Closing on a home is one of the most dramatic events in a person’s life – and just like a theatre performance, there’s a whole lot of hustle taking place backstage. On this episode of Open House, Reba and Eric draw back the curtain for a peek at the other side of the closing process, with Escrow officer Susan Berry.
You’ll get insight into:
· The problems escrow encounters in transactions, and how they’re handled.
· Some of the important failsafes escrow is required to follow when processing transactions.
· Concerning shortcuts some escrow companies may take that imperil their clients’ identity, security and finances.
· The prime opportunities for scammers to attack, and the actions you and your agent can take to thwart their efforts.
· Some of the warning signs that a title may not be clear on a listed home.
· The complications arising come closing when agents are unfamiliar with county ordinances (ie septic systems in King and Pierce).
· The roadblock that clearing a title can become in the event of a lien.
Plus a look at some of the seasonal changes in the housing market, tricks agents play to create a "feeding frenzy," and one particularly -strong- reason online home sales will never be a good idea.
It's a look behind the scenes at escrow, and you'll never see home closing the same way again, on this episode of Open House with Team Reba.