Closing Escrow – How it Works

Filed under: Finances

Tagged with: · · ·

You’re finally reaching the finish line to make your dream become a reality: you are buying a home! All that is left is to sign the paperwork and get the keys. But there are a few things you need to know about the timeline as you are preparing for closing, because there are different factors that can affect how the deal is finalized. You can avoid common pitfalls by leaning on the expertise of a trusted real estate agent and your financing team as well.

How Escrow Works

Usually, escrow takes less than 30 days to close. But you can negotiate this timeline, which is why you need to coordinate this process with both the buyer and the seller.

If the seller wants to move faster than 30 days, then you could craft an appealing offer by suggesting a 21-day timeline to close. On the other hand, if the seller needs a little more time and you have the flexibility, then it might be better to offer more time, such as 45 days.

Get information from the other party and talk to your real estate agent about the best approach. Then, you can use these customized timelines to make your offer stand out from the other potential buyers. This strategy is smart, especially when the real estate market is competitive.

Personalizing Escrow for Each Closing

Even though 30-days for escrow is the most common approach, there is no reason you must stick to this timeline. Ultimately, the best timeline is the escrow plan that suits the needs of both parties.

So, you shouldn’t jump to conclusions about the timeline for when this deal will close. Reach out to me to learn more about your options. I offer customized solutions for every client, helping you optimize the overall outcome when you are buying a home.

Not only do I assist with real estate negotiations, but you can expect full-service solutions from my team. I want to help you navigate the market in the best way possible, no matter the current conditions or trends that are happening in the industry.

When you are ready to buy or sell real estate in Temecula, then call, text or email me at (951) 473-0390 or [email protected]