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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 place, I'll help you through the process. Contact me.

    What To Expect When You're Closing in Naples

     Metro Properties can walk you through closing - 800-252-6633
    Let's talk about "escrow". To complete the sale of a place, a neutral, third party (the escrow holder) is engaged to assure the transaction will close perfectly and on time. A property is said to be in escrow when in the closing process, funds is held by a third party on behalf of a buyer and a seller when the exchange of money takes place. For example, in an Internet auction, PayPal is the secure third party that obtains the buyer's cash, and then sends the money to the seller.

    Tying up any loose ends like obtaining funds, signing forms, obtaining the documents for loans and liens, and assuring you get a spotless title to the house before your purchase gets finalized are all part of the job of the escrow company.

    Escrow holders look for the following legal documents:

    Upon finishing of all portions of the escrow, closing can take place. At this time, all payments and dues for inspections, title insurance and real estate commissions are paid out. You'll then receive the title to the property and the title insurance gets issued as noted in the escrow instructions.

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

    The Escrow Holder Will:

    • Prepare escrow guidelines
    • Request title search
    • Meet the bank's requirements as noted in the escrow agreement
    • Accept payments from the buyer
    • Prorate tax, interest, insurance and other fees 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 met
    • Disburse funds and finalize instructions

    The Escrow Holder Will Not:

    • Advise you - the escrow holder must stay at a fair, third-party status
    • Dispense opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow guidelines
    • Perform a title search
    • Meet lender's standards as noted in the escrow agreement
    • Intake funds from the buyer
    • Prorate interest, insurance, tax and other payments according to guidelines
    • Record deeds and other legal documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer are met
    • Disburse funds and finalize instructions
    • Advise you - the escrow company must maintain a neutral, third-party status
    • Offer opinions about future tax estimations

    Mortgage Escrow Account

    A Mortgage Escrow Account is started to make payments for on-going fees while there is a loan on the 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 how to close on your future home. And, you can be a smarter home buyer and future homeowner.

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