910.367.6396 910.367.6396 Sunset Beach, North Carolina, Sunset Beach, 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 Sunset Beach, buying a house in Sunset Beach, buying a house in North Carolina, real estate agent in Sunset Beach, real estate agent in Sunset Beach, real estate agent in North Carolina, finding a real estate agent in Sunset Beach, finding a real estate agent in Sunset Beach, finding a real estate agent in North Carolina, buying houses, buying homes, selling homes, selling houses, Fred Thorne Realty 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
  • Don't let the unknown prevent you from becoming a homeowner. I can help you become knowledgeable about the process. E-mail me at fred@fredthornerealty.com .

    What is Escrow?

     Fred Thorne Realty LLC can walk you through closing - 910.367.6396
    First, a little about "escrow". When you're closing on your new place, an escrow holder is used to make certain the transaction will close without problems and on time. 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 company makes sure that the terms and conditions of the agreement between the seller and buyer are met in preparation of the sale being finalized.

    The certificates the escrow agent may obtain include:

    Closing on the house takes place when all of the procedures of the escrow are done. All expenses like title insurance, inspections and real estate commissions are paid. Title to the home is then transferred to you as new homeowner and correct title insurance is issued as outlined in the escrow instructions.

    The escrow agent receives a payment when the closing is complete. I'll keep you updated on what comes next.

    The Escrow Holder Will:

    • Assemble escrow guidelines
    • Petition title search
    • Meet the bank's requirements as specified in the escrow agreement
    • Intake payments 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 are met
    • Disburse payments and finalize instructions

    The Escrow Holder Won't:

    • Offer 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
    • Petition title research
    • Comply with the bank's requirements as outlined in the escrow agreement
    • Intake payments from the buyer
    • Prorate insurance, tax, interest and other payments according to guidelines
    • Record deeds and other 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
    • Advise you - the escrow company has to remain an impartial, third-party status
    • Dispense opinions about future tax estimations

    Mortgage Escrow Account

    Often, to pay recurring costs while there's a loan on the house, a Mortgage Escrow Account is created. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

    Once you're familiar with the escrow process, you can be a confident buyer.

    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