Earnest Money Escrow Agreement (With Interest: Fill & Download for Free

When you own your home, you are protecting yourself against the inevitable rent increases. Yes, there will be certain repair and maintenance expenses normally paid by the landlord, but you’ll still come out ahead of the game by owning your home rather than renting it.Furthermore, you will be developing equity with each payment you make. If you buy a home for $550,000 (typical Bay Area, right?), the total monthly payment will be around $3,600. At the end of the first year, you will have reduced your loan balance by nearly $10,000. This is a sort of “enforced savings” program as you make your monthly payments. You will also receive some tax benefits from writing off mortgage interest and property taxes. Even though the recently-enacted and ironically-named “Tax Cuts and Jobs Act” limits some of the benefits, you will still receive them. I’d estimate that you’ll reduce your federal income tax bill by around $4,200—but check with your tax adviser to get the specifics.As long as I have mentioned income tax, I should also mention the Mortgage Credit Certificate program (MCC). For a first-time buyer (someone who has not owned their home for the last three years), MCC allows you to claim 20% of the interest you pay each year as a tax credit this means it reduces your tax liability on a dollar-for-dollar basis. There are price and income limitations for MCC, but you should ask your lender if they are familiar with the program and if you qualify.The market today is very competitive. Many properties receive multiple offers, often selling above the listed price. This is a fact of life, and even worse where the down payment is comparatively small, as with an FHA loan (3.5%). Logically, the size of the down payment makes no difference to the seller; they will receive the same amount of cash at closing regardless of the buyer’s down payment. Many sellers—and their agents—believe, incorrectly, that a loan involving a smaller down payment has less chance of getting approved. Because of this belief, if there are two offers for the same price and terms, but one has a larger down payment than the other, that will be the one the seller accepts almost every time. This is a simple fact of life in a competitive real estate market.You can weight the odds in your favor, however. There is no sure-fire, guaranteed approach to ensure that the first offer you make will be accepted, but there are some things you can do.Have a strong preapproval letter from your lender. No seller today will seriously consider any offer that is not accompanied by some assurance from a lender that the borrower is qualified, but there are different degrees of preapproval letters.“Prequal” letter. These are essentially worthless. They are simply an opinion from a loan officer indicating that the buyer may qualify for a loan up to a certain amount“Preapproval” letter. This indicates that the borrower’s file has been pre-underwritten. It should note the specific steps take by the lender: credit report, verification of income and assets and preliminary approval using one of the two common Automated Underwriting Systems (AUS)“TBD” approval, also known as a “credit approval.” This is by far the most effective and persuasive. It means that the loan officer has collected all the documentation needed for loan approval and submitted a complete package to the underwriter even though the property is “To Be Determined” (TBD). This removes most of the doubt a seller might have about loan approvalMake an offer without a loan contingency. A Residential Purchase Agreement (RPA) today contains certain boilerplate language. Some of the most important sections concern “contingencies.” These are conditions that must be satisfied in order for the transaction to proceed. There are contingencies for matters like inspection, appraisal and loan. The buyer must explicitly remove each of these contingencies. The loan contingency says, “This offer is subject to the buyer’s applying for a loan with terms like the following. The buyer shall remove the contingency in nn days.” The loan contingency protects the buyer’s deposit in the event they cannot get the loan.When you make an offer to purchase real estate, you will include a check, usually payable to the title company or escrow holder. This is called the “earnest money deposit” (EMD). The deposit shows the seller that you are “in earnest.” It is also “consideration” (something of value), which is one of the essential elements of an enforceable contract.If you waive the loan contingency when you make your offer, you are risking your deposit; if for some reason you are unable to get the loan, you could forfeit the deposit as “liquidated damages.” A contingency-free offer is very appealing to most sellers, but if you do this, you should be very confident in ultimately getting loan approval.On the subject of EMD: even though technically a deposit of $1.00 is enough consideration for a contract, you should make your deposit as large as you can manage. $5,000 is very common in our area. $10,000 is even better. At the higher end, we may see a deposit of 5% of the purchase price.This may seem nerve-wracking, but keep in mind that you are not risking a penny of the deposit when you make your offer. The check won’t be deposited until the seller accepts your offer, and even then, you have several contingencies in your offer to protect you. Making your deposit as large as you can manage is one way to show the seller that you are truly “in earnest.”Write a personal letter to the seller. This may seem corny and unnecessary, but keep in mind that selling a home is often an emotional process. Writing a personal letter to the seller, telling them how much you love their home and look forward to raising your own family there can tip the scales.We saw the power of the personal letter a few years ago. Our client was buying their home with an FHA loan. The house they fell in love with had just come on the market and drew six offers in the first week.They wrote a heartfelt personal letter—complete with family photos—and included that with their offer. The sellers, an older couple, read the letter and said, “That is who should own our home!” They were not even the highest offer of the six.Be realistic about the market. Accept the fact that you may have to make offers on several different properties before you get one accepted. You may even fall in love with a particular home, only to be disappointed when the seller picks another offer. It happens. Just move on to the next.The real estate agent you select may play an important part in getting your offer accepted. The business of real estate is intensely personal, and an agent who is well-connected with others in the business may be able to advocate for you more effectively by speaking with the seller’s agent. Additionally, if your agent can convince the listing agent to speak directly to your loan officer, the chances of getting an offer accepted are even better. There is no substitute for a person-to-person conversation to let a seller’s agent know that your loan has been thoroughly underwritten and approved.I hope this was helpful. Good luck!

Hell no… Get a good RealtorRealtors are not ONLY about marketing.They do have a fiduciary, they are about representation.Representation from a good Realtor will help a buyer or a seller navigate all kinds of crazy issues.Do you know what termite casts look like? I am a veteran Realtor and I do...Do you know how much it costs to mitigate radon in an average house? I do...Do you know how to choose the best offer when you have 4 on the table... and price is not the only way to evaluate which one is best? I do...Do you know how to make it much more likely that an offer will get accepted when there are 6 offers on a property and you have a buyer who wants to buy so badly they would pay $50K over asking price... but you don't know what the other offers have been submitted at? I do...Do you know what the average cost to get infrastructure in per lot?Have you changed zoning codes before? Do you know how to research them for each municipality?Which cities allow for legal accessory apartments? What is the difference between a mother in law, a legal accessory and a duplex?Are those definitions different city by city?Some cities require that a seller disclose their zoning to a buyer? Which ones in your county require this? Where do you get the forms?Do you know what is and is not required regarding disclosures when you are selling and your neighbor is walking around in his house naked all the time on purpose and his master bedroom window is directly behind your back family room window? I do, been there, done that…That... or what if someone was murdered in your house.When can you lose your money if you choose to back out based on finding out your new neighbor is on the sex offender registry?Would you suggest a sewer drain line get scoped before you buy a home?What is your perception as to how much is normal to ask for in a reduction in a specific price range?Do you know how hot a market is in the $500K market in your city versus in a $200K single family residential neighborhood?How much does it cost to repaint a 1000 square foot area?How much does carpet cost per foot? Tile?Do you know what Polybutylene Plumbing looks like or what the risks are for having it?Do you know the two different types of electrical panels which are actual fire hazards?Do you know what the real risk of having a double lugged breaker is?Or which panels allow for them to be double lugged because one brand name is actually set up for that to be ok by code.Do you know how to fly a drone? Are you licensed for it?In an old house if a plug is broken is replacing it with a three prong plug a violation of zoning code?How close to the floor does a window sill have to be for a basement bedroom to be legal?Do you know how to compare a builders REPC versus a state one and where they differ in favor of most builders?Can you use a state form even if the builder says you need to use his?How much is a normal Earnest Money Deposit and when can you get it back?Who holds onto that?Which title companies allow for a reissue rate?One or two years?How much will you save if you know to ask for it?How long after closing to you disconnect utilities to avoid a disconnect fee?How do you check to see if the home you are purchasing has a home owners association transfer fee if it is not written anywhere?Who is responsible to pay for that if the seller does not disclose that to the buyer?What are normal assessments for a HOA?How much money does a normal HOA hold in their escrow account as a percentage of the average sales price of the homes in the HOA?Can you belong to more than one HOA at once?What kind of fiduciary does a title company have to their client?When can you ask the title companies staff attorney for help?How do you close a property when an underlying mechanics lien shows up after there have been three different closings and title policies issued since the work was done and the new title company will not insure over that? 

Which rider should you request for your title policy if you have plans to move the property into an LLC or a trust? If you don’t do you really lose all your coverage?What seer rating is a HIGH efficiency AC unit these days? What was normal in 1993?How do you enforce and deal with something that has been adequately disclosed and becomes an issue post closing?How do you fill out a seller property condition disclosure if you have never lived in the property you are selling... or have not for the past four years?How much do you have to put down on a duplex if you are buying it to live in?To rent? Is it different for a four plex? (It is) is it different for a 5-Plex? (It is)What happens if a seller has already used part of a tenants security deposit towards an issue and the tenant breaches the rental contract?Where can you use a USDA Loan?What grants are available to first time home buyers in your area? Do you have to pay them back? Are there any that are available to a non-first time buyer?Can you spot an error in a settlement statement?How to property tax prorations work in December when taxes have been paid for the year already?How long do you need to wait before your escrow account will pay out?Does MIP ever go away when you hit 20% equity interest? After which year did it become NOT removable?Can you sell your neighbor a 5 foot section of you property he has had fenced for years if you have a mortgage on your house?How does a quiet title action work?How do you record a fenceline agreement?What does an ALTA policy differ from a normal title policy?How do you file a title claim?What is the difference between an owners policy and a lenders title policy?How does SBA financing work?What would trigger a condo complex's loss of FHA approval? What about Fannie or Freddie Mac approvals? Can they be jeopardized by the actions of an HOA?

How do you know if a HOA has adequate reserves?What do you do to obtain financing if you are no longer FHA approved?What is a normal debt to income ratio? Is it different for FHA versus conventional?What is the normal issue with a VA appraisal? How can you prepare for it?When is it NOT a good idea to get VA financing even if you are eligible to do so?Who do you call to mitigate Meth, Termites, Lead based paint, Radon? At what point does the health department need to get involved?When do you need to start disclosing lead based paint? How is that done? What happens if you do not do it correctly? What liability does a seller carry in that situation?Where is the most effective place to advertise per dollar? What is the best return?What CANT you say without potentially creating a HUD fair housing issue? Can you say you are next to a Church?When can a homeowner or a landlord say... "I don't rent to Mormons?" (or other religions) without being in violation of fair housing?When can you not rent to Black people? What happens if your seller says I don’t want to sell to black people?When is it appropriate to use a negotiation gambit like nibbling or third parties?Have you ever developed a subdivision or split a lot?Do you lose your title insurance protection if you transfer your new duplex into an LLC? Can you do something about it? What happens if you transfer it into your wife's name?What happens if you close on the first rather than the 31st of the month with a conventional versus an FHA loan? Is it a big deal?How does a loan wrap work? Is it legal?If you are buying a Short Sale how can you protect yourself from a mechanics lien?Are you legally liable for the loss a bank incurs on a short sale? What does a short sale look like to the IRS? Tax liability?If you are representing a seller doing a short sale can you do something to prevent a judgement from attaching to them from their lender if you are smart? What is that?If you have a canal in your back yard and there is an Public Utility Easement can you build a deck? A shed?What are normal setbacks? Do they apply to secondary structures?What is a building envelope?Do you have a good painter you refer, carpet cleaner? HVAC guy? Electrician? Plumber or roofer? Do you know how much a new furnace will cost for a 2000 square foot home? What about AC? What if it high versus low efficiency? How do you know if a new furnace is direct drive DC or not? If it is high efficiency or not? (I know when my clients are getting ripped off...)In which cities are two flag lots developable versus three... or just one off of a shared stem?Can you edit video?Can you do SEO work? Advertise on FB? Is there anything you should watch when doing so?DO you have a Matterport camera? How much is a normal Matterport tour per foot? Will you spend that?Do you have a good DSLR? Can you take photos like this? Work Do you think they might net a seller more or less money?Please list the high schools in order for your county based on test scores and academics... Can you?How does depreciation work on your house versus a rental property?What if you take equity out of your house to buy a rental property? How is that equity or the debt left on your house handled by the IRS?I can go on and on... I am not kidding. I can type as fast as I can think of these things. There are a million potential land mines that have nothing to do with marketing. Marketing is a piece... Having a website… or even an attorney… or maybe a discount broker… to ask questions of is nice... However usually a homeowner will not even approach an attorney until after they have gotten themselves into a problem that if they had me... they most likely would not have had to deal with.Sure there are different things that will work but if you think I can't provide the value I charge in my commission... you are tragically mistaken... and very wrong. Many of my clients actually don't have any clue what real value I bring to the table because those little things that would have derailed them if they did this by themselves... Never even rise to the awareness level.It is true that there is a big difference between me and a brand new agent but skimming over that is like saying all police officers shoot defenseless people. It is a generalization that is very, very inaccurate and harmful. The truth is even a brand new agent can tap into the experience of his broker and colleagues… I would take any good hard working agent… and would pay them over a website or a Real Estate attorney.

Step 1: Prepare to SellYour home is more than an architectural structure. Often, it’s an extension of who you are – your personality, style, and values. That’s why selling it can be an emotional experience. But it can also be exciting and rewarding.Perhaps you need to sell your home and relocate because you’re changing jobs. Maybe you need a larger home to accommodate your growing family, or a smaller home because you are preparing for retirement or because your children have moved out on their own.There are many reasons for selling a home, but regardless of the circumstances, nothing can replace the value and expertise of a Realtor who can help you approach the real estate transaction fully armed with information about current market conditions, neighborhood statistics, determining a realistic sales price, marketing and negotiating the best price, and much more.Preparing to SellYour Realtor will help you begin to prepare for the selling process and provide detailed information and answers to the important questions specific to your situation.To begin the process, first impressions are key when selling a home. So before the ‘for sale’ sign goes up, put in the time to make sure it’s in ship shape. View the home through the eyes of a prospective buyer and determine what needs to be cleaned, painted, repaired or tossed out.Great curb appeal, fresh paint, organized closets, and cheery flowers – there’s a lot you can do to make even the most humble of abodes look good. A clutter-free atmosphere is essential if you want the house to appeal to buyers. The goal is to show a home that looks good, maximizes space, and attracts as many buyers as possible.Check out our Get Ready To Sell checklist for a list of ideas and tips.How Do You Improve Your Home’s Value?Improvements should be made so that the property shows well and reflects community preferences. Ideally, you want to be sure your property is competitive with other homes available in the community.Cosmetic improvements, paint, wallpaper, landscaping, etc., help a home show better and often are good investments. Mechanical repairs that ensure all systems and appliances are in good working condition are required to get a top price.DepersonalizeFinally, as part of your preparation process, it is recommended you remove family photos, religious items, and political posters. Get all the children’s drawings off the refrigerator. You want prospective buyers to envision their family in the house, not yours.Step 2: Choose Your AgentHome selling has become more complex than it used to be. In the maze of laws and regulations, transaction forms, financing, inspections, marketing, pricing, and negotiating, it makes sense to work with professionals who know the community and much more.Your Watkins Realty Group (WRG) professional can provide the experience and local knowledge to guide you through the entire process, and sell your home within the ideal time frame and at the most effective price point.As the representative of your best interests, your WRG Agent has state-of-the-art marketing resources to showcase your home’s best assets and help you determine what improvements will make the biggest difference.The job of a full-service WRG Agent is to represent your best interests through every step of the sales process. Your Agent will listen to your needs and help you understand the market.The typical home sale today involves more than 20 steps after the initial contract is accepted to complete the transaction.Much of what needs to be done before the closing is the responsibility of appraisers, loan processors, escrow and title officers, inspectors, etc. Your WRG Agent’s role also includes coordinating those responsibilities, helping to ensure that others do their jobs promptly and correctly.Many steps between contract ratification and closing involve the cooperation of both buyer and seller, and attentive real estate professionals on both sides of the transaction will troubleshoot and keep everyone on track.Millions of existing homes are sold each year, and while each transaction is different, every owner wants the same thing: the best possible deal with the least amount of hassle and aggravation. Your Watkins Realty Group Agent is ready to help you reach these goals.RecentNew California Homestead Equity Protection LawJanuary 15th, 2021Happy New Year!January 1st, 2021San Diego Home Prices have Biggest Gain in 6 YearsDecember 31st, 2020Happy Holidays Everyone!December 22nd, 2020Southern California Home Prices Rise Nearly 11%December 15th, 2020Step 3: Set the List PriceSeveral factors, including market conditions and interest rates, will determine how much you can get for your home.Our local home prices rising or falling? Is it a buyer’s or seller’s market? How much local inventory and competition is there? What are your home’s condition and features compared to the competition?Your Home’s First Price Should Be Its Best PriceResearch tells us that pricing your home appropriately from the beginning is critical to getting it sold quickly and at the best price. Overpricing your home and then dropping the price several times while it languishes on the market usually leads to selling it at a lower price than what you originally should have asked for it.How to Price Your Home CorrectlyIf you price your home too high, some potential buyers won’t want to look at it at all, while others will simply walk away without making an offer. If you under-price the property, you may receive lower offers and “leave money on the table.”So pricing your home correctly the first time is critical.There are a lot of factors that go into determining a home’s market value, such as the sales price of nearby homes that have recently sold, the listing price of similar homes that are currently on the market, as well as the condition and location of a home.To determine to price, your WRG Agent will provide a full comparative market analysis (CMA) which walks you through what your home is worth – and why.To help facilitate this whole process, your WRG Agent will:Walkthrough your home’s selling features and suggest improvements that could lift your pricePrepare a CMA to show you what comparable homes sold for and chart demand in your neighborhoodRecommend a target price, and marketing plan.RecentNew California Homestead Equity Protection LawJanuary 15th, 2021Happy New Year!January 1st, 2021San Diego Home Prices have Biggest Gain in 6 YearsDecember 31st, 2020Happy Holidays Everyone!December 22nd, 2020Southern California Home Prices Rise Nearly 11%December 15th, 2020Step 4: Market Your HomeOnce you’ve prepared your home for sale, chosen your Agent, and set the list price, it’s time to implement the marketing plan and begin showing your home so it sells as quickly as possible. We ensure that your home gains the best and most effective exposure to potential buyers.Your WRG Agent will Market your Home in Multiple Ways:List your home on the local Multiple Listing ServiceFeatured listing on the WRG websiteVirtual tourCustom Single Property Listing Website PageStrong online presence, including all major websites and social mediaMarket your home to our current list of BuyersReach out to other real estate brokers and agents who work with buyers in your price range.Take high-quality digital photos of your home's best features and important rooms.WRG Yard signFlyers and printed materialsOpen HousesToday, the vast majority of homebuyers use the internet in their home search, so our marketing plan includes focused online activities. Your home will be shown on:Local MLS, WRG website, and all local brokerage and Agent sites that provide home searchesSocial Media websites, including FacebookHome ShowingsShowings are an inconvenient, yet necessary part of the home selling process. When your home is on the market:Keep your home as clean, neat, and odor-free as possible.Make your home as available as possible to buyers.Whenever possible, leave the house when buyers are there, since studies have shown that buyers linger and look more carefully when the homeowners aren’t present.Lock up your pets or take them away when buyers are visiting, especially during an open house when multiple visitors are expected.RecentNew California Homestead Equity Protection LawJanuary 15th, 2021Happy New Year!January 1st, 2021San Diego Home Prices have Biggest Gain in 6 YearsDecember 31st, 2020Happy Holidays Everyone!December 22nd, 2020Southern California Home Prices Rise Nearly 11%December 15th, 2020Step 5: Negotiate an OfferPerhaps the most complex moment in the sales process comes when you get an offer for your home. Watkins Realty Group has many years of experience in strategic negotiation and we are here to represent your interests in securing the highest possible price for your home.Whether you have one offer or several to consider, your WRG Agent will be your partner and educate you on the terms of the offer and help you understand the offer in the context of the housing market in your area.How to Evaluate Purchase OffersWith your Agent’s assistance, you’ll need to carefully evaluate each offer and begin a negotiation with the buyers and their agent. Before you begin to analyze any purchase offer, the most important step is to determine whether the buyer can fulfill the terms of the contract with financing. Your WRG Agent can help assess this.What Factors Should You Consider in a Purchase Offer?Once you know the buyer can legitimately qualify for a loan, here are just a few of the factors to consider when evaluating an offer:How close is the offer to your asking price?Will your home appraise for the contract price?How large is the earnest money deposit that accompanied the offer?Has the buyer asked for assistance with closing costs?Has the buyer asked you for any unusual terms?Is the requested settlement date appropriate for your needs?If you’re not immediately satisfied with the offeror are uncertain about whether to accept it, consider your options:Are there other offers?Can you wait for more offers to come in?How will you handle it if no other offers come in after a particular deadline?Making a CounterofferAs a seller, you have the options of accepting the offer as is, declining the offer, or making a counteroffer. Your WRG Agent can give you specific advice about your negotiating stance based on your home and the market.Your negotiations can go more smoothly if you have a clear sense of your own priorities, such as particular settlement date, the ability to rent-back your home from your buyers, or a minimum price that you need to achieve to meet your financial goals.Opening EscrowIf a successful final purchase agreement is negotiated, then an “escrow” will be opened. The terms for the sale of a property are given to a neutral third party known as the escrow holder. Escrow has the responsibility of seeing that the terms of the escrow are carried out. They act as a depository for all monies, instructions, and documents needed.RecentNew California Homestead Equity Protection LawJanuary 15th, 2021Happy New Year!January 1st, 2021San Diego Home Prices have Biggest Gain in 6 YearsDecember 31st, 2020Happy Holidays Everyone!December 22nd, 2020Southern California Home Prices Rise Nearly 11%December 15th, 2020Step 6: Plan Your MoveThe time to plan your move begins once you’ve decided to sell your home. Some of the activities required to prepare your home to sell can actually help with the moving process. For example, by cleaning out closets, the attic, and the garage, you will have less to do once the home is under contract.Your plans to move should ramp up a notch during the listing period, and into high gear once escrow has been opened.Your planning will be guided by a number of things:Are you moving long-distance? If yes, you’ll likely require an interstate mover and the use of a large van.Moving locally? If yes, will you move? You’ll need to consider packing boxes, peanuts, blankets or padding, and a van rental.Planning is key: Stock up on boxes, packing materials, tape, and markers. Always mark boxes so that movers will know where goods should be placed.Which Mover Should You Use? There are a number of factors to consider:Reputation: Movers must have the right equipment, training, and experience to do a good job. A mover, no matter how large or small, should be able to provide recent references.Get mover estimates in writing. Also, be aware that it’s possible to get discounts through some membership organizations.Always confirm mover credentials: Movers should be licensed and bonded as required by state law, and employees should have workman’s comp insurance.Get a ChecklistMoving is a big job and checklists can make it more organized and easier. Here are some of the major items to consider:Money: If you’re moving more than a few miles, you should have enough cash or credit to cover travel, food, transportation, and lodging.Medicine: Keep medications in a place where they will be available during the move.Number boxes: Make a list of boxes by number and indicate their contents. It makes it easier to count all boxes on arrival.Keep kids occupied: If moving with children, make sure that each has a favorite toy or toys, blankets, games, music, and other items.Moving historic, breakable, or valued items? Such goods routinely require special handling and packaging.Have address books readily available in case you need help.Step 6: Plan Your MoveThe time to plan your move begins once you’ve decided to sell your home. Some of the activities required to prepare your home to sell can actually help with the moving process. For example, by cleaning out closets, the attic, and the garage, you will have less to do once the home is under contract.Your plans to move should ramp up a notch during the listing period, and into high gear once escrow has been opened.Your planning will be guided by a number of things:Are you moving long-distance? If yes, you’ll likely require an interstate mover and the use of a large van.Moving locally? If yes, will you move? You’ll need to consider packing boxes, peanuts, blankets or padding, and a van rental.Planning is key: Stock up on boxes, packing materials, tape, and markers. Always mark boxes so that movers will know where goods should be placed.Which Mover Should You Use? There are a number of factors to consider:Reputation: Movers must have the right equipment, training, and experience to do a good job. A mover, no matter how large or small, should be able to provide recent references.Get mover estimates in writing. Also, be aware that it’s possible to get discounts through some membership organizations.Always confirm mover credentials: Movers should be licensed and bonded as required by state law, and employees should have workman’s comp insurance.Get a ChecklistMoving is a big job and checklists can make it more organized and easier. Here are some of the major items to consider:Money: If you’re moving more than a few miles, you should have enough cash or credit to cover travel, food, transportation, and lodging.Medicine: Keep medications in a place where they will be available during the move.Number boxes: Make a list of boxes by number and indicate their contents. It makes it easier to count all boxes on arrival.Keep kids occupied: If moving with children, make sure that each has a favorite toy or toys, blankets, games, music, and other items.Moving historic, breakable, or valued items? Such goods routinely require special handling and packaging.Have address books readily available in case you need help.Step 7: Close EscrowAfter a successful final purchase agreement is negotiated, an “escrow” will be opened. During the escrow period of roughly 30-45 days, you will deliver to the buyer a series of “seller disclosures” regarding your knowledge of the condition and history of the property.The buyer will conduct their due diligence, which typically includes a home inspection, an appraisal, reviewing HOA documents (if applicable), a Title Report, etc.It’s important to stay in constant communication with your Watkins Realty Group Agent during the escrow period. Be sure to return all phone calls and complete paperwork promptly.Also, don’t hesitate to ask questions along the way. We are here to help you!!ClosingAfter all, this is complete, you’re in the home stretch to complete your home sale and sign the final escrow documents.On the day of closing, ownership of the home officially transfers title from the seller to the buyer. You typically provide the keys to the buyers on the day of closing, unless negotiations provide for a different move-out date.Finally, if you are moving locally and selling and buying a house simultaneously, we have helped many sellers in similar circumstances. We can help coordinate the two transactions and work with you to sync them together and make your move as seamless as possible.And remember, just because the sale is complete, your relationship with your Watkins Realty Group Agent doesn’t need to end. After your purchase, your agent can still help you – providing information on the real estate market, or helping you find your next home.Ready to Move Forward?Watkins Realty Group offers a variety of solutions and experiences.With over 15 years of real estate and finance experience AND over $250 million in transactions, we have helped HOMEOWNERS with many situations and challenges – Traditional Sale, Remodel and Sell, Cash Sale, Short Sale, Trust Sale, Probate Sale, Court approved Sale, Simultaneous Sale and Purchase, and Double Escrows.Whatever your need is, we have multiple solutions to help you – and the experience to ensure a successful result!Our many years of experience in strategic negotiation will help ensure the highest possible price for your home.Complete the form below and we’ll be happy to help you move forward and answer any questions you may have.