Getting through the escrow process can be the most challenging part of buying or selling a North County San Diego home. Whether you’re a first-time buyer or a seasoned professional, it can be a challenge to get to the closing table without feeling stressed. While we can’t promise a stress-free experience, there are definitely ways to help keep your anxiety at bay. Here’s how to do it.
Know what escrow is
If you’re new to the process of buying or selling a home, then we can understand why you might hear the word “escrow” and think your agent is speaking another language. But don’t be intimidated by unfamiliar words. Simply put, escrow is the process where buyers and sellers work together to finalize the purchase of a home. It helps to make sure you’re all working towards an agreed-upon final goal and that you achieve that goal as quickly and painlessly as possible.
Understand the steps of the process
Educating yourself about the steps of the escrow process will help ease stress because you’ll know what to expect. If you’ve never been through it before, then ask your agent to give you a timeline of events. Seeing it laid out in black and white will give you something tangible to work toward. If you have any questions about the timeline, then don’t be afraid to ask your agent. They’re here to help!
Know what you have to do
Once you understand the timeline, make a list of all the things you’ll need to do to close escrow. Your tasks will differ depending on whether you’re the buyer or seller. These tasks could include gathering documents, scheduling the inspection, making repairs, and packing.
Stay on top of paperwork
Escrow generates lots of paperwork. To keep the process running smoothly and on time, you need to stay on top of this paperwork. This means signing and returning documents as soon as your receive them. Delays can prolong the process or even derail the deal.
Keep your finances steady
If you’re buying a North County, then you need to keep an eye on your finances while you’re in escrow. Don’t make any major changes that could jeopardize your home loan. This means no big purchases like a new car or furniture for your new place. Don’t change jobs and don’t open or switch any bank accounts. Your mortgage qualification is based on the information you supply at the beginning. Any major changes could cause problems with closing on your loan.
Have some flexibility
While there’s a typical timeline for the escrow process, things don’t always go as planned. You need to have some flexibility while you’re closing on a home. Expect short notice to have paperwork prepared, and don’t be surprised by delays. It’s possible you could close later than the expected closing date — or even earlier!
Take time for you
Finally, while it may seem like your whole world is taken over by the escrow process, it’s important to take time to disconnect and relax. Get a massage, go for a walk, take a hot bath — whatever you need to do to decompress. And remember — while escrow may be an intense process, it doesn’t last forever.
Work with the best team in North County!
The easiest way to get through escrow with less stress is to work with the best! That’s why you should contact the experts at Clark & Gilman Team at 760-758-1211 or [email protected] today. We’d love to help you turn your real estate dreams into a reality!