(407) 791-3116 (407) 791-3116 Saint Cloud, Florida, Saint Cloud, how to choose a real estate agent, getting a real estate agent, picking a real estate agent, real estate professional, homeowner, home buyer, home sales, buying a house, buying a house in Saint Cloud, buying a house in Saint Cloud, buying a house in Florida, real estate agent in Saint Cloud, real estate agent in Saint Cloud, real estate agent in Florida, finding a real estate agent in Saint Cloud, finding a real estate agent in Saint Cloud, finding a real estate agent in Florida, buying houses, buying homes, selling homes, selling houses, Preferred Real Estate, things to look for when buying a home, how to buy a house, house hunting, home buying tip, home buying help, find a home to buy, home buying questions, home buying advice, home buying, home buying checklist, escrow, being in escrow, escrow agent, escrow fees, closing on a house, escrow companies
  • 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 home, I'll walk you through the process. Call me at (407) 791-3116 and I'll give all the info you'll need to move forward.

    Closing the Sale in Saint Cloud

     Preferred Real Estate can walk you through closing - (407) 791-3116
    Let's talk about "escrow". To finish the sale of a home, a neutral, third party (the escrow holder) is brought into the picture to assure the transaction will close correctly and on time. A place is said to be in escrow when in the closing process, payment is held by a third party on behalf of a buyer and a seller when the exchange of money takes place. For example, in a Web auction, PayPal is the reliable third party that obtains the buyer's cash, and then sends the funds to the seller.

    Tying up any loose ends like obtaining funds, finishing forms, securing the documents for loans and liens, and making sure you get a spotless title to the house in preparation of your purchase gets finalized are all part of the job of the escrow company.

    Escrow agents want to acquire the following documents:

    You're ready to close when all parts are finished in escrow process. All expenses like title insurance, inspections and real estate commissions are paid. The property's title goes to you and title insurance begins per the steps of your individual escrow process.

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

    The Escrow Holder Will:

    • Assemble escrow guidelines
    • Request title inquiry
    • Meet the bank's guidelines as outlined in the escrow agreement
    • Intake payments from the buyer
    • Prorate interest, insurance, tax and other payments according to instructions
    • Record deeds and other documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer are complete
    • Disburse payments and finalize instructions

    The Escrow Holder Will Not:

    • Tell you what's best - the escrow company stays a neutral, third-party status
    • Offer opinions about future tax estimations
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow instructions
    • Request title search
    • Comply with lender's guidelines as noted in the escrow agreement
    • Receive funds from the buyer
    • Prorate insurance, tax, interest and other payments according to instructions
    • Record deeds and other documents as instructed
    • Request title insurance policy
    • Close escrow when all terms of agreement of seller and buyer are met
    • Disburse payments and finalize instructions
    • Give advice - the escrow agent has to remain an impartial, third-party status
    • Offer opinions about tax implications

    Mortgage Escrow Account

    A Mortgage Escrow Account is established to pay recurring fees 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 being in escrow. And, you can be a more 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.

    Your Information
    Some Details