Seller Tips for a Smooth Escrow Closing

Selling a home can be a complex process, but with the right guidance and preparation, you can ensure a smooth and successful closing. At Lakeside Escrow, we’ve put together essential tips for sellers to help streamline the closing process. By staying organized and proactive, you can avoid unnecessary delays and ensure a seamless transaction from start to finish.

What steps can I take as a seller to ensure a smooth and timely closing in my real estate transaction?

To facilitate a seamless closing, promptly sign and return all escrow documents, and inform your escrow officer of any travel plans or the use of a Power of Attorney. If your transaction involves a 1031 tax-deferred exchange, provide your Qualified Intermediary's details. Stay responsive to requests from your agent and escrow officer, notify them of any changes in property title, and keep loan payments current. Additionally, schedule inspections and repairs promptly, disclose information about solar systems if applicable, and update your escrow officer on any lender negotiations or legal proceedings affecting the property.

 
Promptly Sign and Return Documents
When you receive your escrow opening documents, make sure to sign and return them promptly. If you'd prefer to meet with your escrow officer to review the documents, inform them right away so that an appointment can be scheduled.
Notify of Travel Plans or Power of Attorney
If you plan to be away during the escrow period, or if one of the parties will be signing documents through a Power of Attorney, inform your escrow officer.
Inform About 1031 Tax-Deferred Exchange
If the escrow is part of a 1031 tax-deferred exchange, provide the name of your Qualified Intermediary to your escrow officer.
Stay Responsive to Requests
Be prompt and cooperative with the requests from both your agent and escrow officer. They are working together to ensure your escrow closes smoothly and on time.
Notify of Changes in Title
If there has been a change in the title of your property, such as a divorce, a deceased owner, or a trust transfer, discuss it with your escrow officer as this could affect the disbursement of proceeds at the close of escrow.
Keep Loan Payments Current
Continue making timely payments on your existing loans during the escrow process. If property taxes are due, consult with your escrow officer for advice on avoiding double payments or any holds on funds at closing.
Update on Lender Negotiations or Legal Proceedings
Inform your escrow officer if you're in negotiations with your lender (e.g., delinquency issues) or involved in legal proceedings like a probate sale that could affect the property.
Schedule Inspections and Repairs Quickly
Arrange for inspections or repairs without delay and coordinate with your agent to ensure the property is available for inspectors or appraisers that may be requested by the buyer or their agent.
Inform About Solar Systems
If your home has a solar system, let your escrow officer know if it's owned outright. A copy of the solar contract and solar company details should be provided upfront. The transfer of solar ownership can't proceed until the seller is current on payments. You’ll also need to contact the solar company and provide them with the buyer's details to begin the transfer.

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We would love the opportunity to connect with you and discuss how Lakeside Escrow can assist with your escrow needs and help ensure a smooth and efficient escrow process.