Offer Accepted, What about Closing?

After you have accepted your buyer's offer, your home will go through the escrow process. This process can last about a month or so. The escrow company (or title insurance company) transfers ownership of the property to the buyer from the seller. They will also make sure that the terms of the real estate contract have been met. An escrow or title company usually charge about 1-2% of the sales price. Some of the charges are paid by the buyer and some are paid by the seller. It varies according to local custom.

If you are selling your home yourself, the buyer's mortgage company usually chooses the escrow or title company unless you specify a choice in your real estate sales agreement. Once your house enters the escrow process someone from the escrow or title company will call and introduce themselves and will ask if you have any questions. They may also need some information from you.

After the escrow company completes all of their paperwork they will call to give you a final date and time for closing.

Instant Download 60+ Real Estate Forms $14.99
Complete For Sale by Owner Package which includes, Real Estate Sales Agreement, Offer to Purchase, Quit Claim Deed, and More. SPECIAL OFFER: Free Home Selling Secrets Guide with every purchase!