Advice From An Escrow Pro

Advice From An Escrow ProIn getting through the escrow process there are, undeniably, many things that can go wrong along the way. Knowledge of what not to do from the get-go can save many investors ample effort (and headache!) throughout this process. Hence, we at Wheelhouse got together with Catherine Phillips from First American Title Company for a list of the Top 4 Things NOT to do in Escrow:

1) Don't neglect to choose the correct title insurance coverage, taking into account whether the coverage should be extended rather than standard.

2) Don't begin work on your property prior to closing, as this may create a "Loss of Priority" down the road.

3) Don't keep your 1031 exchange (or anything, for that matter) a secret from your escrow officer.

4) Don't pay extra taxes. Always take into account the 3.33% withholding rules.

Adherence to this list really has made a big difference for our investors, and we are confident that you will find them useful! Watch the video for more information on each of these important points.

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News & Politics

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• multifamily
• real estate
• investment
• wheelhouse
• brokerage
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