(360) 426-5555 (360) 426-5555 Shelton, Washington, Shelton, 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 Shelton, buying a house in Shelton, buying a house in Washington, real estate agent in Shelton, real estate agent in Shelton, real estate agent in Washington, finding a real estate agent in Shelton, finding a real estate agent in Shelton, finding a real estate agent in Washington, buying houses, buying homes, selling homes, selling houses, Shelton Land & Homes, LLC, 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 house, I'll advise you through the process. Call me at (360) 426-5555 and I'll give you more information.

    Closing the Sale in Shelton, Washington

     Shelton Land & Homes, LLC can walk you through closing - (360) 426-5555
    Let's talk about "escrow". When you're closing on your new property, an escrow company is used to make certain the process will close without problems and in a timely manner. A house is said to be in escrow when in the closing transaction, funds is held by a third party on behalf of two parties when the exchange of money takes place. PayPal is a good example of an escrow company.

    The escrow agent makes sure that the terms and conditions of the agreement between the two parties are performed prior to the sale being finalized.

    The documents the escrow agent may secure include:

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

    The escrow holder receives a payment at the completion of closing. You'll know when it's time to submit the form of payment.

    The Escrow Holder Will:

    • Write escrow guidelines
    • Request title research
    • Meet the bank's requirements as outlined in the escrow agreement
    • Receive payments from the buyer
    • Prorate insurance, tax, interest and other payments 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 monies and finish instructions

    The Escrow Holder Will Not:

    • Give advice - the escrow company must stay at a fair, third-party status
    • Give insight about the outcome of your taxes
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Request title research
    • Meet the bank's guidelines as noted in the escrow agreement
    • Receive funds from the buyer
    • Prorate tax, interest, insurance and other fees according to guidelines
    • Record deeds and other paperwork as instructed
    • Obtain title insurance policy
    • Close escrow when all terms of agreement of seller and buyer are complete
    • Disburse funds and finalize instructions
    • Offer advice - the escrow company has to remain an impartial, third-party status
    • Offer opinions about future tax estimations

    Mortgage Escrow Account

    Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your house. Though most home buyers make payments via their monthly mortgage payment, Escrow Accounts are deposited into at closing as well.

    Now you know more about being in escrow. And, you can be a better 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