Closing Escrow: What to Expect
Filed under: Home Tips
You’re ready to buy a home: nearing the finish line to sign the paperwork and get the keys. As you approach closing, it’s important that you understand the anticipated timeline because there are multiple factors that can affect the finalization of this deal. Preparation, a trusted real estate agent, and a good financing team will help you avoid common pitfalls.
What to Know about Escrow
In most cases, escrow will close within about 30 days. But this timeline is negotiable, which is why it’s essential to consider the needs of both parties.
For example, if you know that the seller wants to move soon, then you might make your offer more appealing by suggesting a shorter timeline of 21 days. Or, if the seller needs a little more time and you are flexible with the move, then you can suggest a longer timeline, such as 45 days.
Talk to your real estate agent, gather information from the other party, then leverage escrow timelines to strengthen your offer. This is a great strategy in our current competitive market to get an advantage over other buyers.
Escrow Adjustments for Each Deal
While a 30-day escrow is most common, don’t assume that you have to stick to this timeline for every deal. There are flexible options to negotiate these terms, which is why it’s smart to find the ideal solution for both the buyer and seller.
So, avoid jumping to conclusions about how fast the deal will close. Talk to me and I’m happy to provide personal recommendations that will optimize the overall success of your real estate transaction. In addition to overseeing negotiations, I also offer full-service support required through every step when buying or selling a home.
My goal is to help you navigate current market conditions to find the best solutions available for your unique needs. I invite you to reach out any time if you’d like to talk about current strategies in the local industry. My team specializes in Temecula real estate and we’re here to answer your questions. Call, text, or email me at (951) 473-0390 or [email protected].