Real estate transactions are complex; there’s so much information, so many documents, and so much money being passed from one hand to another. No wonder why so many buyers and sellers feel overwhelmed!
Fortunately, you don’t have to go through the process of buying or selling a home on your own; there are several professionals that can help throughout the endeavor. Of all the professionals you’ll work with, an escrow service is one of the most important. The job of an escrow service is to act as a neutral third-party who will hold a buyer’s earnest money until negotiations have been completed and the transaction has been finalized.
Like most professionals associated with the real estate industry, there are a lot of escrow services to choose from. How do you know which one to choose? Here are some tips to keep in mind.
- Consider the reputation; the longer the service has been in existence and the more satisfied clients, the more reliable the service is likely to be.
- Impressions mean a lot, so pay attention. You should feel like there’s open communication, like you’re in the loop, and that any questions you may have are being answered.
- The cost of the service is also something you’ll want to consider. You want to pay a fair, affordable rate; you also want to make sure that the service is up-front and honest about any additional fees that may be incurred, such as