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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 home or your next home, I'll help you through the process. E-mail me at rrobbins@remax.net to get some free information.

    Closing the Sale in Branson, Missouri

     Rob Robbins can walk you through closing - (417) 334-1374
    First, a little about "escrow". To close the sale of a house, a neutral, third party (the escrow company) is employed to assure the process will close properly and on time. When funds are held by a third party in a transaction between a buyer and a seller, it's in escrow. For example, in an Internet transaction, PayPal is the reliable third party that obtains the buyer's payment, and then hands over the money to the seller.

    The escrow holder makes sure that the terms and conditions of the agreement between the two parties are met in preparation of the sale being finished.

    Escrow holders compile the following legal documents:

    You're ready to close when each step of the complete in escrow process. All outstanding payments and fees are collected and paid at this time (covering expenses such as title insurance, inspections, real estate commissions). Title to the home is then given to you as new homeowner and related title insurance is issued as noted in the escrow policy.

    When closing is completed, you'll make a payment to the escrow agent. You'll know when it's time to submit the form of payment.

    The Escrow Holder Will:

    • Write escrow guidelines
    • Request title inquiry
    • Meet lender's guidelines as specified in the escrow agreement
    • Accept 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 terms of agreement of seller and buyer have been met
    • Disburse monies and finish instructions

    The Escrow Holder Will Not:

    • Tell you what's best - the escrow agent must stay at a fair, third-party status
    • Offer opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Prepare escrow instructions
    • Request title research
    • Meet the bank's standards as written in the escrow agreement
    • Receive 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 terms of agreement of seller and buyer are complete
    • Disburse funds and finish instructions
    • Offer advice - the escrow agent has to remain an impartial, third-party status
    • Give insight about future tax estimations

    Mortgage Escrow Account

    Often, to pay recurring costs while there's a loan on the house, a Mortgage Escrow Account is created. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

    This is a simple outline of the escrow process. Your specific plan could be different based on your lender and your escrow holder.

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