Well, after over two years of looking, I finally have a new job in southern California – starts March 10. Now, I need to sell my house in Oakland. Prices here are down significantly from last year, especially in my stratum, but I expect them to get worse before they get better — so I want to move the house fast. Plus, I don’t want it sitting vacant for any longer than is absolutely necessary.
Being the control freak that I am, I’ve decided to go with Bill Effros’ “5 Day Sale” method, which is a FSBO with a short advertising period, a two-day open house, and a round-robin auction by telephone following the second open house day. This is followed by a more conventional process in which contracts are signed, titles are searched, mortgages are finalized, and escrow closes. An attempt is made to provide as much information up front as possible, including getting inspections beforehand, to minimize uncertainty and delays after the auction is held.
Key to all of this is finding what the author refers to as a “settlement agent”: someone who will “contact the banks, arrange for title searches and title insurance, write up all contracts, calculate conveyance fees due to state and local governments, and come up with a simple piece of paper that explains how much you’ll get when all is said and done.” From my experience with buying the house, I’m guessing that here that work is typically done by an ecrow company.
Anyone have any recommendations for escrow companies (or other possible settlement agents) in the East Bay that would be good for this type of a situation?
Thanks,
Rebeccah
Edited 1/27/2008 8:07 pm by Rebeccah
Replies
Greetings Beka,
This post, in response to your question, will bump the thread through the 'recent discussion' listing again which will increase it's viewing.
Perhaps it will catch someone's attention that can help you with advice.
Cheers
Peaceful,
easy feelin'.
Thanks, Rez.I've basically decided that given the market and my time constraints, there's no way I can do this myself. I'm just going to suck it up and hire a broker and pay his commission.Rebeccah
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Peach full,easy feelin'.
In some places they are called title companies. And they handle the escrow and closing and all of the title work.
Typically no one, but you are an attorney can WRITE a contract.
But you can aget blank standardized contracts that you can fill out.
They probably hve them.
But you will also have disclosure statements that you want to prepare before the open house.
Some RE agents will help you will with for a fixed fee.
.
A-holes. Hey every group has to have one. And I have been elected to be the one. I should make that my tagline.
Does the title agency not do all that?
Perhaps things differ in California, but here in Oregon I've bought and sold 2 houses myself and the title agency does all the "paperwork" that everyone's so afraid of.
I've used the same company and their representative for those deals. She give the buyer and seller a list of "Escrow Items" that need to be adressed before closing.
You open escrow with a contract--you can get that at a stationery store--there should be a 3 part form for it. Ours in OR is called "Buyer's Earnest Money and Agreement" or somesuch. Has all details.
Give it to the title agent with the earnest money and you're off to the races for closing. Financing, title search, loan funding, inspection--if stipulated--appraisal, all has to happen before closing and they see to it you know what you need to do.
It's not difficult. And there have been no surprises--but things might be different where you are.
"Research is what I'm doing when I don't know what I'm doing..."
typically, in Louisiana, the seller offers it for sale, and buyers make offers. when the buyer's offer is accepted, the buyer obtains financing and schedules the transaction at a title company (lawyer) of the lender's choosing. the sellers involvement is to respond to defects found by inspectors and to provide good title at closing.