Escrow
A WEALTH TOOL
YOUR LIBRARY OF REFERENCES FOR CLOSING YOUR TRANSACTION
enter value Your home’s projected purchase price
Escrow
When using Escrow
Understand who gets what and why
Most of us have learned to watch our dollars like a hawk when we conduct a purchase. We may honk like a goose when we get overcharged for a double burger we didn’t order. So why turn a blind eye when it comes to real money?
Home selling and buying should be no different. A few thousand here, a few thousand there; that’s your money! Would you care to know where it’s going and why? Would you like to understand who divides up the money and how possession of a home changes hands?
If so, then ESCROW can help. Tap into a concise library of one-pagers to answer your most pressing questions.
Tool box included in HomeToHome
Your skilled agent negotiates final terms
Strong technical negotiators pay dividends for you in this final stage.
Your agent’s profile: 6 qualities that influence your home’s price
Strategically choose your Agent. Your Agent’s Profile (below) affects all stages. Use HomeToHome’s Agent AQ Search to choose your agent. Review their Agent Service Plan and use your Guide’s checklist to evaluate.
- Client Preparation: Educate client for each stage, strategically prepare clients.
- Market Alignment: Align client to inventory, pricing, timing, and opportunity.
- Property/Purchaser Acquisition: Identify best properties/buyers for client’s needs.
- Negotiation: Maximize value for client: negotiate & execute purchase.
- Vendor Management: Coordinate inspectors, appraisers, lenders, contractors, etc.
- Execution: Orchestrate all elements of a purchase agreement to protect client’s interests.
6 key factors that effect a home’s value
Home Leverage Profile reflects property characteristics, the seller’s timing & motivation, and the market. Use HomeToHome’s MarketPrice and RateThisHome to maximize Home Leverage.
- Home condition : Size, location, age, structural integrity, upgrades, staging, curb appeal
- Market Conditions : Comparables: active, pending, recently sold. Local economy
- Marketing : Price strategy, media creation, target buyer type, advertising campaigns
- Market Timing/Buyer Pool : Maximize demand of qualified buyers
- Seller Position : Timing, motivation, & equity position
- Title condition : Clean, encumbered, restrictions, CC&R’s, liens, etc.
Your value profile: 6 key factors that effect your home’s price
The 6 factors of Buyer or Seller “readiness” qualifies the client’s option to act decisively and favorably. A strong buyer is more attractive to a seller. They’re more likely to close the sale on the home. Similarly, a strong seller is already prepared and aligned with the market. Use your Lender’s Finance Plan and Profile, LoanSense and CashToClose tools to sharpen your negotiating position.
- Representing Agent: Expertise, competence and integrity
- Home: Expectations, location, condition, and list price
- Finances: Loan(s), cash position, equity, tax considerations
- Motivation: Readiness and desire to execute
- Execution: Client’s ability to cooperate with trust and honesty
- Credit: Client’s understanding of significance, qualification process, and true cost of credit
Home’s Price Profile: 4 key factors that determine a home’s value
After you have optimized your Home’s Leverage Profile, your Agent influences the Home’s Price Profile in your favor. The Home’s Price Profile is determined during negotiation between the Buyer & Seller. The Price Profile is described by these 4 factors:
- The List Price is the advertised price of a home. It should not be confused with a Market Price or Sold Price.
- The Home’s Market Price is the expected sales price of what a ready, willing and able buyer will pay.
- The Home’s Appraised Value, conducted by an independent professional on the Lender’s behalf, may affect the buyer’s ability to purchase.
- The Home’s Sold Price is the negotiated price that the seller is willing to accept and a buyer will pay.
Use HomeToHome’s HomeScene tool to generate different Term Sheet scenarios when negotiating for your most favorable Sold Price.
How to use Escrow
Get answers in your Escrow library
