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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
  • The process of buying real estate for the first time can be intimidating. Let me help you. E-mail me at chs@silverhouses.com to get some free information.

    I'll Champion for You Through Closing

     Silver International Realty, Inc. can walk you through closing - 855-693-3572 X 1
    Escrow: When you're closing on your new home, an escrow holder is used to ensure the transaction will close properly and in a timely manner. Escrow holders hold money for "safe-keeping" in transactions between a buyer and seller. PayPal is a simple way to think of an escrow company.

    Settling the last details like obtaining funds, completing forms, securing the documents for loans and liens, and making sure you get a clean title to the home before your purchase gets finalized are all part of the job of the escrow company.

    Escrow agents want to acquire the following records:

    You're ready to close when all parts are finished in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. Title to the house is then transferred to you as new homeowner and related title insurance is issued as noted in the escrow policy.

    At the close of escrow, in an acceptable form to the escrow. As your real estate professional, I'll let you know what is an acceptable form of payment.

    The Escrow Holder Will:

    • Write escrow guidelines
    • Perform a title search
    • Meet the bank's requirements as specified in the escrow agreement
    • Accept funds from the buyer
    • Prorate tax, interest, insurance and other fees according to instructions
    • Record deeds and other legal documents as instructed
    • Request title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse payments and finish instructions

    The Escrow Holder Won't:

    • Tell you what's best - the escrow company stays a neutral, third-party status
    • Offer opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Perform a title research
    • Comply with the bank's standards as specified in the escrow agreement
    • Receive funds from the buyer
    • Prorate tax, interest, insurance and other fees according to instructions
    • Record deeds and other legal documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse payments and finish instructions
    • Give advice - the escrow agent stays at an impartial, third-party status
    • Offer opinions about the outcome of your taxes

    Mortgage Escrow Account

    Often, to pay recurring costs while there's a loan on the house, a Mortgage Escrow Account is created. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

    Once you're at ease with the escrow process, you can be a informed buyer.