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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 property, I'll educate you through the process. Call me at 512-834-1600 and I'll give help you live in the home you want.

    Closing the Sale in Austin

     John Horton Realty can walk you through closing - 512-834-1600
    Escrow: When you're closing on your new house, a neutral, third party (known as the escrow holder or the escrow agent) is used to make sure the transaction will close appropriately and in a specific time frame. Escrow companies hold money for "safe-keeping" in an exchange between a buyer and seller. PayPal is a simple way to think of an escrow company.

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

    These are the legal forms that escrow holders usually compile:

    Closing on the house happens when the steps of the escrow are complete. At this time, all payments and dues for inspections, title insurance and real estate commissions are collected. Title to the house is then given to you as buyer and correct title insurance is issued as noted in the escrow instructions.

    When closing is in it's last step, you'll submit a payment to the escrow holder. I'll keep you up-to-date on the next steps.

    The Escrow Holder Will:

    • Assemble escrow guidelines
    • Request title research
    • Comply with lender's standards as written in the escrow agreement
    • Receive payments from the buyer
    • Prorate interest, insurance, tax and other payments according to guidelines
    • Record deeds and other paperwork as instructed
    • Request title insurance policy
    • Close escrow when all instructions of seller and buyer are met
    • Disburse payments and finalize instructions

    The Escrow Holder Will Not:

    • Give advice - the escrow company has to remain an impartial, third-party status
    • Dispense opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow instructions
    • Perform a title research
    • Meet lender's guidelines as outlined in the escrow agreement
    • Receive payments from the buyer
    • Prorate interest, insurance, tax and other payments according to instructions
    • Record deeds and other paperwork as instructed
    • Obtain title insurance policy
    • Close escrow when all terms of agreement of seller and buyer have been met
    • Disburse payments and finalize instructions
    • Offer advice - the escrow holder has to remain an impartial, third-party status
    • Give insight about the outcome of your taxes

    Mortgage Escrow Account

    Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your house. Usually, the home buyer makes a payment at closing and also makes regular deposits through their monthly mortgage payment to fund the Escrow Account.

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

    Looking to Buy?

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