Seller's Guide
Simplifying the Home Selling Process with Step-by-Step Guidance
Find Your Path
Selling a property can be an exciting and confusing time for many homeowners. Understanding the steps involved in the process can help you make informed decisions and ensure a smooth transaction. That's why Pathway Escrow has put together this comprehensive guide for sellers. This guide will walk you through the key steps involved in the selling process, from preparing your property to closing the sale. Whether you're a first-time seller or have experience with real estate transactions, this guide will provide you with valuable information to help you achieve your goals.
Starting on The Path
You are ready to open escrow. What is expected from the seller?Contact Information:
- Address, phone(s) and email address
Preferred manner of communication
Phone, email, regular mail, etc?
Mortgage Information:
Name, address and loan number for each lender to whom you are making payments
Providing escrow with current mortgage statement(s) is helpful
Homeowners Association(s):
- Provide the name and contact information of your insurance agent.
- Provide the amount of the monthly dues
- Advise escrow if payments are delinquent
Statement of Information:
- You will be asked to complete a Statement of Information - click here for form
Identification:
- All sellers will be requested to provide a valid government-issued I.D. if notarial services are provided
Check your identification:
- All buyers will need to provide a valid, government-issued ID when signing loan documents.
Any unusual information:
- If you're married, but your spouse is not going on the title, a Quitclaim Deed may be required.
- If you're going through a pending divorce, separate appointments or escrow packages may be requested.
- A Power of Attorney may be needed if you have vacations or business trips planned during escrow.
- Purchasing another home and using funds from this sale, etc.
The Road Map
How can the seller help insure a smooth transaction?Your realtor:
Your realtor will be assisting you with all required inspections including the home inspection, appraisal, pest inspection, any repair issues, etc.
- Your realtor will insure that all contingencies are removed in a timely fashion
- Your agent and/or escrow officer will be providing copies of inspections as necessary for your review
Homeowners Association(s):
- Many HOA management companies require advance payments to provide copies of the governing documents. Should this be applicable, escrow may request that you furnish a check for payment of these advance fees. Any questions should be directed to your management company
Payments during escrow:
- All mortgage and/or HOA payments should be kept current during escrow.
- Should a payment be due within a week of closing, contact escrow for further instructions
- Payments of this kind may have an impact on the final settlement.
Property Taxes:
- If your property taxes are paid by your mortgage company, any unused funds will be refunded to you by your mortgage company following the closing.
- If a property tax payment is due while you are in escrow, contact escrow for payment instructions
Communication
Pathway Escrow is "High Tech/High Touch"- You're encouraged to meet the escrow staff and get to know them.
- Required reports and documents are available via hard copy or email.
- Communication with escrow staff is available via phone, email, or text.
- After-hours appointments are available upon request.
You're Home!
Escrow is almost ready to close. Now what?Realtor:
- Have all repairs requests been handled?
- Are you prepared to turn over possession to the buyer per contract terms?
Escrow:
- You will be provided with a final estimated settlement statement, an authorization to close and any other documentation needed to complete the escrow file, please review carefully
- If there are any revisions to the settlement statement, communicate with escrow
- Have you given instructions to escrow regarding distribution of your proceeds?
- If you are purchasing another home or property and would like all or a portion of your proceeds wired to that escrow, please communicate with escrow holder
- Upon final verification of all escrow/contractual requirements, authorization will be given by escrow to “close escrow”, all parties will be notified when closing has been confirmed.
Home Owners Association:
- If your property has common area keys, cards, transponders, etc., they may need to be turned into escrow prior to closing to avoid any unnecessary charges
Escrow is closed
Congratulations! Next Steps- Upon final audit of your file, escrow will provide you with the final settlement statement and any necessary documents
- Have you provided escrow with your forwarding address if applicable?
- Communicate with escrow regarding the delivery method of this closing package (mail, pick-up, c/o agent, etc.)
- Proceeds will be distributed per your instructions typically within one business day following closing
- Your realtor will assist in the transfer of possession and keys (including mailbox key if applicable
Sellers FAQ
If the property taxes are due while you are in escrow, please contact the escrow holder for further instructions. Placing a personal check in the mail directly to the Tax Collector’s office may cause funds to be held from your proceeds at closing, awaiting clearance of that check and/or posting by the County.
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