Essential Tips for a Smooth Escrow Process

​Navigating the escrow process is a crucial step in any real estate transaction. Understanding its intricacies can help ensure a smooth and successful experience. At Lakeside Escrow, we've compiled essential tips to guide you through the process, addressing common challenges and providing insights to facilitate a seamless transaction.

How can I ensure a smooth and successful escrow process in my real estate transaction?​

To ensure a smooth escrow process, it’s important to work with an experienced and communicative escrow officer who can guide you through each stage. Be proactive in reviewing all instructions and submitting necessary documents promptly to avoid delays. Keep open lines of communication with everyone involved, including your real estate agent, lender, and escrow officer, to address any issues quickly. Additionally, staying organized and prepared for any unexpected developments will help keep the process on track.

 

1

Homeowners Association (HOA) Fees & Documents

Before listing a property, ask your seller if there’s a homeowners association (HOA)—or multiple HOAs—linked to the property. Many homes fall under both a master and sub-association.

  • Sellers should be prepared for upfront HOA fees, typically ranging from $300 to $500 per association.
  • These fees often include rush processing charges, ensuring that HOA documents are delivered on time for buyer review and contingency removal.

2

Properties Owned Under a Trust, LLC, or Corporation

If the property is held under an entity rather than an individual’s name, escrow and title companies must review supporting documents.

  • Inform sellers early that they’ll need to retrieve and provide original trust, LLC, or incorporation documents to avoid closing delays.

3

Properties Owned by Individuals

If multiple sellers are involved, always confirm their marital status (married, single, divorced, etc.).

  • This information may require additional legal documentation to ensure a smooth transaction.

4

Providing Client & Agent Contact Information

To streamline communication, provide escrow with:

  • Seller’s mailing address, email, and phone number
  • Contact details for transaction coordinators (if applicable)
  • The buyer’s agent information

5

Enhance Client Experience with a Personal Touch

Differentiate yourself by scheduling an in-person escrow meeting for your clients.

  • This helps facilitate document signing and provides a warm introduction to the escrow holder.

6

Potential Escrow Fee Discounts

Notify escrow if your client is a senior citizen or military personnel, as they may qualify for discounted escrow fees.

7

Handling Solar Panel Transfers

If the home has solar panels, inform escrow whether they are owned outright or under a financing agreement.

  • Sellers must provide a copy of the solar contract and the solar company’s contact details.
  • Solar panels cannot be transferred until the seller’s payments are current. The seller must contact the solar provider to initiate the buyer’s transfer process.

Connect with us

We would love the opportunity to connect with you and discuss how Lakeside Escrow can assist with your escrow needs and help ensure a smooth and efficient escrow process.