Escrow Closing Tips for Sellers

The time has come: You are selling your home! Maybe this is the first time you are an official “seller,” or maybe you are a seasoned pro and could use some brushing up on the selling process. Either way, it’s nice to know what to expect and avoid from a seller’s perspective. Here are 7 closing tips for sellers by Ravello Escrow.

1. Choose an independent third party to handle your transaction.

It might sound insignificant, but the company you choose to handle one of your most important assets matters. Independent third-party escrow companies offer their clients the advantage of neutrality and security by not being affiliated with any other real estate entity. Do a little research. A simple Google search for “Independent Escrow Companies” in your area will point you in the right direction.

2. Provide pertinent documents to escrow as requested.

Once escrow has been opened, make sure to return your completed escrow opening package in a timely manner and as instructed by your Escrow Officer. Even though some information may be repetitive, still make sure to fill everything out completely so you do not have to repeat the process.

3. Complete the “Statement of Information” and return to escrow as soon as it is complete to avoid delays in closing.

A Statement of Information is a document requesting information such as, name, date of birth, social security number, current and previous address, etc. It is important this document gets filled out in a timely manner. If you have any questions about the SI (Statement of Information), do not hesitate to call your Escrow Officer for further explanation.

4. Be aware of any existing judgements or liens.

All existing judgments and liens will be paid from seller proceeds at closing. Make sure to advise your Escrow Officer of any liens you are aware of.

5. Know your timelines.

Stay in communication with your Escrow Officer and Real Estate Agent during the process to ensure closing dates are on time. Additionally, if you have any travel plans during the course of your escrow, make sure to notify your Escrow Officer.

6. Remember to bring your identification at signing.

A VALID U.S. driver’s license, passport or military ID must be provided at signing.

7. Use caution and report suspicious activity right away.

Pay attention to email addresses and any unusual requests. It never hurts to stay alert during the course of your transaction. When in doubt, pick up the phone and call your team. If you suspect any suspicious activity, make sure to call your Real Estate Agent or Escrow Officer immediately. Your safety is our top priority at Ravello Escrow.