Closing the Sale in Flagler Beach, Palm Coast, Beachside, Florida

Escrow
To close the sale of a place, a neutral, third party (the escrow holder) is engaged to assure the transaction will close perfectly and on time. When money is held by a third party in a transaction between a buyer and a seller, it's in escrow. An easy way to understand what an escrow company does is to compare it to PayPal for Internet purchases.

Settling the last details like taking in funds, finishing forms, obtaining the documents for loans and liens, and making sure you a clean title to the home in preparation of your purchase gets finalized are all part of the job of the escrow company.

	Choosing to buy a property for the first time gets to feeling overwhelming. We can help. Call us at 386-931-8531.

These are the legal documents that escrow companies usually compile: 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 Fire and other insurance policies

You're ready to close when each step of the done in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. The property's title gets transferred to you and title insurance begins per the policies of your individual escrow process.

When closing is finished, you'll pay the fees to the escrow holder. As your agent, I'll let you know what is an acceptable form of payment.

The Escrow Holder Will:		The Escrow Holder Won't:
Write escrow guidelines Petition title inquiry Meet lender's guidelines as specified in the escrow agreement Intake payments from the buyer Prorate insurance, tax, interest and other payments 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 are complete Disburse monies and finalize instructions		Tell you what's best - the escrow agent has to remain an impartial, third-party status Offer opinions about the outcome of your taxes

Mortgage Escrow Account

A Mortgage Escrow Account is used to make payments for rolling fees while there is a loan on the 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.

Once you're familiar with the escrow process, you can be a confident buyer.