When escrow is opened the buyer’s deposit check will be cashed. Assuming the sale goes through, this money will be applied to the purchase price of the home. If for any reason the sale is not consummated, a buyer may be entitled to receive all of their deposit back, depending on the reason, less standard cancellation fees. In certain instances, the seller may be able to retain this money as liquidated damages. Prior to executing a purchase contract it would be wise to speak with your agent or attorney regarding … [Read more...]
The Escrow Process – Part 1
June 29, 2012 by Leave a Comment
Congratulations! You’ve negotiated an agreed upon sales price on a perfect piece of Big Bear real estate. So now what happens? It’s time to open escrow. Very simply defined, an escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a particular condition or event. In California, escrow companies are regulated by the Department of Corporations or the Department of Real Estate and must undergo constant scrutiny. They are required to hold funds in … [Read more...]
Big Bear Real Estate – From “For Sale” to “SOLD”
April 25, 2012 by Leave a Comment
When it comes to selling Big Bear real estate you have to understand the marketing process to reach the ultimate goal of a closed escrow. Here are a few crucial tips for selling your Big Bear home in today’s challenging market. Choose the right agent Choosing an experienced agent to help guide you is the most important step in the marketing and sales process. Unfortunately, there are dozens of agents that claim to be Big Bear real estate “Experts”. Working with an unqualified agent can cost you time and money. … [Read more...]
