Chapter 11: Navigating Escrow Like a Pro — From Contingencies to Closing
With the deposit sent and escrow open, it's time to guide your clients through the heart of the transaction. Managing contingencies, securing insurance, and preparing for closing are where skilled agents shine.
What You'll Master
Manage Your Contingencies: Learn how to review inspection reports, determine which issues warrant credits, coordinate with lenders on appraisals, and handle deadline extensions before time runs out.
Talk About Insurance Early: Understand how to help buyers secure coverage, especially for older homes or in challenging markets, and when to involve insurance agents.
Understand Closing Costs: Know the difference between non-recurring costs (title insurance, escrow fees, loan fees) and recurring costs (insurance premiums, property tax prorations, mortgage interest).
Preparing for Closing: Master the final steps: confirming key handoffs, scheduling walkthroughs, ensuring property condition, and coordinating down payment wiring to avoid delays.
Want the complete guide? The full Chapter 11 includes Patty's contingency management timeline, scripts for negotiating inspection credits, her insurance troubleshooting framework, detailed closing cost breakdowns, final walkthrough checklist, and coordination templates for seamless closings.