First Home - California

109 - How Escrow Works


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In this episode we talk about how escrow works. When you’ve made a final offer on a home and reached an agreement with the seller, you start the escrow process in which a neutral third party manages funds and assets, and ensures all conditions of the sale are met before the property changes hands.

Topics covered include:

  • When escrow officially starts
  • The mindset a first-time homebuyer should have during escrow
  • Who is responsible for identifying an escrow company to use, whether a homebuyer can choose the escrow company, and who contacts the escrow company to open an account
  • What title search and title insurance are
  • What kind of contact the homebuyer can expect to have with their lender
  • Whether it’s common for sellers pay for a home warranty for the first year
  • What happens at document signing
  • Our Guest:

    • Lynn Bishop, Escrow Officer at Placer Title Company
    ...more
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    First Home - CaliforniaBy California Department of Real Estate

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