The escrow agent makes sure that the terms and conditions of the agreement between the seller and buyer are performed prior to the sale being completed.
The pieces of paperwork the escrow agent may secure include:
Upon finishing of all portions of the escrow, closing can take place. At this time, all payments and fees for inspections, title insurance and real estate commissions are paid out. You'll then obtain the title to the house and the title insurance gets dispersed as stated in the escrow instructions.
At the close of escrow, in an acceptable form to the escrow. As your real estate agent, I'll let you know what is an acceptable way of paying.
A Mortgage Escrow Account is started to make payments for 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.
Once you're at ease with the escrow process, you can be a more assured buyer.
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