Escrow
"The waiting is the hardest part"
- Tom Petty (who saw John in the front row in 1978 and copied John's haircut for the rest of his life)
When a transaction moves out of the buyer's option we refer to it as the Escrow stage. Technically it has been in escrow since the contract was receipted by the Title Company. But the buyer's option is significant enough that we call it a separate stage. This is the time when P (Pending) status is appropriate.
The seller's biggest job during escrow is to wait.
The buyer should be quickly providing any and all information the lender requests. Those requests will get annoying due to the level of regulation and auditing.
We stay updated on the loan process as much as possible. (Some buyer info is of course private.)
We'll keep you updated.
There will be a few requests for sellers. Those should be responded to quickly as well.
Hurry up and wait applied to both sides!
This is a good time to be preparing for the move. Michelle will send reminders of some of the common things to take care of during this phase.
You are welcome to contact us whenever you get anxious.
- Tom Petty (who saw John in the front row in 1978 and copied John's haircut for the rest of his life)
When a transaction moves out of the buyer's option we refer to it as the Escrow stage. Technically it has been in escrow since the contract was receipted by the Title Company. But the buyer's option is significant enough that we call it a separate stage. This is the time when P (Pending) status is appropriate.
The seller's biggest job during escrow is to wait.
The buyer should be quickly providing any and all information the lender requests. Those requests will get annoying due to the level of regulation and auditing.
We stay updated on the loan process as much as possible. (Some buyer info is of course private.)
We'll keep you updated.
There will be a few requests for sellers. Those should be responded to quickly as well.
Hurry up and wait applied to both sides!
This is a good time to be preparing for the move. Michelle will send reminders of some of the common things to take care of during this phase.
You are welcome to contact us whenever you get anxious.
