Posts in Escrow
Take a deep breath, it’s still January. I know that some listings aren’t getting the showings we hoped for, but properties listed under $500,000 are getting showings and offers are being accepted.
Naples, Fla. (July 21, 2016) - As Collier County's resale housing inventory levels continue to outpace last year's levels, median closed sale prices for homes over $300,000 remain fairly unchanged.
What happens in Miami real estate can effect the real estate industry statewide.
When one party defaults on a contract, is the deposit returned to the buyer or kept by the seller? Usually the Seller is adamant that they are entitled to the escrow. In most situations, however, they are not entitled to it. For example, financing waivers. Recently one seller was confident he was entitled to the escrow deposit because the buyer let his contingency date pass and his agent did not extend the financing contingency. Because the buyer did not SIGN a waiver, he got his money back. Lenders take longer to provide a loan commitment and therefore, the homeowner takes his home out of the market for that extended period of time, missing opportunities.