Article: FSBO ?the Secret Of 'after Settlement Escrow' To Solve Problems
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FSBO ?the Secret Of 'after Settlement Escrow' To Solve Problems
Most FSBOs (people who are selling their own homes) are aware of the conventional use of escrow. In this article, we look at ways to use escrow to solve problems.
Escrow
Escrow means different things in different parts of the country. In California it?s part and parcel of the settlement process. In Virginia, while there?s no formal escrow before settlement, the settlement agent gathers title information, draws or has a deed drawn, coordinates with the lender, receives various inspection reports and in general conducts an informal escrow in the days before settlement. The difference is that, in Virginia, usually documents aren?t signed by the parties until they meet at the settlement table. It?s the use of escrow after this period that we?re concerned with here...
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