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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 property or your next property, I'll help you through the process. Call me at 832-723-3301 and I'll give help you live in the property you want.

    Steps to Closing on a Home

     Hollingsworth Real Estate Group @ JS Hollingsworth Center - Lee Hollingsworth can walk you through closing - 832-723-3301
    First, a little about "escrow". To finalize the sale of a place, a neutral, third party (the escrow agent) is brought into the picture to assure the process will close perfectly and on time. Escrow holders hold money for "safe-keeping" in transactions between a buyer and seller. A simple way to understand what an escrow company does is to compare it to PayPal for Internet purchases.

    The escrow company insures that all terms and conditions of the seller's and buyer's contract are met prior to the sale being finished. This includes securing payments and records, completing required forms, and seeking out the release documents for any loans or liens that were paid with the transaction, assuring you have a clear title to your house before the asking price is fully paid.

    These are the legal documents that escrow agents usually compile:

      Closing on the home happens when the steps of the escrow are finished. At this time, all payments and fees for inspections, title insurance and real estate commissions are collected. You'll then receive the title to the house and the title insurance gets issued as noted in the escrow instructions.

      At the close of escrow, in an acceptable form to the escrow. I'll keep you up-to-date on what comes next.

      The Escrow Holder Will:

      • Prepare escrow instructions
      • Perform a title search
      • Meet the bank's guidelines as noted in the escrow agreement
      • Intake 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 instructions of seller and buyer are met
      • Disburse monies and finish instructions

      The Escrow Holder Won't:

      • Tell you what's best - the escrow holder has to remain an impartial, third-party status
      • Dispense opinions about tax implications
      The Escrow Holder Will:
      The Escrow Holder Won't:
      • Write escrow instructions
      • Perform a title research
      • Comply with lender's standards as specified in the escrow agreement
      • Receive payments from the buyer
      • Prorate tax, interest, insurance and other fees according to guidelines
      • Record deeds and other legal documents as instructed
      • Request title insurance policy
      • Close escrow when all instructions of seller and buyer are met
      • Disburse funds and finalize instructions
      • Offer advice - the escrow holder stays at an impartial, third-party status
      • Give insight about the outcome of your taxes

      Mortgage Escrow Account

      Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your house. Though most home buyers make payments via their monthly mortgage payment, Escrow Accounts are deposited into at closing as well.

      This is a simple outline of the escrow process. Your particular plan could be unique depending on your bank and your escrow agent.

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