Clearing the final hurdles like taking in funds, finishing forms, securing 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 agent.
These are the documents that escrow agents usually look to collect:
You're ready to close when all steps are complete in escrow process. At this time, all payments and fees for inspections, title insurance and real estate commissions are paid out. The property's title gets handed over to you and title insurance is issued per the steps of your particular escrow process.
The escrow company receives a payment when the closing is complete. I'll keep you up-to-date on the procedure.
A Mortgage Escrow Account is started to pay recurring expenses 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.
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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