Wednesday, May 10, 2006

House 3: Sale Moving Forward

Last night, I faxed my agent the Seller's Property Disclosure Statement and Lead Based Paint forms. That should be the extent of the info I need to provide the seller.

I also contacted the escrow company this morning to make sure a couple things were clear. I mentioned that my title insurance policy should be the same as the one I bought last time, since I paid extra to hold the policy open. I confirmed I was getting investor rates. We also discovered the escrow write up was done incorrectly - it listed me personally as the owner of the property, instead of my LLC. That was corrected. They told me there was no need to fax them my Articles Of Incorporation since they have the copy from when I bought the house. I also mentioned I will be out of town on the closing date, which they said was no problem. And finally, I got the escrow number for my reference. Oh, I will need to provide them with my bank account information so they can wire the funds to me.

The next step in the sales process is for the buyer to have the property inspected and to present me with a list of items, if any, they want me to fix. They have until the 16th to do this.

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