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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
  • Whether it's your first property or your next home, I'll advise you through the process. Call me at 210.826.4088.

    Escrow 101

     Barrientos Properties can walk you through closing - 210.826.4088
    Escrow: A neutral, third party (known as the escrow holder or the escrow agent) is used to assure your home closes on time and the process goes smoothly. Escrow agents hold money for "safe-keeping" in a deal between a buyer and seller. PayPal is a good example of an escrow company.

    Clearing the final hurdles like receiving funds, finishing forms, securing the documents for loans and liens, and making sure you get a clean title to the home in preparation of your purchase gets finalized are all part of the job of the escrow company.

    Escrow holders compile the following pieces of paperwork:

    You're ready to close when all parts are done in escrow process. All payments owed and fees are collected and paid off at this time (covering expenses such as title insurance, inspections, real estate commissions). The home's title gets transferred to you and title insurance begins per the steps of your particular escrow process.

    The escrow holder gets a payment when the closing is complete. As your agent, I'll inform you of the acceptable form of payment.

    The Escrow Holder Will:

    • Assemble escrow instructions
    • Request title inquiry
    • Meet lender's standards as outlined in the escrow agreement
    • Accept payments 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 instructions of seller and buyer have been met
    • Disburse funds and finish instructions

    The Escrow Holder Will Not:

    • Advise you - the escrow agent must maintain a neutral, third-party status
    • Dispense opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Perform a title search
    • Comply with the bank's guidelines as outlined 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 funds and finish instructions
    • Tell you what's best - the escrow company has to remain an impartial, third-party status
    • Give insight about the outcome of your taxes

    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.

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

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