Make Your Way Through Escrow

 

Escrow can seem like a slightly nerve-racking time in the real estate process. When you are in escrow, you are really only half way to the finish line. You are still holding your breath, hoping that everything really works out.

The main key to making your way through escrow and into your new home is to make sure that every piece of paperwork is correct. You want to read everything thoroughly. Don't sign anythign you don't understand. If you are confused, have your lawyer sit in and represent you and your best interests throughout the transaction process.

Do not sign escrow papers until you understand what responsibilites they bring and what the transaction will cost.

In real estate, the escrow is an important part of the transaction. Because buying a home is a big deal, escrow can seem a little scary. You have to be prepared for it. It provides for a fair transfer of the property from one owner to another.

However, real estate transactions can often become quite complicated. Escrow is not always a step-by-step process. It can actually be quite confusing. It is often considered the most complicated part of the transaction.

In order to make things easier on all involved, I suggest that you work with a certified escrow professional who works for an escrow, title company, legal firm or other agency that is licensed by the state to conduct escrow proceedings. Talk with your friends and family for recommendations to companies that have provided excellent escrow services.

Buying a home is the time to be honest. Be upfront about everything. If you have uncertain credit, let the lender know that ahead of time. They will assist you in getting everything in order. If you are a seller, you need to tell the escrow officers about any known judgements or liens on the proeprty.

While in the escrow process you need to be accessible. Make sure that the transaction parties are able to reach you when they need to. Be timely in answering messages and fulfilling the requests of the escrow agents.

Make sure that you have homeowners' insurance coverage secured when you open the escrow process. It should take affect the day you close on the home.

Getting through escrow is a wonderful feeling. Many of us often forget what it is like to buy a new home. That is until we get to the waiting part of escrow.

Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!