109 - How Escrow Works

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