01 Oct Our Pre-Escrow Services Add Value to Your Escrow Experience
At Escrow Trust Advisors, our goal is to ensure that escrow goes as smoothly as possible so that your transaction closes quickly and successfully. And that starts with pre-escrow!
What is Pre-Escrow?
During pre-escrow, our team proactively does their due diligence to complete necessary items that are very helpful to have done before escrow officially opens. This alleviates any challenges that could potentially come about later in the transaction and assists with the short contingency periods that currently exist in the industry.
Our Pre-Escrow Services
This is prepared and provided to sellers and includes a breakdown of sales proceeds, closing costs, and existing obligations during a real estate transaction so that sellers have a clear understanding of how much money they can expect to have when the sale of their home is final. Of course, this is an estimate since things can change through the process – like list price, credit, mortgage payoff, etc. – but it is still an invaluable resource to have.
Statement of Information
The Statement of Information is a one-page document that asks for name, date of birth, social security number, and current and previous addresses for both the buyer/borrower and the seller. This allows our team to clear any potential liens or judgments and avoid delays in closing escrow.
Our team will pre-order and pre-pay for HOA documents early since the delivery time from management companies can vary. This ensures that there are no rush fees or delays at the close of escrow.
Preliminary Title Report Review
This report will receive an in-depth, comprehensive review by your escrow officer so that if there are any red flags, we know about them (and can address them!) as early in the transaction as possible.
We know that escrow requirements and the time-sensitivity involved can feel overwhelming, so we do everything in our power to make the process as easy and stress-free for everyone involved in the transaction.
If you have questions about pre-escrow or any other escrow topic, please get in touch. It would be our pleasure to serve you!