During a time when the Real Estate market was HOT, escrows were known to be pretty smooth. For those of you who don’t know, Escrow is the process that transfers ownership between buyer and seller when the seller has finally accepted an offer. During the peak of the market, the escrow would usually close in 30 days as long as all paperwork was submitted by the seller’s agent, as well as the buyer’s agent. Now days, it can take up to 3 months for an escrow to close, if it even closes at all. As a seller, buyer and even a Real Estate Agent, there are many ways to insure a smooth closing.

If you are someone who is thinking of selling your home, if you haven’t done so already, the first thing you need to do is select a licensed agent to represent you. Use them as a guide to steer you in the right direction, and to insure a smooth closing. If you try to do this on your own, you will probably face a lot of difficulty. Even as a buyer, selecting an agent is number one. The agent in turn, will assist you in selecting the right escrow company for the sale of your home.

The most common cause of a delay in closing an escrow, is that paperwork is often missing either from the buyers side or the sellers side. It is very important that you pay attention to dates when documents must be signed and returned. Also, double checking that all signatures are where they need to be. One signature can hold up the escrow. This also applies to loan docs. It is very important to double and triple check that all needed signatures are in the correct places. Your agent and or escrow officer should assist you in ALL of your paperwork. Should you have legal question, you will have to consult an attorney.

Make sure if you have any problems or things that need to be disclosed about the property, make sure to disclose them as soon as possible. If you do not, you can cause the escrow to bomb, causing you more problems in future sales. Problems such as bad credit, liens, judgments or, even defects with the home. Honesty is definitely the best policy because anything that goes unsaid will come up eventually. If you are honest with your agent, they may be able to help you through any problems that you may be facing. Any defects with the home will most likely come up during any inspections. If anything is not visible, it is very important to notify all parties of anything that you are aware of.

You also want to make sure to be in contact with your agent and escrow officer when necessary. They both will probably be contacting you multiply times during the transaction, and communicating with them is very important. They may need extra paperwork signed right away, or maybe missing a signature. Whatever the case maybe, do not let their calls go unanswered or unreturned.

If you follow these simple steps, you can insure yourself a smooth closing. With a smooth closing leaves happy people.

www.homesinsale.com

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About the Author:

Yanni Raz is a mentor for many in the Real Estate Mortgage industry, Yanni Raz is been tutoring many homeowners in California and help some also to save their homes. http://www.homesinsale.com

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