The escrow process is hectic. Many home buyers get consumed with negotiating the purchase price and repairs with the seller. In addition to this, there are some key things to do before you close escrow and keys get handed to you. In this post, we list five things to do before you close escrow that you may not be considering.
Attain umbrella insurance quotes.
Consider transferring property to a Trust or some entity that avoids probate.
Visit the Assessors’ Office and ask as many questions as you can regarding property tax and supplemental property tax.
Visit Building and Safety (your local building department) to review all existing permits and more importantly identify any open permits.
Ask your Escrow Officer for an estimated closing statement (settlement statement) which identifies any negotiated credits, deductions, and all closing fees. Bonus Prepare to update USPS, DMV, utilities and communicate your new address to all relevant parties.
Prepare to update USPS, DMV, utilities, and communicate your new address to all relevant parties.