Time for Escrow! Here’s Our Tips for a Smooth Transaction
If you’re new to the title and escrow game, then you’ve come to the right place.
Here at Alliance Title, we take pride in providing the best closing experience for everyone involved – that means agents, lenders, and their customers. In order to help throughout this transaction, we thought it would be best to outline some quick tips and tricks that can ensure a smooth and easy transaction.
Provide the following to your escrow team:
- The completed and signed Earnest Money Agreement (EMA). Be sure the EMA is legible.
- All addendums to the EMA.
- A commission verification form.
- Phone numbers, email addresses, and/or fax numbers for your clients and/or the lender they are using.
- Any additional insight or information regarding your customer(s) that may help make the process go without a hitch the day of closing – such as:
- The need for a translator;
- If they are visually, audibly, or physically impaired;
- If they require separate signings (i.e., divorce)
- Homeowner’s association contact information
Other quick tidbits:
- Carefully review the title commitment – if any questions arise, contact your escrow team ASAP!
- Encourage the seller to:
- Provide payoff authorizations promptly.
- Review their state withholding requirements with their account (if applicable).
- Encourage the buyer to:
- Show for the best homeowner’s insurance rates and options promptly.
- Notify your escrow team immediately should an issue or problem arise before the closing date.
Check out Alliance Title’s full Client-Resource Guide to get everything you need before the closing date!