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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 
What four states in the Southwest are noted for having boundaries that touch.

A 
New Mexico, Arizona, Utah and Colorado, referred to as the "Four Corners", have adjoining boundaries.
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DeLois Smith All Star Team, REALTOR®, real estate agents and broker for HattiesburgMississippi home listings, property and land for sale - NUMBER1EXPERT(tm)

DeLois Smith All Star Team, REALTORS®
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Hattiesburg, MS. 39402
1-800-335-6477
Office: 601-545-3900
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Email: deloishomes@NUMBER1EXPERT.com

DeLois Smith brings you over 30 years of experience along with the most innovative marketing strategies in the real estate industry. Put The DeLois Smith All Star Team, REALTORS® to work for you as you consider your next home sale or purchase. The All Star Team holds the highest volume of sales in Greater Hattiesburg with nearly 200 million in sales since 1998! Experience the team approach to real estate and make us your REALTOR® for life! See how The DeLois Smith All Star Team, REALTORS® really is bringing Hattiesburg home again and again ™.

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