512-789-7541 512-789-7541 Cedar Park, Texas, Cedar Park, 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 Cedar Park, buying a house in Cedar Park, buying a house in Texas, real estate agent in Cedar Park, real estate agent in Cedar Park, real estate agent in Texas, finding a real estate agent in Cedar Park, finding a real estate agent in Cedar Park, finding a real estate agent in Texas, buying houses, buying homes, selling homes, selling houses, Homes With Heart, 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
  • 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 place or your next property, I'll educate you through the process. Contact me.

    First-Time Home Buying: How To Close on a Property

     Homes With Heart, Inc. can walk you through closing - 512-789-7541
    First, a little about "escrow". To finalize the sale of a house, a neutral, third party (the escrow company) is employed to assure the process will close correctly and on time. Escrow companies hold money for "safe-keeping" in transactions between a buyer and seller. PayPal is a simple way to think of an escrow company.

    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 receiving funds and documents, 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 clear title to your place before the purchase price is fully paid.

    These are the legal forms that escrow agents usually look to collect:

    You're ready to close when every step is finished in escrow process. At this time, all payments and fees 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 policies of your individual escrow process.

    When closing is completely finished, you'll pay the fees to the escrow agent. I'll keep you up-to-date on the next steps.

    The Escrow Holder Will:

    • Write escrow instructions
    • Perform a title search
    • Comply with lender's requirements as noted in the escrow agreement
    • Intake 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 terms of agreement of seller and buyer are complete
    • Disburse funds and finish instructions

    The Escrow Holder Will Not:

    • Offer advice - the escrow agent stays at an impartial, third-party status
    • Offer opinions about the outcome of your taxes
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow instructions
    • Perform a title inquiry
    • Meet lender's guidelines as written in the escrow agreement
    • Receive funds from the buyer
    • Prorate interest, insurance, tax 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 payments and finish instructions
    • Offer advice - the escrow agent must stay at a fair, 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. Though most home buyers make payments via their monthly mortgage payment, Escrow Accounts are deposited into at closing as well.

    This is a quick run-down of the escrow process. Your individual plan will vary based on your bank and your escrow holder.