Closing
“We’re in escrow!” Those wonderful words can be exciting and confusing even for well-informed consumers. Plenty of folks do not fully grasp what escrow means and what purpose it serves. Once a buyer and seller have signed a mutually acceptable purchase agreement, the buyer deposits earnest money in an escrow account at the title company…
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What do the novel coronavirus and real estate closings have in common? Hopefully not that much. But now that I think about it, there are some dynamics that both a pandemic and a real estate transaction share. Regardless of how much or you plan or what precautions you take, unpleasant things can happen. Just like…
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The real estate industry has been ramping up its use of technology to conduct business over many years. Now, more than ever, buyers and sellers frequently execute signatures to seal the deal on contracts for efficiency and convenience. Digitally signed real estate contracts became more popular about 15 years ago with the passage of electronic…
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Negotiating real estate contracts in the middle of a global pandemic has never been so nebulous. Thankfully a Texas Association of Realtors’ COVID-19 Addendum is helping smooth the process. I had a closing set for the end of March 2020 — in the midst of a city-wide mandated “Stay-at-Home” Order. I represented the residential purchasers,…
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As the situation with the novel coronavirus continues to evolve, the title business is responding. Currently, the title business is not seeing many interruptions in business. For the most part, transactions are not being delayed or canceled due to current restrictions. Aside from a few inconveniences, it’s mostly business as usual in the title world.…
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