What Is My Role In Escrow?
Both buyers and sellers have responsibilities during the escrow process and must do their respective parts to keep the transaction moving.
The Sellers:
• Carry out all escrow instructions.• Provide the deed, via the escrow officer and listing agent.
• Submit all other required paperwork as outlined in the Purchase Agreement, such as insurance policies, home warranties, tax receipts, etc. (The settlement agent will provide clear instructions on what is needed.)
The Buyers:
• Submit a down payment, plus any other funds required.• Carry out all escrow instructions.
• Approve inspection reports, preliminary title reports, and other items detailed in the Purchase Agreement.
• Execute a Deed of Trust/Mortgage to secure the loan.
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Aaron Jones
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Beware the (I'll get your home sold in a week) agent
I hear this one all the time from prospects looking to list their house. "Well, agent xyz told us that if we listed with her, she'd have it sold in a week." This would fall into the category of "If it sounds too good to be true, the probably is." The majority of agents are not going to make this claim, but rather will give you an honest market analysis, inform you as to how weak or strong the market is, especially the market in which your home resides, and present the objective facts. A good agent will then lay out an effective marketing plan, where the majority of the focus should be on "online marketing". Be careful to not get caught up in empty promises, reduced commissions, and being talked in to lowering your price below market value (unless you must have a quick sale). The key to choosing a good listing agent is to objectively determine who is going to provide you the best opportunity to sell your home. Will your listing agent also aggressively work to find buyers, or will they just list your home and wait for another agent to do the work.