First Priority Escrow offers assistance to buyers and sellers who have decided to complete an individual FSBO. Our escrow agents have years of knowledge and experience, necessary to handle For Sale by Owner transactions and can help guide individuals through the local and federal technicalities and regulations. Because this is not a standard residential escrow transaction, there are additional requirements that are needed to ensure the process is completed correctly. First Priority Escrow is here to you and other parties through this process as quickly and easy as possible. Please call us today with any questions or if you would like us to help you start your FSBO today.
For Sale By Owner Escrow
To save money on a Real Estate commissions some buyers and sellers choose to handle the transaction themselves. While this can save money, it might not always save time or the headaches that come along with an important transaction. To help with individuals choosing to handle the process themselves, First Priority Escrow offers to be a neutral “3rd party”. This allows us to help the buyer and seller understand the local, state and federal guidelines that regulate the real estate transaction. More often than not, there is a great advantage to having an escrow company involved in the transaction. If you are planning on completing a For Sale By Owner (FSBO) please call us right away so we can help you through the strict guidelines.
At First Priority Escrow, we ensure that all FSBO’s are handled with the secure protection that individuals need when completing an important transaction like a buying or selling a property. By allowing First Priority Escrow to protect the funds and documents, everyone can rest assured knowing that the transaction and all of its complexities are protected at all times until the escrow is closed.
When beginning an FSBO without a real estate agent, anyone can open escrow but, traditionally the seller opens escrow. This is due to the fact that they have the signed purchase agreement and hold the buyer’s “good faith deposit”. It is important that you work with a full service escrow company and provide the transaction instructions along with any funds so that all parties are protected at all times.
Our For Sale By Owner escrow services include:
- Securing beneficiary statements and payoff demands from the lender
- Preparing escrow instructions
- Ensuring documents are properly executed
- Requesting the title report
- Obtaining loan documents and instructions
- Obtaining documentation to clear any liens
- Secure depository of funds and disbursement at the close of escrow
- Prorating utilities, interest, taxes and dues
- Responding to all communications from involved parties
- Recording documents like the deed of trust
- Requesting deed of trust or reconveyance of mortgage to be paid