Escrow: It’s Not Over ‘Till . . .

Before I became a Realtor, I had no idea how mindboggling an escrow can be. Once an offer has been accepted, the work for agents has just begun. There are dozens of things that have to be done, and hundreds of things that can go wrong.

Properties fall out of escrow every day, for a myriad of reasons (funds not deposited, the “approved loan” had some lender requirements that couldn’t be met, the inspections turned up nightmares and the buyer backed out, the seller refused to pay $25.00 to fix something and the buyer backed out, etc., etc., ad naseaum).

As a Realtor it is unethical of me to trash other agents, so suffice it to say that in every profession there are human beings who are nice, decent, ethical, competent, people with integrity, then there are people who aren’t so nice or any of the rest of it. Working with the latter is just no fun and can cause all kinds of stress for the “nice” agent, but more to the point, unless there are two agents working in good faith to bring the transaction to a successful closure, it might not get there.

If most people are like me, they thankfully have no idea what goes on behind the scenes, once they have signed on the dotted line. In fact, what goes on behind the scenes is one of the key reasons agents are so valuable – showing properties and negotiating contracts are one thing, but making sure the “i’s” are dotted and the “t’s” are crossed in escrow is another matter altogether.

If you had no idea this was the case, you have benefitted from the services of good agents.



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