The escrow company makes sure that the terms and conditions of the agreement between the sellers and the buyers are met prior to the sale being finalized.
These are the legal forms that escrow agents usually look for:
You're ready to close when every step is complete in escrow process. At this time, all payments and fees for inspections, title insurance and real estate commissions are collected. The home's title goes to you and title insurance is issued per the policies of your individual escrow process.
At the close of escrow, in an acceptable form to the escrow. I'll keep you updated on the next steps.
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.
Once you have the basics of the escrow process down, you can be a better buyer.
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.