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Team Pacilio, REALTORŪ, real estate agents and broker for Carmel, Indianapolis and Fishers Indiana home listings, property and land for sale - NUMBER1EXPERT(tm)
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Real Estate Tips
Disclosure Laws >Avoiding Delays During Escrow

Unforeseen problems can arise during escrow, and closing dates are never set in stone! Lenders, appraisers, title attorneys, credit check services, or anyone who is involved in the transaction could potentially delay a closing. Stay in close touch with your real estate agent, who will notify you of deadlines and help you deal with delays.

Well-written sales contracts are the key to avoiding problems during escrow. For example, provisions can be included in the agreement that require the buyer to provide evidence of sufficient funds for down payment and closing costs, or to present proof of the ability to obtain homeowner's insurance. Because of new restrictions on insurance policies, the mortgage lender may require insurance before funding the loan.

There is also a section in the sales contract wherein the seller makes a warranty to the buyer of the condition of the property. It is important to make sure that this clause is modified to reflect the seller's transfer disclosure statement. If this is not done, the seller could be required to repair items that are found to be dysfunctional or faulty, and this could add time to the escrow period.

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Real Estate Trivia
Q 
Where is the world's oldest castle located?

A 
The castle at Gomdan, Yemon, dating from before A.D. 100, is considered the oldest castle; it originally had 20 stories.
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Team Pacilio, REALTORŪ, real estate agents and broker for Carmel, Indianapolis and Fishers Indiana home listings, property and land for sale - NUMBER1EXPERT(tm)

Team Pacilio
RE/MAX Ability Plus

15 E. Main Street
Suite 200
Carmel, IN. 46032
Direct: 317-569-9662
Office: 317-216-8500
Toll Free: 888-818-8285
Email: John@JohnPacilio.com

John specializes in value added processes for buying and selling real estate. He applies the knowledge gained from his professional consulting background in his approach to the real estate business to enhance the experience for his clients. His success is evident by a strong business growth pattern and the loyalty of his many repeat customers.

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