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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Shannon Aronson
Keller Williams Realty Premier Properties
488 Springfield Avenue
Summit, NJ. 07901
Mobile: 973-214-0691
Office: 973-376-0033 x 124
Fax: 908-273-2996
Email: ACutAbove@ShannonAronson.com

Shannon started her local real estate career 8 years ago with investment properties, both renovating houses for resale and acquiring rental properties. Because of her experience with buying and selling, Shannon is sensitive to the needs and expectations of buyers and sellers. Shannon Aronson has a Masters degree from New York University. Whether in life or in business, Shannon Aronson approaches her goals with unbridled determination, commitment and enthusiasm. Her dedication to achieving only optimal results makes her a sought after real estate agent in the area. Shannon uses her investment experience, her skills in negotiation and cutting edge Internet marketing to help her clients achieve their dreams. When you’re in the market to buy or sell your home in the area, Shannon Aronson and her team of competent professionals will deliver results that are A Cut Above. Looking for Real Estate in Short-Hills, Millburn, Summit, Maplewood & Livingston, New jersey, I can help! call today to schedule a private consultation.