mike@mikenorton.com

MIKE NORTONMIKE NORTON

Your Local Realtor

5625775021
mike@mikenorton.com
  • Menu
  • Home
  • About
    • Testimonials
  • Featured
  • Historic Districts
  • Buyers
    • Buying Vs. Renting
    • Advanced Search
    • Map Search
    • Mortgage Calculator
  • Sellers
    • Home Valuation
    • Marketing Plan
  • Schools
  • Contact
  • Blog

How to Streamline the Escrow Process and Prevent Closing Delays: 5 Simple Steps

Escrow is not fun for anyone involved – buyers nor sellers. It can be a stressful time of waiting and feeling unsure about how things will go moving forward.

With that said, escrow is a vital part of the home buying process. It protects everyone involved in the transaction and prevents any long term negative impacts of a deal gone wrong.

Ideally, escrow will be as expedient as possible. If the process drags on, other issues have room to pop up. The interest rate could rise, stricter lending regulations might go into effect, employment status could change, or even damage to the home could occur.

Getting in and out of escrow quickly is possible. Follow these five steps to keep your escrow on schedule and prevent delays in closing.

 

 

View this post on Instagram

 

A post shared by debt free new yorker ✨ (@yogibudget) on Nov 24, 2019 at 3:57am PST


Secure Finances First
Do not fall into the trap of wildly making offers without preapproval from your lender. Entering escrow without your financial backing in order is a recipe for a broken deal. Take the time to get approval and know how much you can actually offer on a home. It will save a lot of heartache in the long run.

 

 

View this post on Instagram

 

A post shared by Ackerman Home Inspections LLC (@russ_ackerman) on Nov 23, 2019 at 5:41am PST


Have Inspections Scheduled
Escrow is often held up by missing inspection reports. Have your ducks in a row and reliable inspectors for termite, general, and roof inspections. Any hold up in the reports will result in a delay during escrow.

 

 

View this post on Instagram

 

A post shared by Greater Sudbury Police Service (@sudburypolice) on Dec 17, 2018 at 10:09am PST


Obey the Letter of the Law
You will get directions from multiple entities regarding things you need to do during escrow. Follow the instructions exactly as they are written. Get requested documents to the requestor immediately and check in with your escrow officer regularly to see if anything else is needed.

 

 

View this post on Instagram

 

Today on the blog we’re talking about budgeting for couples! Communication is keyπŸ’š β€” Link in bio to read more!πŸ”— β€” #thefinancialgym #financiallyfit #couplesbudgets #budgeting #planforthefuture #relationshiphacks

A post shared by The Financial Gym (@thefinancialgym) on Oct 9, 2019 at 5:14am PDT


Think Ahead
The day of closing is not the time to come up with questions you have for your real estate agent or any other party involved. Think ahead about any concerns you may have and try to get answers before closing.

 

 

View this post on Instagram

 

A post shared by π—‘π—²π˜ƒπ—Άπ—»π—² π—žπ˜‚π˜π˜‡ (@indian_wells_properties) on Nov 21, 2019 at 9:17am PST


Experience is Invaluable
It is highly recommended that you shop around for your escrow company. Do not stop at simply deciding which one is more economical. Seek out a company that has a great reputation for their service and ability to get closing done fast. It may be worth paying a little extra to get the best service.

 

Posted in: Blog

Post navigation

« New Year’s Resolutions That Will Help You Buy a Home in 2020
Five Favorite Long Beach Neighborhoods »

Affordability Calculator

Monthly Gross Income $
Monthly Debt Expenses [?]

Monthly Debt and Obligations Should Include:

  1. Monthly Credit Card Payments
  2. Monthly Auto Payments
  3. Monthly Child Support
  4. Monthly Association Fees
  5. Other Monthly Obligations, but NOT utility bills.
$
Down Payment: $
Interest Rate: %

Contact

Mike Norton

mike@mikenorton.com
5625775021

KOHR GROUP REALTY

5222 E Los Altos Plaza
Long Beach, Ca 90815

Broker Lic#00975141

© 2023 Β· Kahlo Creative
Mike Norton |Β Kohr Group Realty Β | DRE#00975141

Log in