A. Escrow is a 30-40 days period when a third party holds the buyer's funds until both you and the buyer meet contractual requirements. Here are a few things any home seller should do:
When you receive an offer, add the clause "exact legal description to follow in escrow" to the offer. This gives you time to address any issues found during the escrow process, such as a clerical error that affects the deed of your property.
Limit closing adjustments by striking out the phrase "any other acceptable to buyer" in the contract, which can lead to you being charged costs that are not your responsibility. Also delete this phrase if it appears in the list of exceptions - any exceptions, such as easements, should be clearly spelled out.
Ask your agent what time is reasonable for the buyer to review your seller disclosure, which discloses problems such as a large stain on the carpet or termite damage.
Remove any buyer language asking for copies of all instruction manuals for appliances, original blueprints and other documents, which you may not have.