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Closing the Sale in Dublin, California

 Provident Realty Group can walk you through closing - 9259999531
First, a little about "escrow". An escrow holder is hired to assure your home closes on time and the money exchanging part of closing goes smoothly. Escrow agents hold money for "safe-keeping" in an exchange between a buyer and seller. An easy way to understand the concept of what an escrow company does is to think of the use of PayPal for Internet purchases.

The escrow holder makes sure that all terms and conditions of the seller's and buyer's contract are reached prior to the sale being completed. This includes getting monies and documents, completing required forms, and seeking out the release documents for any loans or liens that are to be cleared with the transaction, assuring you have a clean title to your property before the agreed upon price is fully paid.

These are the legal forms that escrow agents usually look to collect:

  • 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
  • Loan documents
  • Tax statements

Upon completion of all instructions of the escrow, closing can take place. All debts and fees are collected and paid off at this time (covering expenses such as title insurance, inspections, real estate commissions). You'll then obtain the title to the home and the title insurance gets dispersed as stated in the escrow instructions.

The escrow company gets a payment at the completion of closing. As your real estate agent, I'll inform you of the acceptable way of paying.

The Escrow Holder Will:

  • Write escrow instructions
  • Petition title research
  • Comply with the bank's guidelines as specified in the escrow agreement
  • Accept funds from the buyer
  • Prorate interest, insurance, tax and other payments according to guidelines
  • Record deeds and other legal documents as instructed
  • Request title insurance policy
  • Close escrow when all terms of agreement of seller and buyer have been finished
  • Disburse funds and finalize instructions

The Escrow Holder Won't:

  • Offer advice - the escrow company must maintain a neutral, third-party status
  • Give insight about the outcome of your taxes
The Escrow Holder Will:
The Escrow Holder Won't:
  • Write escrow instructions
  • Request title research
  • Comply with lender's requirements as outlined 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
  • Request title insurance policy
  • Close escrow when all terms of agreement of seller and buyer are met
  • Disburse payments and finish instructions
  • Offer advice - the escrow agent has to remain an impartial, third-party status
  • Give insight about tax implications

Mortgage Escrow Account

A Mortgage Escrow Account is started to pay on-going 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.

Once you're comfortable with the escrow process, you can be a better buyer.

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Provident Realty Group

6850 Regional Street Suite 210
Dublin, CA 94568