A wire transfer is required for any and all funds required to close your escrow. A cashier’s check will be accepted with a 10-day clearance time. Most real estate transactions include a large number of persons. To guarantee a successful escrow closure, all of these parties must work together and communicate. A good attitude and a prompt answer to any requests will promote collaboration. Many factors might cause an escrow to be delayed; be sure you aren’t one of them.
These are just some of the tips you can follow to increase the chance that you will have an entirely positive escrow experience. Well before the closing, we will get you or your real estate agent a escrow checklist to ensure you know exactly what is required of you.