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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 home or your next property, I'll advise you through the process. Contact me and I'll help you become a empowered buyer.

    Completing the Transaction

     Century 21 Judge Fite Company can walk you through closing - 940-483-1090
    Escrow: An escrow agent is brought on to assure your place closes on time and the closing process goes smoothly. When funds are held by a third party in a transaction between a buyer and a seller, it's in escrow. PayPal is a good way to picture an escrow company.

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

    Escrow agents look for the following legal documents:

    Closing on the house happens when the steps of the escrow are done. At this time, all payments and fees for inspections, title insurance and real estate commissions are taken. Title to the property is then transferred to you as buyer and correct title insurance is issued as outlined in the escrow instructions.

    At the close of escrow, fees are paid in an acceptable form to the escrow. I'll keep you updated on what comes next.

    The Escrow Holder Will:

    • Prepare escrow instructions
    • Perform a title inquiry
    • Comply with the bank's guidelines as noted in the escrow agreement
    • Intake payments 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 terms of agreement of seller and buyer are met
    • Disburse monies and finish instructions

    The Escrow Holder Won't:

    • Give advice - the escrow agent stays a neutral, third-party status
    • Dispense opinions about future tax estimations
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow instructions
    • Request title search
    • Meet lender's requirements as specified in the escrow agreement
    • Accept funds 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 are complete
    • Disburse monies and finalize instructions
    • Advise you - the escrow holder stays a neutral, third-party status
    • Offer opinions about tax implications

    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.

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