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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
  • Don't let real estate industry jargon scare you from becoming a homeowner. I can help you become knowledgeable about the process. Call me at 8505856466 and I'll give you more information.

    Closing the Sale in Fort Walton Beach

     Coast to Coast Property Brokers can walk you through closing - 8505856466
    Escrow: When you're closing on your new house, an escrow holder is used to assure the process will close appropriately and in a certain amount of time. Escrow holders hold money for "safe-keeping" in a deal between a buyer and seller. PayPal is a simple way to think of an escrow company.

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

    The pieces of paperwork the escrow holder may collect include:

    Closing on the house takes place when all of the procedures of the escrow are complete. At this time, all payments and dues for inspections, title insurance and real estate commissions are collected. The property's title is given to you and title insurance is issued per the policies of your particular escrow process.

    The escrow holder receives a payment when the closing is complete. I'll keep you up-to-date on the procedure.

    The Escrow Holder Will:

    • Prepare escrow guidelines
    • Perform a title inquiry
    • Comply with the bank's requirements as outlined in the escrow agreement
    • Receive payments from the buyer
    • Prorate tax, interest, insurance and other fees according to guidelines
    • Record deeds and other paperwork as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse monies and finalize instructions

    The Escrow Holder Will Not:

    • Give advice - the escrow company has to remain an impartial, third-party status
    • Give insight about the outcome of your taxes
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow instructions
    • Petition title research
    • Comply with the bank's requirements as outlined in the escrow agreement
    • Accept funds from the buyer
    • Prorate insurance, tax, interest and other payments according to guidelines
    • Record deeds and other documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer are met
    • Disburse payments and finalize instructions
    • Advise you - the escrow agent has to remain an impartial, third-party status
    • Dispense opinions about the outcome of your taxes

    Mortgage Escrow Account

    Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your house. Usually, the home buyer makes a payment at closing and also makes regular deposits through their monthly mortgage payment to fund the Escrow Account.

    This is a simple outline of the escrow process. Your specific methods might be unique based on your bank and your escrow agent.

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