Purchase Escrow
Purchase Escrow - The escrow company role is to basically hold the important documents and deposit (related to the purchase sale of a property) by a neutral third party (the escrow officer) prior to the close of the transaction. Escrow Officer - The escrow officer is responsible for preparing and reviewing papers related to the transfer of title, (a legal document that shows ownership of the property): getting them signed, delivered, and made a matter of public record, complying with your lender's closing instructions, ordering a title search, and accounting to you and the seller your respective money. Purchase Agreement - When escrow is opened, your purchase agreement will most likely have contingencies or conditions of sale, for example a property inspection, clear title to property or loan financing. If any of these items are not met, the agreement can be cancelled, these items all have a time frame and must be met per the agreement. After the seller accepts the buyer's offer, the purchase agreement is forwarded to the escrow company right away. Escrow Costs - The cost of escrow varies based on the purchase price, the purchase agreement outlines exactly who will pay for escrow, this is negotiated between buyer and seller. Prior to closing the escrow officer will provide an estimated closing statement, this will identify exactly how much will be required to close on the property. Always bring in a cashier check when you close on your home. Closing Escrow - means that the deal is completed, the escrow officer makes sure that the previous mortgages is paid off, your new loan is funded, and the real estate agents get paid.
If you have any questions please feel free to call us anytime. 
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