How to Speed Up Your Next Escrow

To help speed up an escrow, the following things, which are necessary to the escrow, should be furnished at the outset:

1. Correct legal description of the property. (Take Property Profile with you to open escrow!)

2. Correct street address: re: number, Avenue, Drive, Street, etc.

3. Full names of parties involved in the escrow (initials are not enough; also, if a married couple is involved, the first name of the wife as well as the husband is essential).

4. Information as to how the buyer(s) want to take title.

5. Names of all lien holders, both Mortgage Companies and private parties. Needed: company name, number, address, telephone number and approximate unpaid balance.

6. Terms of new encumbrances OR terms of existing encumbrances.

7. Fire insurance information - New policy or assuming existing policy.

8. Current tax bill for pro-ration purposes.

9. Rental statement - list of tenants, their rental amount, and any security deposit.

AFTER YOUR ESCROW IS OPEN

1. When calling your escrow office, have your escrow number, and buyer and seller's names.

2. Keep your escrow officer informed on any matters that may effect your closing.

3. Take care of the termite report - if you are the listing salesperson.

4. Take care of the insurance policy with the buyers, if you are the selling salesperson.

The more information you make available to your escrow officer, the smoother your escrow will go and the sooner it will close.