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:
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.
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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