Settling the last details like obtaining funds, finishing forms, obtaining the documents for loans and liens, and assuring you get a spotless title to the property prior to your purchase gets finalized are all part of the job of the escrow agent.
These are the legal forms that escrow agents usually compile:
Upon completion of all instructions of the escrow, closing can take place. All expenses like title insurance, inspections and real estate commissions are paid. You'll then receive the title to the property and the title insurance gets issued as outlined in the escrow instructions.
The escrow company gets a payment at the completion of closing. I'll keep you informed on the procedure.
A Mortgage Escrow Account is established to pay on-going fees 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.
Now you know more about how to close on your future home. And, you can be a more informed home buyer and future homeowner.
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