Handling Real Estate Issues In California

What Are The Most Common Reasons Why A Real Estate Sale In California May Fall Through?

Unexpected problems with the property can cause a sale to fall through. This can include physical conditions (such as mold or foundation damage) or title defects. Lack of financing, an appraisal amount lower than the sale price, and buyers getting cold feet can also end a real estate sale. 

How Does The Closing Process Work For Real Estate Sales In California?

In California, real estate sales typically go through an escrow company, although the process differs slightly between Northern and Southern California. In the northern part of the state, the title insurance company that issues the title insurance also handles the escrow. In contrast, Southern California separates these roles, with independent escrow companies collaborating with title insurance providers.

During escrow, the buyer’s deposit and the purchase contracts are held. The escrow company then prepares documents for both parties to sign, outlining the terms under which the sale will be finalized. Closing documents are also drawn up, and a notary public (or “closing agent”) may be sent to the buyer’s and seller’s locations to gather signatures.

Once all required documents are signed and the purchase funds are secured, the escrow company records the deed with the county and releases the funds to the seller, completing the transaction.

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