Escrow 123

DSCN1063Well, now that we are out of the old house and into the “TH”, the attention turns to the closing of escrows. Yes, I said escrows because there are 3 that concern us. The first is the escrow on the house that we are selling. This escrow is set to close on July 3rd, which becomes problematic in that we want to close escrow on the house in Hawaii by July 11th. That means that funds must transfer as well as paperwork from the mainland to Hawaii and get loan approval etc. in 7 days – however because of the July 4th holiday it is only 4 working days!

The upshot is that we are hoping to close early on the house here in San Diego. Our buyers are agreeable, but they have to wait until they close on THEIR house – which brings us to escrow #3. Their buyer is also OK with closing early and will hopefully do it today. Once that happens, funds change hands and the all-important HUD-1 statement goes to our buyers lender (you getting all this?) so they can give final loan approval and fund their loan on OUR old house. Only then can we move forward on closing on our beautiful little Hawaii house.

The other complication is that we are going to Kauai while all this is going on in order to do the final walk-through and sign closing docs. So everything has to fall into place just right for this to all happen. So…. stay tuned – I’m a stress-ball right now and think that drinking heavily might be in the cards over the next couple of days (haha).

Once all this plays out we start the waiting game – our next move will be to the island and we can’t wait! I can smell the Kauai coffee and ocean breezes already!!!!

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About akiva96

I lived in Southern California my entire life - until my wife, Barbara, and I decided to quit our jobs and move to Hawai'i in April of 2015.

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