A summary of the escrow process to guide you with your home-buying journey.
Are you finally opening an escrow on your new home? If you are, then we want to congratulate you for reaching this stage in your home-buying journey! Today, we’ll run you through what happens next so that you can confidently move forward through this process.
During the first days of escrow, we may send you some emails, DocuSign attachments, and other paperwork to ensure that you have everything you need for the initial process of the escrow. You’ll also receive an encrypted email or phone call from the escrow company asking for the wire or providing you with the wire information. Be on the lookout for their call as this is normally due within three days of a contract.
From there, you’ll receive a call from us wanting to schedule inspections. We generally get that general inspection booked right away. After that, you’ll receive a package from escrow that will outline the entire transaction. As we all understand it, that will be signed and you need to return that back to escrow.
Once the inspections are completed and we have all the reports back, we decide whether you don’t need to request for repairs or not. If there was a request for repairs, we determine the major safety structural mechanical items that are important to address in the transaction and present that to the sellers.
Sometimes we get credits, sometimes they repair things, and sometimes it’s a combination of the two. After that, we’ll update you through all the major escrow hurdles and answer any of your questions. Also, keep in mind that when you see anything that has a DocuSign link to it, make sure you click on those, review them, then sign right away.
If you’re obtaining a loan, have your lender contact us as soon as possible, so we can get them the original contract and link them up with that escrow. If you need any vendors, we can help you efficiently and quickly get the best pricing and the best timing.
These are just some of the things that we do for you to make the transaction successful. Call or email us if you want to learn more about this topic. We’d love to help!