Weekly Training: Opening an Escrow (Listing)

by kevinjones on January 1, 2010

in Tips

Realty Professionals  805-474-7040  Opening an Escrow (Listing).   Once you have finalized the negotiations, the offer, an and all counter offers and all necessary documentation is fully executed.  What you will have to do is sit down with the Sellers and make sure that all of the forms are completed.  Here are the Disclosures, Disclaimers and Purchase Agreement related documents:  Agency Disclosures: Buyers Agent to Buyer (AD-2), Buyer to Seller(AD-3), Any Addendums (ADM), Agent Visual Inspection Disclosure (AVID), Authorization to Receive and Convey information (ARC), Carbon Monoxide Detector Notice (CMD), Counter Offers (CO), Disclosure and Consent of Representation of More than One Buyer or Seller (DA), Lead Based Paint and Lead Based Paint Hazards (FLD), Optional Verification of Electronic Signatures (OVS), Real Estate Transfer Disclosure Statement (TDS), REO Advisory if needed (REO), Short Sale Addendum if needed (SSA), Sort Sale Information Advisory if needed (SSIA), Statewide Information and Advisory (SBSA), Water Heater and Smoke Detector Statement of Compliance (WHSD) and Wood Destroying Pest Inspection (WPA) forms.  Then there will also be the Local and Regional Disclosures also.

escrow 101 Weekly Training: Opening an Escrow (Listing)

Realty Professionals 805-474-7040

 

 

 

 

 

 

 

 

 

 
When opening the escrow you will need to provide them with the following:  Disclosure of Agency for you and the Seller (AD-1), Disclosure of Agency for the Buyer and the Buyers Agent (AD-2),  Residential Purchase Agreement (RPA-CA), Buyers Advisory (BA), Wood Destroying Pest Inspection (WPA), Listing Agreement (LA) which has the commission structure unless otherwise agreed upon in contractural negotiations and all Counter Offers (CO) and/or Addendums (AD).  You should also include a Realty Professionals Open Escrow form which includes the following information:  Escrow Company, Escrow Officer, Phone Number and Escrow # (which will be assigned by escrow), Title Company, Title Representative, Representative Phone #, Commission total and breakdown, Sellers Contact information, Buyers Agent Contact information, Lenders information, Home Warranty information and Termite Company Contact Information.

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