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Open Escrow - a great way to save money if you plan on selling soon!

Hello!

As promised, we are going to cover the advantages of an "Open Escrow" - essentially, keeping the file open at the title company, for up to 2 years. 

Why would you want to do this?  Well, if you know for certain you will be selling the property soon, this can greatly reduce the amount for your title work!  It costs more on the front end, but saves you money in the end. 

How does it work?  We request that the Title Company that handles the closing is aware of your desire.  They then charge you 125% of what a normal title policy would cost on that home.  When you go to sell it, you only have to pay for title in the difference between what you bought the house for and what you are selling it for!

Of course, you should be certain that you will sell your home within 2 years.  This is a great program for investors who purchase fix-and-flip or flip wholesale properties, since they know they will be turning the homes over quickly. 

Sharon Kotula, ABR
Adam Tarr, ePRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333

info@weareazrealestate.com

www.WeAreAZRealEstate.com

 

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