Learning Objectives

Previously we had Listing the House course and Getting Offers course. Now is time to go over the entire escrow process. It’s important to learn because you want to get a paycheck but also you need to perform a great service while representing your clients. How to get an escrow closed is a key skill you need to know as a real estate agent. Wouldn’t it be wonderful if they sent referrals your way and recommended you to all their friends and family?

We are going to break up escrow into two parts. Opening Escrow and Closing Escrow.

First, we will go over opening escrow. Opening escrow has two important parts, the preparation and then the actual steps.

The preparation includes your duties, the escrow timeline and the document checklist. Next we go over the actual steps to opening escrow. This starts by working with escrow officer who will help you with the escrow number and escrow opening packet. The next steps we will go over are the earnest money deposit, disclosure documents signed, statement of information, and the preliminary title report.

In the second half of the course we will look at closing escrow. We will start with the final releases. Then we will review the final inspection, getting the deed notarized and the very important client follow up.

Escrow is when your real work begins. You’ve done tremendous work by marketing the property and generating an offer that was acceptable to your sellers. Now you have an executed purchase contract and it’s time to go to escrow. Getting through a successful escrow can be more rigorous and intensive than earning the listing and obtaining the offer.