Deal’s not sealed until escrow closes

What buyers, sellers need to do to avoid delays

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

A few weeks ago, we discussed the case of a veteran Realtor who canceled a much-awaited kayak trip because an out-of-state buyer was arriving with a reported all-cash offer for one of her listings. Because such buyers were scarce, she wanted to be sure she was in town to personally handle the transaction. Buyers, sellers and refinancers also should plan to be around to handle their real estate deals. Are you about to deliver a youngster to college this fall or schedule another lengthy business trip? If so, be sure you give the same thought to pending escrow and real estate closing arrangements that you give to arrangements for the family dog, mail and newspapers -- especially if you are heading out of fax range. According to escrow agents and real estate attorneys, it's best to schedule closing at least 10 days before you depart, or wait until you return from your trip. Closings often get delayed, especially now that mortgages are under the microscope. Delays happen most ...