From the standpoint of brokers and agents in the sale of real property, it is desirable for escrow to close as soon as possible, in addition to being paid upon close of escrow for services rendered. Unfortunately, issues involving real property law can cause delays, or in some instances, cause escrow not to close at all.
While contractual and lender financing issues are common reasons why some escrows fail to close, real property issues are another common cause for concern. The preliminary title report should reveal whether there are clouds on title that must be cleared in order to let marketable title to be transferred to the buyer.
There are two common themes here:
- Can the seller clear title by arranging the necessary payment to remove listed items on the report before escrow is due to close?
- Does the seller hold title, and is the seller able to convey title to the buyer?
Contracts and Challenges
In situations where title is held jointly between divorced spouses or other persons who are not parties to the contract; where title is held by persons who are not the seller, such as a trust or business entity; or where title is in the name of a deceased person, special challenges may threaten to delay or prevent closure of escrow.
Our experienced attorneys and professionals are familiar with these issues and have experience in achieving a quick resolution for all involved. While real estate professionals and the title companies are often able to resolve matters, sometimes an experienced real estate and probate attorney is necessary to help facilitate close of escrow, and to assure the proper parties’ transfer of marketable title to the transaction.
Let Our Roseville Real Estate Lawyers Help You
If you are looking for a quick real estate resolution that may be preventing escrow, please contact NewPoint Law Group, LLP at 800-358-0305 or message us online to schedule a free consultation.