Clearing the final hurdles like taking in funds, signing forms, obtaining the documents for loans and liens, and assuring you get a clear title to the home prior to your purchase gets finalized are all part of the job of the escrow company.
These are the documents that escrow agents usually look for:
Closing on the home happens when all of the procedures of the escrow are finished. All expenses like title insurance, inspections and real estate commissions are paid. You'll then secure the title to the house and the title insurance gets issued as outlined in the escrow instructions.
When closing is completed, you'll submit a payment to the escrow agent. As your REALTOR, I'll inform you of the acceptable way of paying.
Often, to pay recurring costs while there's a loan on the house, a Mortgage Escrow Account is created. Escrow Accounts are contributed to monthly by the home buyer (who is now the homeowner), but there is also a lump sum that goes into the account at closing.
Now you know more about how to close on your future home. And, you can be a better informed home buyer and future homeowner.
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