Whether it's your first property or your next home, I'll advise you through the process. E-mail me at gildahomes@gmail.com .

I'll Champion for You Through Closing

 RE/MAX Town Centre can walk you through closing - (407) 996-3200
Escrow: To complete the sale of a place, a neutral, third party (the escrow holder) is brought into the picture to assure the process will close perfectly and on time. Escrow companies hold money for "safe-keeping" in an exchange between a buyer and seller. PayPal is a good way to picture an escrow company.

The escrow company makes sure that all terms and conditions of the seller's and buyer's negotiated agreement are met prior to the sale being finalized. This includes receiving funds and documents, signing required forms, and obtaining the release documents for any loans or liens that were cleared with the transaction, assuring you have a clear title to your home before the asking price is fully paid.

Escrow companies collect the following legal documents:

  • Loan documents
  • 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

You're ready to close when all parts are done in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. The home's title gets handed over to you and title insurance begins per the steps of your individual escrow agreement.

When closing is done, you'll submit a payment to the escrow agent. I'll keep you up-to-date on what comes next.

The Escrow Holder Will:

  • Prepare escrow guidelines
  • Perform a title search
  • Comply with the bank's requirements as written in the escrow agreement
  • Receive 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 met
  • Disburse payments and finalize instructions

The Escrow Holder Won't:

  • Advise you - the escrow agent stays at an impartial, third-party status
  • Give insight about the outcome of your taxes
The Escrow Holder Will:
The Escrow Holder Won't:
  • Assemble escrow instructions
  • Request title inquiry
  • Meet lender's guidelines as noted in the escrow agreement
  • Intake payments from the buyer
  • Prorate tax, interest, insurance and other fees according to instructions
  • Record deeds and other paperwork as instructed
  • Request title insurance policy
  • Close escrow when all terms of agreement of seller and buyer have been finished
  • Disburse funds and finish instructions
  • Tell you what's best - the escrow company must maintain a neutral, third-party status
  • Offer opinions about tax implications

Mortgage Escrow Account

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

Looking to Buy?

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