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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 place or your next place, I'll educate you through the process. E-mail me at info@bigbearrevt.com to get some free information.

    Completing the Transaction

     Big Bear Real Estate can walk you through closing - 802-744-6844
    Escrow: To close the sale of a house, a neutral, third party (the escrow agent) is engaged to assure the process will close appropriately and on time. Escrow agents hold money for "safe-keeping" in a deal between a buyer and seller. For example, in an Internet purchase, PayPal is the secure third party that holds the buyer's money, and then hands over the money to the seller.

    Settling the last details like receiving funds, finishing forms, obtaining the documents for loans and liens, and making sure you get a spotless title to the home before your purchase gets finalized are all part of the job of the escrow holder.

    The records the escrow agent may secure include:

    You're ready to close when every step is done in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. You'll then obtain the title to the property and the title insurance gets dispersed as noted in the escrow instructions.

    When closing is finished, you'll submit a payment to the escrow holder. I'll keep you updated on the next steps.

    The Escrow Holder Will:

    • Prepare escrow instructions
    • Petition title research
    • Meet lender's requirements as outlined in the escrow agreement
    • Receive funds from the buyer
    • Prorate tax, interest, insurance and other fees according to instructions
    • Record deeds and other legal documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse monies and finalize instructions

    The Escrow Holder Won't:

    • Advise you - the escrow company must maintain a neutral, third-party status
    • Give insight about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow instructions
    • Petition title search
    • Meet the bank's standards as specified in the escrow agreement
    • Accept payments from the buyer
    • Prorate tax, interest, insurance and other fees according to guidelines
    • Record deeds and other paperwork as instructed
    • Obtain title insurance policy
    • Close escrow when all terms of agreement of seller and buyer have been met
    • Disburse monies and finalize instructions
    • Tell you what's best - the escrow company stays at an impartial, third-party status
    • Offer opinions about tax implications

    Mortgage Escrow Account

    Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your house. Escrow Accounts are contributed to monthly by the home buyer (who is now the homeowner), but there is also a lump sum that goes into the account at closing.

    Now you know more about how to close on your future home. And, you can be a better informed home buyer and future homeowner.

    Looking to Buy?

    Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

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