Home buying and home selling is a process. On the buying side is credit checks, banks, pre-qualification, research on just the right neighborhoods. On the selling side its inspections repairs, painting, sprucing, and waiting. Then one day it happens. A house is selected; an offer is written, and accepted. Both parties are elated. But wait – there’s more to do. Before escrow is opened, be sure you have ALL your ducks in a row!
Escrow is a process. It involves the expertise and effort of a team of people. There are laws and rules and regulations that must be followed to ensure a smooth, timely, and legal transfer of title from seller to buyer. Misinformation or a lack of information can put a wrench in the whole thing, send up red flags, and cause lengthy and costly delays.
Here are some essential but often forgotten questions that must be asked of both buyers and sellers entering the home buying or selling process. The sooner your realtor and escrow officer are aware of these items, the sooner they can be resolved, and escrow can be closed. No realtor or title officer wants to hear the dreaded “Oh, by the way…..” Please help us help you.
Linda Centoni of North American Title advises answering these questions ahead of time:
Is there a Homeowners Association attached to this property? Are the dues delinquent or current?
Does the buyer or seller have any state or federal tax liens?
Do all principal buyers and sellers have a valid photo ID and /or driver’s license?
Will this transaction involve a short sale?
Is there a Homeowners Association? Are there any delinquencies?
Will there be any entity formed, i.e., partnership, corporation?
Has there been a change in marital status of any of the vested owners?
Are all principal buyers and sellers residents of California?
Will the buyers and sellers be utilizing a Power of Attorney?
Have the buyers or sellers recently filed for bankruptcy?
Is the buyer or seller subject to child or spousal support payments?
Is anyone of the trustees of the trust deceased or incapacitated?
While these questions may seem random or remote, they have a direct relation to the title process. Remember – the sooner your realtor and title officer know about these types of things, the better they can prepare for and resolve them during the title/escrow process. We have been buying and selling San Ramon homes for 15+ years. As the years go by, we learn from the missteps of past transactions, and are able to be more proactive to achieve smoother closings. That’s why it’s best to go with a local experienced realtor. Call, text or email us today! We help you get your ducks in a row, ask all the right questions and get you on your way in or out of your home.