Happens During Escrow?
Upon acceptance, these
are the typical steps to complete your transaction:
- Escrow instructions are drawn by a mutually agreed
upon company and distributed to both parties which
outline all main points of the transaction and create
a calendar of contingency dates that must be met
by both Buyer and Seller.
- All Federal and State required disclosures must
be completed by Seller & delivered to Buyer
within the stated time frame.
- Coordinate and attend all Buyer’s inspections
and investigations of property.
- Handle any subsequent negotiations that may arise
as a result of any Buyer’s inspection or investigation.
- Schedule termite inspection and (mandatory) retrofitting
inspection and work as needed.
- Coordinate appointment with appraiser and provide
comparable sales and pertinent documentation of
improvements confirming the values of your property
to properly facilitate the loan process.
- Monitor all activity throughout escrow process
ensuring contingencies are removed as scheduled.
- Stay in constant communication with lender regarding
preparation and processing of loan documents leaving
enough time between signing and closing of escrow.
- Follow up with Buyer/Seller to ensure moving
to or from property is coordinated.
- CLOSE THE ESCROW!