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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
  • Buying a home for the first time can be intimidating. I can help. E-mail me at Rob@athomerealestateco.com .

    What To Expect When You're Closing in Loveland

     At Home Real Estate Company can walk you through closing - (970) 203-1101
    Escrow: An escrow agent is used to assure your house closes on time and the closing process goes smoothly. Escrow agents hold money for "safe-keeping" in a deal between a buyer and seller. An everyday way to understand what an escrow company does is to compare it to PayPal for online purchases.

    Settling the last details like obtaining funds, completing forms, securing the documents for loans and liens, and assuring you get a spotless title to the property before your purchase gets finalized are all parts of closing in which an escrow agent is useful.

    These are the pieces of paperwork that escrow agents usually look for:

    You're ready to close when all steps are finished in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. Title to the house is then given to you as now current homeowner and correct title insurance is issued as outlined in the escrow instructions.

    The escrow holder gets a payment at the completion of closing. You'll know when it's time to submit the form of payment.

    The Escrow Holder Will:

    • Write escrow instructions
    • Petition title search
    • 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 legal documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer are met
    • Disburse monies and finish instructions

    The Escrow Holder Won't:

    • Give advice - the escrow company must maintain a neutral, third-party status
    • Dispense opinions about future tax estimations
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow instructions
    • Perform a title research
    • Meet the bank's standards as written in the escrow agreement
    • Accept payments from the buyer
    • Prorate interest, insurance, tax and other payments according to instructions
    • Record deeds and other legal documents 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
    • Offer advice - the escrow company must maintain a neutral, third-party status
    • Offer opinions about future tax estimations

    Mortgage Escrow Account

    Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your 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.

    This is a quick run-down of the escrow process. Your particular methods might be slightly different based on your bank and your escrow holder.

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