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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
  • Purchasing a home for the first time can be intimidating. Let me help you. Call me at (404) 419-3500.

    Steps to Closing on a Home

     Keller Williams Realty Peachtree Road can walk you through closing - (404) 419-3500
    Escrow: When you're closing on your new house, an escrow company is used to make sure the process will close without problems and in a timely manner. Escrow companies hold money for "safe-keeping" in transactions between a buyer and seller. PayPal is a good way to picture an escrow company.

    The escrow agent insures that all terms and conditions of the seller's and buyer's contract are performed prior to the sale being completed. This includes receiving monies and records, filling out required forms, and obtaining the release documents for any loans or liens that have been paid off with the transaction, assuring you have a clean title to your house before the negotiated price is fully paid.

    Escrow companies collect the following records:

    Closing on the property takes place when all of the procedures of the escrow are finished. All expenses like title insurance, inspections and real estate commissions are paid. The house's title goes to you and title insurance begins per the steps of your particular escrow process.

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

    The Escrow Holder Will:

    • Assemble escrow instructions
    • Perform a title search
    • Meet lender's requirements as written in the escrow agreement
    • Accept payments from the buyer
    • Prorate insurance, tax, interest 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 have been finished
    • Disburse monies and finalize instructions

    The Escrow Holder Will Not:

    • Tell you what's best - the escrow agent must maintain a neutral, third-party status
    • Dispense opinions about future tax estimations
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Request title research
    • Meet lender's requirements as outlined in the escrow agreement
    • Receive 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 instructions of seller and buyer have been finished
    • Disburse funds and finish instructions
    • Tell you what's best - the escrow agent must maintain a neutral, third-party status
    • Dispense opinions about tax implications

    Mortgage Escrow Account

    Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your house. 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.

    This is a quick run-down of the escrow process. Your specific process will be unique based on your bank and your escrow holder.

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