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  Close of Escrow Day There are a few things to keep in mind on the date that escrow is to close, one is that it may not close on time! For example if the buyer is slow in supplying their new homeowners insurance information to escrow, this is one of many things that can delay your closing until the next business day. This is a common occurance. A few days before the close of escrow date, as agreed upon by both parties in the contract, check the commitment letter you received from the buyers lender and make sure all the lender required conditions have been met. If not, be proactive and find out when the buyer is going to get these conditions. The buyers loan agent/consultant has this information, but may not return your call since they work for the buyer and not you, so that means you may need to call the buyer directly, or their Realtor if they are using one and request the lender loan commitment document. Make sure your schedule is flexible the day before and the day of closing in case there is a last minute document that needs signing at escrow. If the closing of this escrow is tied the closing of escrow for another purchase on another property, check with your escrow on the property you are selling is in synch with the escrow company (probably a different company) and that funds will be wired on time from the escrow company being used on the sale of your home, gets to the escrow company being used on the purchase of your next home. Often times wiring instructions are missing, or if the property is out of state, a time zone change can cause a delay. Iron out the wrinkles and make sure the escrow companies have each others information for communication purposes. Keep in mind lenders are being very conservative in todays real estate market. Expect the unexpected, be flexible and patient, but persistent, you're almost to the finish line! The day of or day before closing, agreed upon in the sales contract, you will also be allowing the buyer to do a final walkthrough on your property. The buyer will make sure any "fix its" have been completed as per the home inspection agreement. If they aren't fixed, the buyer can instruct escrow to not allow the loan to fund, or you may have to do a last minute credit which may have to be approved by the lender and escrow, so make sure the "fix its" are out of the way! :: View Properties For Sale :: Homebuyer Education :: Prequalification Form :: Buyer's Resources :: Set Appointment To See Property :: Free Marketing Kit Details :: FSBO-Is It For Me? :: Create A Plan :: Escrow Procedure :: Required Seller Forms :: Preparing Your Home :: Marketing Your Home :: Open House Tips :: Close of Escrow Day :: California Purchase Agreement :: FSBO Checklist :: Troubleshooting Problems :: Calculators :: Solutions :: Loan Modification :: Loan Modification FAQs :: Library :: Glossary :: Schools :: Weather :: Clarion Mortgage- 15 Yrs. Experience :: NIS Insurance Solutions :: Home Staging :: An Equal Opportunity Company. Equal Housing Opportunity. All rights reserved. 
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