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Whether you’re a young professional looking to invest in your future, a couple ready to settle down and start a family, or someone starting a new chapter in your life, buying a home is a significant milestone. But, it can also be an overwhelming and complex process. That’s why the Department of Real Estate has created this podcast, First Home California – to provide you with knowledge and insights. Our goal is to help you get to a place where you know what to expect during the homebuying process, and to help you make sure you’re ready to make informed decisions about what will likely be the biggest purchase of your life. Each episode will focus on a specific part of the homebuying process and provide consumer protection tips.
Episodes
Thursday Jan 04, 2024
Thursday Jan 04, 2024
In this episode we talk about how escrow works. When you’ve made a final offer on a home and reached an agreement with the seller, you start the escrow process in which a neutral third party manages funds and assets, and ensures all conditions of the sale are met before the property changes hands.
Topics covered include:
- When escrow officially starts
- The mindset a first-time homebuyer should have during escrow
- Who is responsible for identifying an escrow company to use, whether a homebuyer can choose the escrow company, and who contacts the escrow company to open an account
- What title search and title insurance are
- What kind of contact the homebuyer can expect to have with their lender
- Whether it’s common for sellers pay for a home warranty for the first year
- What happens at document signing
Our Guest:
- Lynn Bishop, Escrow Officer at Placer Title Company
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