9102613559 9102613559 Fayetteville, North Carolina, Fayetteville, 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 Fayetteville, buying a house in Fayetteville, buying a house in North Carolina, real estate agent in Fayetteville, real estate agent in Fayetteville, real estate agent in North Carolina, finding a real estate agent in Fayetteville, finding a real estate agent in Fayetteville, finding a real estate agent in North Carolina, buying houses, buying homes, selling homes, selling houses, Alotta Properties, Inc, 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
  • Loan documents
  • 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 house or your next home, I'll walk you through the process. E-mail me at giljacobs@alottaproperties.com to get some free information.

    What To Expect When You're Closing in Fayetteville

     Alotta Properties, Inc can walk you through closing - 9102613559
    Escrow: An escrow agent is brought on to assure your place closes on time and the closing process goes smoothly. A house is said to be in escrow when in the closing transaction, payment is held by a third party on behalf of a buyer and a seller when the transaction is taking place. A simple way to think of what an escrow company does is to think of how you might use PayPal for online purchases.

    The escrow agent makes sure that all terms and conditions of the seller's and buyer's agreement are reached prior to the sale being finalized. This includes securing payments and records, filling out required forms, and obtaining the release documents for any loans or liens that are to be paid with the transaction, assuring you have a clean title to your place before the purchase price is fully paid.

    Escrow agents look for the following forms:

    Upon finishing of all instructions of the escrow, closing can take place. At this time, all payments and dues for inspections, title insurance and real estate commissions are taken. The property's title gets handed over to you and title insurance begins per the steps of your individual escrow process.

    At the close of escrow, payment of funds shall be made in an acceptable form to the escrow. I'll keep you up-to-date on the procedure.

    The Escrow Holder Will:

    • Assemble escrow instructions
    • Perform a title inquiry
    • Comply with lender's standards as noted in the escrow agreement
    • Intake payments from the buyer
    • Prorate insurance, tax, interest and other payments according to guidelines
    • Record deeds and other legal documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer are met
    • Disburse monies and finish instructions

    The Escrow Holder Won't:

    • Advise you - the escrow agent stays a neutral, third-party status
    • Give insight about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Petition title search
    • Comply with lender's requirements as outlined in the escrow agreement
    • Intake payments from the buyer
    • Prorate insurance, tax, interest and other payments according to instructions
    • Record deeds and other legal documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer have been met
    • Disburse funds and finalize instructions
    • Offer advice - the escrow holder must stay at a fair, third-party status
    • Dispense opinions about the outcome of your taxes

    Mortgage Escrow Account

    A Mortgage Escrow Account is established to make payments for rolling expenses while there is a loan on the 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 simple outline of the escrow process. Your individual plan could be unique depending on your bank and your escrow company.

    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