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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 walk you through the process. Call me at 707-303-6358.

    What To Expect When You're Closing in Guerneville

     Your City Country Connection can walk you through closing - 707-303-6358
    Let's talk about "escrow". When you're closing on your new house, an escrow company is used to insure the process will close without problems and on time. A house is said to be in escrow when in the closing transaction, funds is secured by a third party on behalf of two parties (in this case, a buyer and a seller) when the exchange of money takes place. For example, in an Internet transaction, PayPal is the reliable third party that holds the buyer's funds, and then sends the money to the seller.

    Settling the last details like receiving funds, completing forms, obtaining the documents for loans and liens, and making sure you get a clear title to the house in preparation of your purchase gets finalized are all parts of closing in which an escrow agent is useful.

    These are the legal forms that escrow holders usually look for:

    You're ready to close when all steps are done in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. Title to the home is then given to you as new owner and appropriate title insurance is issued as noted in the escrow policy.

    When closing is done, you'll submit a payment to the escrow holder. As your real estate professional, I'll let you know what is an acceptable form of payment.

    The Escrow Holder Will:

    • Write escrow instructions
    • Request title search
    • Meet the bank's standards as noted in the escrow agreement
    • Receive funds from the buyer
    • Prorate insurance, tax, interest and other payments according to instructions
    • Record deeds and other legal documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse payments and finish instructions

    The Escrow Holder Will Not:

    • Advise you - the escrow agent stays a neutral, third-party status
    • Dispense opinions about the outcome of your taxes
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Petition title inquiry
    • Comply with the bank's requirements as specified in the escrow agreement
    • Intake payments from the buyer
    • Prorate insurance, tax, interest and other payments according to instructions
    • Record deeds and other legal documents as instructed
    • Request title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse payments and finalize instructions
    • Offer advice - the escrow company must stay at a fair, third-party status
    • Offer opinions about the outcome of your taxes

    Mortgage Escrow Account

    A Mortgage Escrow Account is used to pay recurring fees 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.

    Once you have the rules of the escrow process down, you can be a informed buyer.