Comments on: Horses and Beggars and Tinkers – Oh My! http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/ A San Diego Real Estate Web Log Fri, 30 Jul 2010 07:03:29 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: The San Diego Home Blog » Blog Archive » An Uncivil War http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/comment-page-1/#comment-6410 The San Diego Home Blog » Blog Archive » An Uncivil War Sun, 03 Dec 2006 17:21:16 +0000 http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/#comment-6410 [...]    Random Post: Horses and Beggars and Tinkers - Oh My! RSS .92| RSS 2.0| RSS 2.0 COMMENTS| ATOM 0.3 [...] [...]    Random Post: Horses and Beggars and Tinkers – Oh My! RSS .92| RSS 2.0| RSS 2.0 COMMENTS| ATOM 0.3 [...]

]]> By: Steve Berg http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/comment-page-1/#comment-168 Steve Berg Mon, 17 Jul 2006 21:07:29 +0000 http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/#comment-168 I think it's worth emphasizing how important an escrow company is to a transaction. As a refresher, escrow companies are the "independent" third party whose job it is to ensure all of the transactional paperwork is completed and filed for the protection of all parties. They also coordinate the lender/financing/loan documents with the title company and ensure that the loan and deed records timely (in theory) and properly. Similarly, title companies are responsible for conducting the investigation which reveals any liens and/or other encumbrances to title (ownership) and, ultimately insures clean title to the buyer. If your escrow company/escrow officer is proactive, life will be good for all. If not, life can suck. Not all escrow companies are created equally. As in all professions, some are better than others. Experienced agents usually fight to name the ones they know and trust in a transaction. But, in some cases (such as a buyer who is in escrow with the home they are selling and needs a concurrent closing with the home they are buying) we do not have a choice. Whether you are a buyer or a seller, it's a good idea to discuss the subject (of escrow and title companies) with your agent early in the process. In addition to giving yourself the best opportunity to get great service and a smooth escrow, you will also have the chance to get the most competitive pricing. Most transactions are typically emotional for both the buyer and the seller (and the agent). Having a top notch escrow company removes the potential for adding unecessary fuel to the emotional fire. I think it’s worth emphasizing how important an escrow company is to a transaction. As a refresher, escrow companies are the “independent” third party whose job it is to ensure all of the transactional paperwork is completed and filed for the protection of all parties. They also coordinate the lender/financing/loan documents with the title company and ensure that the loan and deed records timely (in theory) and properly. Similarly, title companies are responsible for conducting the investigation which reveals any liens and/or other encumbrances to title (ownership) and, ultimately insures clean title to the buyer. If your escrow company/escrow officer is proactive, life will be good for all. If not, life can suck. Not all escrow companies are created equally. As in all professions, some are better than others. Experienced agents usually fight to name the ones they know and trust in a transaction. But, in some cases (such as a buyer who is in escrow with the home they are selling and needs a concurrent closing with the home they are buying) we do not have a choice.

Whether you are a buyer or a seller, it’s a good idea to discuss the subject (of escrow and title companies) with your agent early in the process. In addition to giving yourself the best opportunity to get great service and a smooth escrow, you will also have the chance to get the most competitive pricing.

Most transactions are typically emotional for both the buyer and the seller (and the agent). Having a top notch escrow company removes the potential for adding unecessary fuel to the emotional fire.

]]> By: Kris Berg http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/comment-page-1/#comment-166 Kris Berg Sun, 16 Jul 2006 14:16:07 +0000 http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/#comment-166 I see this as we near closing all of the time. Something happens to potentially delay or disappoint, and the clients blame the agents, the agents blame the lenders, escrow, each other. It's like a bunch of kids on the playground with no one willing to take responsibility ("It's not my fault! Bobby did it!). The clients, of course, get stuck in the middle. As for escrow companies and your roles, I am reminded on a daily basis how hard you work for little or no recognition. Escrow is the goat when something goes wrong, and seldom recognized when things go as they should. I see this as we near closing all of the time. Something happens to potentially delay or disappoint, and the clients blame the agents, the agents blame the lenders, escrow, each other. It’s like a bunch of kids on the playground with no one willing to take responsibility (”It’s not my fault! Bobby did it!). The clients, of course, get stuck in the middle. As for escrow companies and your roles, I am reminded on a daily basis how hard you work for little or no recognition. Escrow is the goat when something goes wrong, and seldom recognized when things go as they should.

]]> By: Tim http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/comment-page-1/#comment-165 Tim Sun, 16 Jul 2006 07:33:17 +0000 http://sandiegohomeblog.com/2006/07/15/horses-and-beggars-and-tinkers-oh-my/#comment-165 Great post. Although I work in a different market, I could not agree more. Go observe for a week in an escrow office and you'll be completely shell shocked by the internal bickering and posturing between agents. It will blow you away how they mistreat support staff trying to help them with a smooth closing. My wife was in a signing just the other day with a client who had to discuss a question with her agent. Her cell phone was turned up enough that we could hear the conversation across the table. No kidding, this is what the agent said: "i know, I know, escrow doesn't get it, they don't know what the hell they are talking about." And whom do you believe that was the one mistaken? To think this agent recommended our office to close the transaction. Unbelievable. Great post. Although I work in a different market, I could not agree more. Go observe for a week in an escrow office and you’ll be completely shell shocked by the internal bickering and posturing between agents. It will blow you away how they mistreat support staff trying to help them with a smooth closing.

My wife was in a signing just the other day with a client who had to discuss a question with her agent. Her cell phone was turned up enough that we could hear the conversation across the table. No kidding, this is what the agent said: “i know, I know, escrow doesn’t get it, they don’t know what the hell they are talking about.”

And whom do you believe that was the one mistaken? To think this agent recommended our office to close the transaction. Unbelievable.

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