The Lake Tahoe real estate escrow process, as is typical in most areas, can be confusing for both buyers and sellers. The good news is that the Souers Real Estate Team in Lake Tahoe is here to help make the escrow period become as simple as possible.
Following is a basic checklist (provided to us by Old Republic Title here in South Lake Tahoe) that will apply to most escrows in a real estate transaction:
- Fully Executed and COMPLETE contract/counter offers/addendum.
- Confirm buyers names, marital status and/or entity purchasing the property to insure an accurate fee quote
- All invoices (NHD, home warranty/inspections, etc.) must be accurate- NO ESTIMATES
- Transfer tax (Including family transfers of any kind)
- Changes in close of escrow date
- Changes in purchase price
- Changes in loan amount
- Any changes in the contract
- Homeowners fire/hazard insurance
- Any seller credits
- HOA information and fees (Number of HOA’s)
- Location of signors (Need for multiple mobile Notaries)
- Items paid outside of closing (appraisals, inspections, credit report)
- Complete broker and agent information (Including address and license numbers)
- Talk to your buyers and staff about responding to lender and escrow requests accurately and timely to avoid delays and/or re-disclosure
- Create a system to deliver invoices to escrow as they are received
Keep in mind that there may be more documents or items when it comes time to sign your escrow papers since each escrow process is unique in its own way. Remember, if any questions are to arise during your real estate experience, don’t hesitate to contact your local REALTOR® . We look forward to helping you with your interest in the Lake Tahoe real estate market as well as guiding you through the escrow process toward finding your perfect Tahoe home!
Local Title companies are:
Old Republic Title – 530.544.0100
Placer Title – 530.542.1811
First American Title – 775.588.1944