Here are a few tips for buyers that are going through the escrow process. The escrow process can seem confusing, but in reality it simply needs to be gone through step-by-step.
- Figure out your real estate agent’s role and how much of a responsibility they are going to take on.
- Complete your title and tenancy documents.
- Give your identifying information to the escrow company.
- You may need special consideration if you’re doing a 1031 exchange.
- Likewise, you should let the escrow company know if you’re attempting to sell a home while buying another home.
- Read and sign all the documents given to you by the escrow company.
- Give the escrow company all applicable information about your loan.
- Get your escrow agent’s contact information and your escrow number.
- Apprise your mortgage company, escrow company and real estate agent of any travel plans.
- Look through the preliminary title report carefully, as it may reveal very important information about easements or encroachments.
- Attend the final document signing and read over the documents thoroughly before signing.
- Transfer the relevant funds using either a wire transfer or cashier’s check.
For more information and insight into the escrow process contact the escrow experts at Brighton Escrow, serving the escrow needs of the South Bay area.
