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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 inexperience with the real estate industry prevent you from becoming a homeowner. I can help you understand the process. E-mail me at dfwskylinerealty@gmail.com .

    What is Escrow?

     DFW Skyline Realty can walk you through closing - (682) 667-5556
    Escrow: When you're closing on your new place, an escrow company is used to make sure the transaction will close without problems and in a certain amount of time. A home is said to be in escrow when in the closing transaction, money is secured by a third party on behalf of two parties when the transaction is taking place. PayPal is a simple way to think of an escrow company.

    Clearing the final hurdles like obtaining funds, completing forms, securing the documents for loans and liens, and making sure you get a spotless title to the house prior to your purchase gets finalized are all part of the job of the escrow holder.

    Escrow agents compile the following forms:

    You're ready to close when all parts are complete in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. You'll then receive the title to the property and the title insurance gets issued as stated in the escrow instructions.

    The escrow agent receives a payment at the completion of closing. I'll keep you up-to-date on what comes next.

    The Escrow Holder Will:

    • Write escrow guidelines
    • Perform a title search
    • Comply with lender's guidelines as written in the escrow agreement
    • Intake payments from the buyer
    • Prorate interest, insurance, tax and other payments according to instructions
    • Record deeds and other documents as instructed
    • Obtain title insurance policy
    • Close escrow when all terms of agreement of seller and buyer have been finished
    • Disburse funds and finish instructions

    The Escrow Holder Will Not:

    • Tell you what's best - the escrow company stays at an impartial, third-party status
    • Dispense opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow instructions
    • Request title research
    • Comply with lender's guidelines as noted in the escrow agreement
    • Receive payments 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 are complete
    • Disburse payments and finalize instructions
    • Give advice - the escrow agent must stay at a fair, third-party status
    • Offer opinions about tax implications

    Mortgage Escrow Account

    A Mortgage Escrow Account is established to pay on-going fees while there is a loan on the house. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

    Once you have the rules of the escrow process down, you can be a informed buyer.

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