If you’re buying or selling a home in the Inland Empire, you’ll need to go through the escrow process. This process can be confusing, especially for first-time buyers or sellers. Here’s a breakdown of the escrow process and what you can expect:
- Opening escrow: Once you’ve found a buyer or seller and agreed on the terms, the escrow process begins. The escrow company will be responsible for holding onto the funds until all the conditions are met.
- Title search: The title company will conduct a search to make sure there are no liens or other issues with the property.
- Contingency period: This is a period where the buyer can back out of the deal if certain conditions are not met, such as financing or inspection.
- Closing: Once all the conditions are met, the escrow company will distribute the funds and transfer ownership of the property.
It’s important to work with a real estate agent who can guide you through the escrow process and make sure everything is done correctly. With the help of a professional, you can navigate the escrow process with ease and ensure a smooth transaction.
