Escrow Tips for Sellers

In last week’s blog, we went over some tips for buyers who are in escrow. This week, we will look at tips for sellers in escrow. Keep reading for more!

Communicate Communication is definitely a two-way street. It’s important to discuss all concerns and questions openly and honestly with all parties in escrow. Your agent or broker is there to help guide you through the entire process of selling your home, and should be utilized as a resource. Any and all communication is imperative for a successful escrow. It’s equally as important in building a trusting and long-lasting relationship with your agent. As I mentioned in last week’s blog, there is no such thing as over-communication. So, go ahead and ask questions, voice concerns, and ask for updates throughout escrow.

Disclose Everything As a seller, you are most knowledgeable about your home. You know its history, its charm, and all the details (both positive and negative) in between. Therefore, it’s your responsibility to accurately and honestly disclose all information about your home to your agent and to the buyer(s)/buyer’s agent.  For example, if there are any issues with the home, if there have been any recent or major repairs or insurance claims, basically, anything you’d want to know about your home or a home you would be buying, should be disclosed and communicated to ensure a smooth escrow.

Nothing Personal You’ve lived in your home for a select period of time. You’ve made memories and shared the space with loved ones. You’ve added your personal touches, and worked hard to make it perfect. Now that you are selling it, you have to detach from those feelings because the new buyer will undoubtedly want to make changes and specifications to make it perfect for them. During inspections and repair requests, and throughout the whole process, it’s best not to take such changes personally. It doesn’t mean that they don’t like what you’ve done with the home, it’s just that they want to make it fit their tastes and make it unique to them. 

Escrow Tips for Home Buyers

Congratulations, you are in escrow. This means you are on your way to home ownership. However, it is important to make sure the ensuing thirty plus days go by smoothly. Read below for some tips.  

Communication is Key It’s important to keep a constant and open line of communication with your agent, lender, and escrow officer(s). Ask your realtor to provide weekly updates on the status of what is pending. From disclosures and contingencies, to loan approvals and appraisals, there is a lot that will happen during escrow. It’s a good idea to make note of deadlines and to make sure to sign or turn in any documents and information that are due in a timely manner. Now is also the time to speak up, if you need clarification or further explanations. Keep track of everything and ask questions. There is no such thing as over-communicating, especially during escrow.

End your Search Once you are officially in escrow, stop your home search. It’s tempting to continue to look, especially if you’ve been searching for a long time. However, you’d be doing yourself a disservice. The market is constantly changing, and you might come across several new properties you think would have been a better fit, or more within your budget. But, you’d also take away the focus of getting through the escrow you are in, in a timely and sufficient manner. It might be helpful to delete home searching apps and unsubscribe from emails about new homes on the market. Since you've already found your home, the focus should be on escrow.

Don’t Spend (Too Much) If you've applied for a standard or conventional loan, it is important to try to keep your credit score and finances static. Making large purchases using credit may negatively impact your debt-to-credit ratio, and potentially put you in a different financial state than you were in during your pre-approval process. This could delay or prevent the loan from being approved. If you want to buy all the furniture for your new home, or a boat to park at your new dock, it might be wise to use cash, or to hold off until after the close of escrow. 

Next week's blog will feature tips for home sellers in escrow! 

An hour a day...

Daylight Savings Time has begun. For some, it means an extra hour of sunlight and longer days. For others, it means losing an hour of sleep, and shorter nights. But, instead of looking at it as gaining or losing an hour, why don’t we focus on designating an hour each day to doing something that will help us better ourselves? I have a few ideas for you to check out below!

Read After a long day at work, with the kids, or after a social event or two, most of us want to unwind and relax. We watch TV, listen to music, or scroll through social media. Instead of locking ourselves into so much screen time, try picking up a book. Put aside a little “me” time to curl up on the couch, in bed, or in the tub and get lost in a book. Whether you choose to read books that entertain, books that help better your body/mind/soul, or books to help you pick up a skill or grow your business, you’ll find that time spent reading is not only calming but also beneficial to the sharpening of your mind. It’s a foolproof way to learn something new and expand your horizons.  

Workout Working out is a priority for so many of us, yet we don’t always make time for it. I read somewhere that penciling a workout into your daily or weekly calendar, and treating it as an appointment or meeting, will help you keep your date at the gym. Schedule it into your day so that you don’t keep putting it off. Then, check it off when you’re done! Not only will you feel better for having worked out, but also for checking items off your list and moving forward with your day. I’ve also heard that working out first thing in the morning is a great way to ensure that you actually do it. Being tired or too busy at the end of the day will no longer be an excuse.

Hobby/Project Set aside an hour a day to work on a hobby or project that brings you joy. Start a new blog or business. Write a book. Build something from scratch. Volunteer. Learn a new language, sport, or musical instrument. Join the PTA at your kid’s school. Attend a service at church. Go for that degree or license. Whatever the project is, spend time on it so that it can develop and grow. If it’s something you enjoy doing, it won’t feel like a chore and you will look forward to it daily. Think of all that you can accomplish with just an hour a day! The point is to immerse yourself into things that you love and that bring you joy and personal growth.

How would you spend an extra sixty minutes?

Downtown: Arts, Music, Culture

In my second blog on DTLA, we cover all things art, music, and culture. Downtown LA is brimming with museums, concert halls and street art, in addition to some stunning historic and modern architecture. Let’s explore!

Walt Disney Concert Hall In 2003, architect Frank Gehry’s vision came to life with the opening of the Walt Disney Concert Hall. Steel meets glass in this deconstructive design. The architecture is unlike anything else in DTLA, which is generally more a mix of historic charm and modern amenities. In addition to the shiny, futuristic, steel grey exterior, the interior is equally as amazing. Expert acousticians were brought in to ensure the highest in quality. It is home to the world renowned LA Philharmonic Orchestra, and it’s exterior and gardens are open for the public to enjoy.   

The Broad Steps away you will find The Broad, a contemporary art museum with over two thousand works of art. This building is yet another example of an aesthetic gem in DTLA. The exterior features a unique lattice pattern that is architecturally as unique as it is interesting. Inside, you’ll find two floors full of gallery space, featuring permanent and temporary collections. Admission is free to the public for permanent collections. The museum also hosts several exhibits and features that garner lots of fan fare. Sign up on their website for updates on special events.

Museum of Contemporary Art Last but not least, down the street, you’ll see the Museum of Contemporary Art (MOCA). This location is the main branch of MOCA, with two other locations in the LA area. It is the only artist founded museum in Los Angeles. It features seven thousand pieces, and hosts events that help present and interpret featured art and exhibitions. Outside, you’ll be entranced by a sculpture made up of pieces of old airplane parts. Inside, prepare to immerse yourself in contemporary art and art pieces. Whether you take a guided tour or explore for yourself, there will be no shortage of learning.

Which museum would you like to visit?