Escrow and closing
Has escrow opened?
- Yes
- Not yet
Escrow and title
Escrow is a neutral company that holds the buyer's money and everyone's paperwork, and only releases them when the contract's conditions are met. Title is the company that checks who legally owns the home, clears old liens, and insures the buyer and lender against surprises. In San Diego they're usually two companies. Escrow costs about $2 per $1,000 plus $250 (~$2,250 per side on $1M). The seller usually pays for the buyer's owner's title policy here ($2,000–$2,800 on $1M).
The fee comes out of escrow. Nothing before.
The flat fee comes out of escrow when you close. If your home doesn't sell, or you change your mind, you owe nothing — there's nothing to refund because nothing was taken.
See the plansBased on a $1M San Diego home where the seller offers 3% to the buyer's agent. Applied to closing costs first. How much can go to you beyond that depends on your loan. Estimate only, not a guarantee.
The prelim
The preliminary title report (prelim) arrives in the first week. It lists everything recorded against your home: your mortgage, any liens, easements, HOA. Read it. If there's a lien you forgot about (an old contractor, a paid-off loan never released), now is when you fix it, not the day before closing.
Full service for $4,999, not $30,000.
Photos, pricing, negotiation, showings, inspections, Zillow Pro Agent — the whole job, done for you. One flat $4,999 out of escrow, whatever your home sells for.
Compare the plansBased on a $1M San Diego home where the seller offers 3% to the buyer's agent. Applied to closing costs first. How much can go to you beyond that depends on your loan. Estimate only, not a guarantee.
3 more screens in this lesson, plus the tool at the end. Both come with a plan.
See the plans