Home appraisal: Lenders want to know that the home is worth what a buyer is seeking to borrow. They’ll send an appraiser to check out the place, and may refuse to OK a loan if the appraisal falls short of the purchase price. Then, a potential buyer can walk away from the deal, or try to get you to reduce your price. Clear title: You really can’t sell property that you don’t legally own, and a clear title contingency lets a buyer walk if your title is not clear of liens, disputes, or other unresolvable issues.
STAGE 5: ESCROW
Look at escrow as a parking place for money and documents until the sale is complete. An escrow company is a third party that represents the buyer and seller equally. Earnest money is deposited in an escrow account and is released back to the buyer if the deal falls through for a reason outlined in a contingency. The escrow company also handles the important documents in the sale. HOW I CAN HELP: Do you really want to go on Google or elsewhere to get a standardized contract in a deal worth hundreds of thousands, even millions of dollars? I can help: • Create a contract with your best interests at heart. • Dig through the weeds of disclosure and contingencies. • Recommend great escrow companies, title companies, and real estate lawyers who can help you get to closing without a hitch. • And a whole lot more. Let's talk about it.
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