Despite its importance in the process of buying and selling real estate, there’s surprisingly little information on the escrow process. Escrow agents are like point guards in basketball-;they call plays, keep transactions on track, and organize collective efforts to ensure a favorable outcome. With that being said, below are a few tips on making the escrow process go as smoothly as possible.
Provide Contact Info Right Away
Transaction coordinators and real estate agents should include their contact information so Escrow services in Naples, FL can reach out to involved parties immediately. With this step, the service can proactively communicate with all sides and gather the necessary paperwork. The contact list should include all sellers and buyers, their respective lenders, the title company, and transaction coordinators.
Finish Documentation
At this point in the escrow process, the purchase agreement should be completed and signed. The escrow service will need HOA (homeowner’s association) contact information if the home is in an HOA neighborhood. In many cases, the escrow service is not aware of a second HOA, and the lack of awareness can cause problems at closing. The more information is provided in the beginning, the simpler the entire process will be.
Stay Local and Remain Accessible
During the escrow phase is not the right time to go on vacation. When the escrow agent emails or calls, the quicker the party responds the more energy and time are saved. Sellers and buyers should regularly check email and voicemail during this stage in the transaction, and they should respond to vendor requests in a timely fashion.
Ask Questions
Buyers and sellers should ask plenty of questions during the escrow process. In most cases, the service moves through their checklist rather quickly, but they are always ready to answer questions. Escrow services in Naples, FL appreciate clear communication from buyers and sellers regarding their preferences, especially where document signing is concerned.
An escrow partnership is a critical part of the transactional process. At Omega Title Group, the team works with real estate agents to ensure they deliver a simplified, convenient escrow experience for all of the area’s buyers and sellers.
