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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 real estate industry jargon prevent you from becoming a homeowner. I can help you understand the process. Contact me.

    I'll Champion for You Through Closing

     Ender & Associates Realty can walk you through closing - (940) 325-2006
    Escrow: When you're closing on your new home, an escrow company is used to make sure the process will close properly and on time. Escrow companies hold money for "safe-keeping" in an exchange between a buyer and seller. PayPal is a good example of an escrow company.

    The escrow agent makes sure that the terms and conditions of the agreement between the seller and buyer are performed prior to the sale being completed.

    The pieces of paperwork the escrow agent may obtain include:

    You're ready to close when every step is complete in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. Title to the home is then given to you as new owner and appropriate title insurance is issued as noted in the escrow instructions.

    When closing is completely finished, you'll make a payment to the escrow company. I'll keep you up-to-date on the next steps.

    The Escrow Holder Will:

    • Assemble escrow guidelines
    • Perform a title inquiry
    • Meet the bank's standards as specified in the escrow agreement
    • Accept payments from the buyer
    • Prorate interest, insurance, tax and other payments according to guidelines
    • Record deeds and other legal documents as instructed
    • Request title insurance policy
    • Close escrow when all instructions of seller and buyer are complete
    • Disburse payments and finalize instructions

    The Escrow Holder Won't:

    • Advise you - the escrow company stays a neutral, third-party status
    • Dispense opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow instructions
    • Request title inquiry
    • Meet lender's requirements as noted in the escrow agreement
    • Receive payments from the buyer
    • Prorate insurance, tax, interest and other payments according to instructions
    • Record deeds and other documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer are complete
    • Disburse funds and finalize instructions
    • Offer advice - the escrow holder stays at an impartial, third-party status
    • Offer 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. Though most home buyers make payments via their monthly mortgage payment, Escrow Accounts are deposited into at closing as well.

    This is a simple outline of the escrow process. Your individual methods could be unique based on your bank and your escrow agent.

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