Preparing for a Successful Escrow

By
Real Estate Agent CA BRE#01233781

 

Successful negotiations are the result of a “win/win” approach. Both the seller and buyer need to feel that they have accomplished most of their goals. To guide clients, the agent should understand the terms and conditions prevalent at the time of the negotiations. The client must understand what is happening in the marketplace with other properties and how that will impact buyers bidding on their home. I will always get as much background on a buyer from their agent when I receive an offer. Who are they? Where do they currently live? Why are they moving? Have they made offers on other properties? Have they been in escrow for other properties? If so, what happened that caused the escrow to cancel? Selecting the right buyer will establish a positive climate for the escrow period, resulting in a successful close.

 

It is my goal to prepare a seller for possible issues that might arise during the sale process. I always want to minimize any confusion on the process and their role. Typically, sellers do not go through the process of selling their home very frequently, so the process changes with new forms, regulations and requirements that have been put in place since their last sale. Minimizing the disruption to my clients normal routine is my goal. I request that sellers complete disclosures and paperwork in a timely manner, to avoid any eleventh hour problems. Selling your house can be a huge time commitment if not done correctly and I want to remove the burden of the process from them, so they can continue their life as usual. Having disclosures and inspections done in advance will also provide the information to buyers before they write an offer and certainly, during a counter offer period. The more comfortable a buyer is with a property in advance of opening escrow, then the more likely the transaction will have a smooth and successful result.

 

Comments (2)

Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Darrell,

Knowing what the requirements are on both sides of the transaction will insure a smooth escrow. I have tried to get all issues taken care of even before it opens as you indicated we should. Great suggestions... Have a great day.

Aug 19, 2014 05:35 AM
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Everyone must work together and cooperate for a successful escrow. Most often both sides will also have to compromise in order to have a smooth transaction.

Sep 04, 2014 10:34 AM