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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. Contact me.

    I'll Champion for You Through Closing

     Suburban Realty can walk you through closing - (907) 248-3606
    Escrow: To close the sale of a house, a neutral, third party (the escrow company) is engaged to assure the process will close perfectly and on time. A home is said to be in escrow when in the closing transaction, money is secured by a third party on behalf of a buyer and a seller when the exchange of money takes place. For example, in a Web transaction, PayPal is the reliable third party that holds the buyer's money, and then disburses the money to the seller.

    The escrow holder makes sure that the terms and conditions of the agreement between the two parties are reached in preparation of the sale being finalized.

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

    Closing on the home happens when the steps of the escrow are done. All outstanding payments and fees are collected and paid off at this time (covering expenses such as title insurance, inspections, real estate commissions). You'll then receive the title to the house and the title insurance gets dispersed as noted in the escrow instructions.

    When closing is in it's last step, you'll pay the fees to the escrow company. You'll know when it's time to submit the form of payment.

    The Escrow Holder Will:

    • Prepare escrow instructions
    • Petition title research
    • Meet the bank's standards as outlined in the escrow agreement
    • Intake funds from the buyer
    • Prorate interest, insurance, tax and other payments according to instructions
    • Record deeds and other documents as instructed
    • Request title insurance policy
    • Close escrow when all terms of agreement of seller and buyer have been finished
    • Disburse funds and finalize instructions

    The Escrow Holder Will Not:

    • Offer advice - the escrow agent must stay at a fair, third-party status
    • Dispense opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Petition title search
    • Meet the bank's requirements as outlined in the escrow agreement
    • Receive funds from the buyer
    • Prorate interest, insurance, tax and other payments 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 met
    • Disburse payments and finalize instructions
    • Give advice - the escrow company stays at an impartial, third-party status
    • Dispense opinions about future tax estimations

    Mortgage Escrow Account

    A Mortgage Escrow Account is used to pay rolling fees while there is a loan on the 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.

    Now you know more about being in escrow. And, you can be a smarter home buyer and future homeowner.

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