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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 property or your next home, I'll educate you through the process. Contact me.

    Escrow 101

     At Home Real Estate Company can walk you through closing - (970) 203-1101
    Escrow: An escrow company is hired to assure your property closes on time and the closing process goes smoothly. Escrow companies hold money for "safe-keeping" in transactions between a buyer and seller. For example, in an Internet purchase, PayPal is the secure third party that holds the buyer's money, and then sends the money to the seller.

    The escrow company makes sure that the terms and conditions of the agreement between the seller and buyer are performed prior to the sale being finished.

    The records the escrow company may obtain include:

    Upon finishing of all portions of the escrow, closing can take place. All expenses like title insurance, inspections and real estate commissions are paid. Title to the property is then transferred to you as new owner and correct title insurance is issued as outlined in the escrow instructions.

    The escrow company receives a payment when the closing is complete. As your real estate agent, I'll inform you of the acceptable form of payment.

    The Escrow Holder Will:

    • Prepare escrow guidelines
    • Perform a title inquiry
    • Comply with the bank's guidelines as outlined in the escrow agreement
    • Accept funds from the buyer
    • Prorate insurance, tax, interest 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 funds and finalize instructions

    The Escrow Holder Won't:

    • Offer advice - the escrow holder must maintain a neutral, third-party status
    • Give insight about future tax estimations
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Prepare escrow guidelines
    • Perform a title research
    • Meet lender's standards as specified in the escrow agreement
    • Receive payments from the buyer
    • Prorate insurance, tax, interest and other payments according to guidelines
    • Record deeds and other legal documents as instructed
    • Request title insurance policy
    • Close escrow when all instructions of seller and buyer are 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 started 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.

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

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