When selling a home, the escrow process often becomes a source of overwhelming stress and financial uncertainty for property owners. The escrow period extends from accepting a purchase offer through the final transaction completion. During this phase, buyers and sellers must satisfy numerous complex requirements to transfer ownership successfully. While this process typically drags on for months with traditional MLS listings, everything accelerates dramatically with a direct sale to NLS Homes.
In this detailed guide, we’ll explain the standard escrow process steps and what homeowners should expect when selling a house in Henderson. We’ll also show how a direct sale to NLS Homes can streamline everything substantially and eliminate the typical headaches and delays.
Step 1: Opening Escrow
The initial step in escrow involves opening the transaction file. This is usually handled by the buyer’s real estate agent, who forwards a copy of the signed purchase agreement to the escrow company. The escrow company then creates a file and provides detailed instructions to both parties outlining their upcoming obligations.
Step 2: Title Search and Insurance
The next step requires conducting a title search and securing title insurance. This process confirms the property title is clean and free from liens, encumbrances, or other issues that could block the sale. The escrow company collaborates with a title company to complete the search and secure the necessary insurance protection.
Step 3: Home Inspection and Repairs
Following the title search and insurance requirements, buyers typically arrange for a professional home inspection. The inspection uncovers any property defects that require attention before closing. Sellers must then complete necessary repairs or provide buyer credits to cover repair costs.
Step 4: Appraisal
After repairs are finished, the buyer’s lender usually orders a property appraisal. The appraisal confirms the property value matches the agreed purchase price. If the appraisal falls short of the sale price, buyers may demand renegotiation or sellers might need to make additional upgrades to increase the property’s evaluated worth.
Step 5: Contingencies
Throughout escrow, multiple contingencies must be satisfied before completing the sale. A contingency represents a requirement that must be met for the transaction to proceed. Common examples include buyer financing approval or seller property repairs. The escrow company verifies all contingencies are resolved before allowing the sale to close.
Step 6: Closing
Once all escrow requirements are satisfied, the sale can advance to closing. This involves transferring ownership from seller to buyer and executing the financial transaction. The escrow company ensures all required documents are signed and funds are properly distributed.
As shown, the escrow process can be time-consuming and overwhelming for property owners. Fortunately, there’s a faster and much simpler alternative – a direct sale to NLS Homes.
Why Choose NLS Homes?
With a direct sale to NLS Homes, you can bypass the traditional escrow process entirely. Instead, NLS Homes will present a fair offer on your property and can close the transaction within 7 days. This eliminates the stress and uncertainty of conventional escrow while providing cash for your property quickly.
Additionally, a direct sale to NLS Homes provides many other advantages. You won’t need to make repairs or stage your property for countless showings. NLS Homes purchases properties in their existing condition, regardless of damage or required improvements. This saves you both time and money while simplifying the entire process.
Another major benefit of selling directly to NLS Homes is eliminating real estate agent commissions and related fees. Traditional MLS listings require paying commissions to both buyer’s and seller’s agents. These costs can total thousands of dollars. With NLS Homes, there are no commissions or hidden fees, allowing you to keep more of your sale proceeds.
Most importantly, a direct sale to NLS Homes offers certainty and peace of mind. Traditional MLS listings always carry the risk of deals falling through during escrow. This can be especially devastating for homeowners relying on the sale proceeds. With NLS Homes, you can be confident the sale will close as promised and you’ll receive cash for your property.
The escrow process can create a demanding and drawn-out experience for homeowners. Thankfully, there’s a more efficient and stress-free option – a direct sale to NLS Homes. With NLS Homes, you can avoid the uncertainty and complications of traditional escrow while receiving cash for your property in as little as 7 days. If you’re ready to sell your property in Henderson, contact NLS Homes today to discover how we can help you. (702) 601-1673