The Escrow Process
Service To Clients While The Property Is Under Contract
- Call or email the sellers to keep them informed.
- Call the other agent, the lender, the escrow officer as needed to keep all parties informed.
- In compliance with the purchase contract, instruct the escrow agent to open and draw documents.
- Ask escrow agent to keep brokers informed directly of all transaction activity.
- Monitor transaction for timely completion of all contingencies including, but not limited to, deposits, inspections, and loan contingencies.
- Arrange for the buyers’ inspection appointments.
- Assist sellers in obtaining estimates of any work needed.
- Monitor status of buyers’ loan and report to sellers.
- Follow progress of title transfer.
- Monitor progress of buyers’ fire and/or flood insurance.
- Anticipate and assist in solving any special problems associated with the sale of the property.
- Coordinate any other activities relating to the sale of this property.
- Coordinate closing logistics including final closing, appointment and moving arrangements.
- Monitor buyers’ deposit of funds and signing of all final documents.
- Personally inform sellers when the property has closed/recorded.
- On moving day, transfer keys and garage door openers from sellers to buyers.
- Follow up with sellers to make sure they have received all final documentation.
- Follow up and advise on delivery of proceeds.