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  • Tax statements
  • Fire and other insurance policies
  • Title insurance policies
  • Terms of sale and any seller-assisted financing
  • Requests for payment for various services to be paid out of escrow funds
  • Whether it's your first place or your next place, I'll educate you through the process. E-mail me at Connect@mycitycountry.com to get some free information.

    Completing the Transaction

     Your City Country Connection can walk you through closing - 707-303-6358
    Let's talk about "escrow". To close the sale of a place, a neutral, third party (the escrow holder) is employed to assure the transaction will close perfectly and on time. A house is said to be in escrow when in the closing transaction, money is secured by a third party on behalf of a buyer and a seller when the transaction is taking place. For example, in an online transaction, PayPal is the secure third party that holds the buyer's payment, and then disburses the money to the seller.

    The escrow agent makes sure that the terms and conditions of the agreement between the sellers and the buyers are met in preparation of the sale being completed.

    Escrow companies compile the following records:

    Closing on the property happens when all of the procedures of the escrow are finished. All payments owed and fees are taken and paid at this time (covering expenses such as title insurance, inspections, real estate commissions). You'll then obtain the title to the home and the title insurance gets dispersed as stated in the escrow instructions.

    The escrow company receives a payment when the closing is complete. I'll keep you updated on what comes next.

    The Escrow Holder Will:

    • Assemble escrow instructions
    • Perform a title search
    • Comply with the bank's requirements as noted in the escrow agreement
    • Receive payments from the buyer
    • Prorate interest, insurance, tax and other payments according to instructions
    • Record deeds and other paperwork as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer are complete
    • Disburse payments and finalize instructions

    The Escrow Holder Will Not:

    • Advise you - the escrow company must maintain a neutral, third-party status
    • Dispense opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow instructions
    • Petition title research
    • Comply with the bank's requirements as noted in the escrow agreement
    • Intake payments from the buyer
    • Prorate interest, insurance, tax and other payments according to instructions
    • Record deeds and other paperwork as instructed
    • Obtain title insurance policy
    • Close escrow when all terms of agreement of seller and buyer have been met
    • Disburse monies and finish instructions
    • Advise you - the escrow holder must maintain a neutral, third-party status
    • Offer opinions about the outcome of your taxes

    Mortgage Escrow Account

    A Mortgage Escrow Account is established to make payments for on-going expenses while there is a loan on the house. Escrow Accounts are contributed to monthly by the home buyer (who is now the homeowner), but there is also a lump sum that goes into the account at closing.

    Now you know more about how to close on your future home. And, you can be a better informed home buyer and future homeowner.