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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
  • Buying a home for the first time can be overwhelming. Let me help you. E-mail me at agent@alamode.com .

    What To Expect When You're Closing in Naples, Florida

     Metro Properties can walk you through closing - 800-252-6633
    Escrow: An escrow agent is used to assure your place closes on time and the process goes smoothly. When money is held by a third party in a transaction between a buyer and a seller, it's in escrow. PayPal is a good example of an escrow company.

    Clearing the final hurdles like taking in funds, finishing forms, getting the documents for loans and liens, and making sure you get a spotless title to the house prior to your purchase gets finalized are all part of the job of the escrow holder.

    The records the escrow holder may obtain include:

    Upon completion 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 collected. Title to the house is then given to you as now current homeowner and correct title insurance is issued as noted in the escrow instructions.

    When closing is completed, you'll pay the fees to the escrow agent. I'll keep you informed on the next steps.

    The Escrow Holder Will:

    • Assemble escrow instructions
    • Perform a title search
    • Meet the bank's guidelines as noted in the escrow agreement
    • Receive 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 met
    • Disburse payments and finish instructions

    The Escrow Holder Won't:

    • Tell you what's best - the escrow holder must maintain a neutral, third-party status
    • Dispense opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow guidelines
    • Petition title research
    • Comply with lender's guidelines as outlined in the escrow agreement
    • Receive funds from the buyer
    • Prorate tax, interest, insurance and other fees according to guidelines
    • 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 funds and finalize instructions
    • Advise you - the escrow agent must stay at a fair, third-party status
    • Offer opinions about the outcome of your taxes

    Mortgage Escrow Account

    A Mortgage Escrow Account is established to pay on-going expenses 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 at ease with the escrow process, you can be a more assured buyer.

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