Whether it's your first place or your next home, I'll educate you through the process. Contact me and I'll make sure you're a smart buyer.

Closing the Sale in San Diego, California

 American Dream Corporation dba ADC Realty can walk you through closing - 8582927170
Escrow: To finalize the sale of a property, a neutral, third party (the escrow company) is employed to assure the transaction will close perfectly and on time. Escrow companies hold money for "safe-keeping" in transactions between a buyer and seller. PayPal is a good example of an escrow company.

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

These are the legal documents that escrow companies usually look to collect:

  • 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
  • Loan documents

You're ready to close when all steps are done in escrow process. At this time, all payments and fees for inspections, title insurance and real estate commissions are taken. The home's title goes to you and title insurance is issued per the policies of your individual escrow agreement.

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

The Escrow Holder Will:

  • Prepare escrow guidelines
  • Perform a title research
  • Comply with lender's requirements as specified in the escrow agreement
  • Intake funds from the buyer
  • Prorate insurance, tax, interest and other payments according to guidelines
  • Record deeds and other legal documents as instructed
  • Request title insurance policy
  • Close escrow when all terms of agreement of seller and buyer are complete
  • Disburse monies and finalize instructions

The Escrow Holder Will Not:

  • Give advice - the escrow company must stay at a fair, third-party status
  • Offer opinions about tax implications
The Escrow Holder Will:
The Escrow Holder Won't:
  • Prepare escrow guidelines
  • Petition title inquiry
  • Comply with the bank's guidelines as written in the escrow agreement
  • Receive funds from the buyer
  • Prorate interest, insurance, tax and other payments according to instructions
  • 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 finish instructions
  • Advise you - the escrow company must stay at a fair, third-party status
  • Dispense opinions about future tax estimations

Mortgage Escrow Account

A Mortgage Escrow Account is used to make payments for on-going fees while there is a loan on the house. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

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

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American Dream Corporation dba ADC Realty

CABRE Lic. #01411740

4660 La Jolla Village Drive Ste. 100
San Diego, CA 92122-1251