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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 property, I'll advise you through the process. Call me at (858) 245-2854.

    Completing the Transaction

     Shapar Homes can walk you through closing - (858) 245-2854
    Let's talk about "escrow". A neutral, third party (known as the escrow holder or the escrow agent) is brought on to assure your home closes on time and the transaction goes smoothly. Escrow agents hold money for "safe-keeping" in transactions between a buyer and seller. PayPal is a simple way to think of an escrow company.

    Clearing the final hurdles like taking in funds, completing forms, getting the documents for loans and liens, and making sure you get a clean title to the property before your purchase gets finalized are all part of the job of the escrow agent.

    The pieces of paperwork the escrow company may collect include:

    Closing on the house takes place when all of the procedures of the escrow are complete. All payments owed and fees are collected 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.

    At the close of escrow, fees are paid in an acceptable form to the escrow. You'll know when it's time to submit the form of payment.

    The Escrow Holder Will:

    • Assemble escrow instructions
    • Request title inquiry
    • Comply with lender's standards as noted in the escrow agreement
    • Accept funds 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 terms of agreement of seller and buyer have been met
    • Disburse payments and finish instructions

    The Escrow Holder Will Not:

    • Offer advice - the escrow agent must maintain a neutral, third-party status
    • Offer opinions about the outcome of your taxes
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow instructions
    • Petition title search
    • Meet lender's requirements as noted in the escrow agreement
    • Accept payments from the buyer
    • Prorate tax, interest, insurance and other fees according to guidelines
    • Record deeds and other documents as instructed
    • Request title insurance policy
    • Close escrow when all terms of agreement of seller and buyer are complete
    • Disburse monies and finalize instructions
    • Give advice - the escrow agent stays at an impartial, third-party status
    • Give insight about tax implications

    Mortgage Escrow Account

    A Mortgage Escrow Account is established to pay recurring expenses while there is a loan on the house. Though most home buyers make payments via their monthly mortgage payment, Escrow Accounts are deposited into at closing as well.

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