This is a sad, but true story about my first real estate listing.
It was 1974 and I was brand-new to residential real estate in San Jose, California..
I had taken my first listing and it sold quickly with a 45-day escrow despite the fact that we could’ve closed sooner.
Thanks to a lack of training and being brand-new in real estate, I thought it was necessary to use all of the specified days of an escrow.
I thought a 45-day escrow required 45 days to close.
All went well until the 42nd day of my escrow when I got a phone call from the buyer’s agent, informing me that his buyer had died in a car accident on the Bayshore Freeway during the morning commute.
That was the day I learned that short escrows are a good thing!
If it’s possible, and both buyer and seller agree, it’s best to close escrow as soon as possible.