Whether it's your first place or your next house, I'll advise you through the process. Contact me and I'll help you become a well-informed buyer.

I'll Champion for You Through Closing

 Target Cost Realty, LLC can walk you through closing - (972) 504-8021
Escrow: When you're closing on your new place, an escrow company is used to insure the transaction will close without problems and in a certain amount of time. Escrow agents hold money for "safe-keeping" in transactions between a buyer and seller. PayPal is a good way to picture an escrow company.

Settling the last details like obtaining funds, finishing forms, securing the documents for loans and liens, and assuring you get a clear title to the home in preparation of your purchase gets finalized are all parts of closing in which an escrow agent is useful.

The certificates the escrow company may secure include:

  • 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
  • Loan documents
  • Tax statements

Upon finishing of all portions of the escrow, closing can take place. At this time, all payments and dues for inspections, title insurance and real estate commissions are taken. The house's title gets handed over to you and title insurance begins per the policies of your particular escrow agreement.

When closing is finished, you'll make a payment to the escrow company. As your REALTOR, I'll let you know what is an acceptable form of payment.

The Escrow Holder Will:

  • Assemble escrow guidelines
  • Request title research
  • Meet the bank's guidelines as noted in the escrow agreement
  • Intake payments from the buyer
  • Prorate interest, insurance, tax and other payments according to instructions
  • Record deeds and other legal documents as instructed
  • Obtain title insurance policy
  • Close escrow when all terms of agreement of seller and buyer are met
  • Disburse funds and finish instructions

The Escrow Holder Will Not:

  • Advise you - the escrow agent stays a neutral, third-party status
  • Give insight about future tax estimations
The Escrow Holder Will:
The Escrow Holder Won't:
  • Write escrow instructions
  • Request title search
  • Comply with lender's requirements as specified in the escrow agreement
  • Accept funds from the buyer
  • Prorate tax, interest, insurance and other fees according to guidelines
  • Record deeds and other documents as instructed
  • Obtain title insurance policy
  • Close escrow when all terms of agreement of seller and buyer are complete
  • Disburse payments and finish instructions
  • Advise you - the escrow company must maintain a neutral, third-party status
  • Dispense opinions about future tax estimations

Mortgage Escrow Account

Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your 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.

Now you know more about being in escrow. And, you can be a more informed home buyer and future homeowner.

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