(682) 667-5556 (682) 667-5556 Fort Worth, Texas, Fort Worth, how to choose a real estate agent, getting a real estate agent, picking a real estate agent, real estate professional, homeowner, home buyer, home sales, buying a house, buying a house in Fort Worth, buying a house in Fort Worth, buying a house in Texas, real estate agent in Fort Worth, real estate agent in Fort Worth, real estate agent in Texas, finding a real estate agent in Fort Worth, finding a real estate agent in Fort Worth, finding a real estate agent in Texas, buying houses, buying homes, selling homes, selling houses, DFW Skyline Realty, things to look for when buying a home, how to buy a house, house hunting, home buying tip, home buying help, find a home to buy, home buying questions, home buying advice, home buying, home buying checklist, escrow, being in escrow, escrow agent, escrow fees, closing on a house, escrow companies
  • 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 inexperience with the real estate industry prevent you from becoming a homeowner. I can help you work your way through the process. E-mail me at dfwskylinerealty@gmail.com to get some free information.

    Closing the Sale in Fort Worth, Texas

     DFW Skyline Realty can walk you through closing - (682) 667-5556
    Let's talk about "escrow". An escrow holder is hired to assure your home closes on time and the money exchanging part of closing goes smoothly. Escrow companies hold money for "safe-keeping" in a deal between a buyer and seller. For example, in an Internet purchase, PayPal is the neutral third party that obtains the buyer's funds, and then disburses the funds to the seller.

    Settling the last details like receiving funds, signing forms, getting the documents for loans and liens, and assuring you get a clear title to the house in preparation of your purchase gets finalized are all parts of closing in which an escrow holder is useful.

    These are the records that escrow agents usually look to collect:

    Upon finishing of all instructions of the escrow, closing can take place. At this time, all payments and fees for inspections, title insurance and real estate commissions are collected. The property's title gets transferred to you and title insurance is issued per the steps of your individual escrow agreement.

    At the close of escrow, payments are submitted in an acceptable form to the escrow. You'll know when it's time to submit the form of payment.

    The Escrow Holder Will:

    • Assemble escrow guidelines
    • Perform a title inquiry
    • Comply with the bank's requirements as noted in the escrow agreement
    • Intake payments from the buyer
    • Prorate interest, insurance, tax and other payments according to guidelines
    • Record deeds and other documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer are met
    • Disburse monies and finalize instructions

    The Escrow Holder Won't:

    • Give advice - the escrow holder must maintain a neutral, third-party status
    • Dispense opinions about future tax estimations
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow instructions
    • Petition title research
    • Comply with the bank's requirements as written in the escrow agreement
    • Accept funds 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 terms of agreement of seller and buyer have been finished
    • Disburse payments and finish instructions
    • Offer advice - the escrow company stays a neutral, third-party status
    • Give insight 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. 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 better informed home buyer and future homeowner.

    Got a Question?

    Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

    Your Information
    Your Question