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my client's needs, and I
work to realize their
dreams as if they were
my own.
Carolina Chacon
Associate Broker
work to realize their
dreams as if they were
my own.
Carolina Chacon
Associate Broker
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Copyright © 2009 My Real Estate Pro. All information provided is deemed reliable but not guaranteed and should be independently
verified. Properties subject to prior sale or rental without notice.
Links to third party web sites may be provided on MyRealEstatePro.net. If so, they are provided solely as a convenience to you. If you
click on these links, you will leave this Site. My Real Estate Pro has not reviewed any third party sites and does not control nor are we
responsible for any of these sites or their content. My Real Estate Pro does not endorse or make any representations about such
sites, or any information or materials found there, or any results that may be obtained from using them. My Real Estate Pro does not
endorse, nor make any representations regarding, and is not responsible for, any products, actions or policies (including, but not
limited to, any privacy policies or customer relations policies) of any third parties. If you access any third party sites linked to this Site,
you do so at your own risk. All rights reserved and all material published on this page are protected by copyright © 2009 My Real
Estate Pro.
verified. Properties subject to prior sale or rental without notice.
Links to third party web sites may be provided on MyRealEstatePro.net. If so, they are provided solely as a convenience to you. If you
click on these links, you will leave this Site. My Real Estate Pro has not reviewed any third party sites and does not control nor are we
responsible for any of these sites or their content. My Real Estate Pro does not endorse or make any representations about such
sites, or any information or materials found there, or any results that may be obtained from using them. My Real Estate Pro does not
endorse, nor make any representations regarding, and is not responsible for, any products, actions or policies (including, but not
limited to, any privacy policies or customer relations policies) of any third parties. If you access any third party sites linked to this Site,
you do so at your own risk. All rights reserved and all material published on this page are protected by copyright © 2009 My Real
Estate Pro.
What is Escrow? Escrow is a service which provides the public with a means of protection in the
Why is Escrow Needed? Whether you are the buyer or the seller, you want assurance that no funds
or property will change hands until all instructions have been followed. With the increasing complexity of
business, law and tax structures, it takes a trained professional to supervise the transaction.
Who Chooses the Escrow Company?
The selection of the escrow holder is normally done by agreement between the principals. If a real estate
agent is involved, they may recommend an escrow holder. However, it is the right of th principals (seller
and buyer) to use an escrow older who is competent and experienced in handling the type of escrow at
hand. You can ask a real estate agent or lender to recommend two or three different escrow companies to
choose from. You may also find escrow companies listed in the yellow pages of the phone book under
either Real Estate Escrow, Escrow or Real Estate Title Insurance.
Escrow Functions Typically Include the Following Valuable Transaction Services:
Escrow does not offer legal, investment advice, nor negotiate the transaction.
Why is Escrow Needed? Whether you are the buyer or the seller, you want assurance that no funds
or property will change hands until all instructions have been followed. With the increasing complexity of
business, law and tax structures, it takes a trained professional to supervise the transaction.
Who Chooses the Escrow Company?
The selection of the escrow holder is normally done by agreement between the principals. If a real estate
agent is involved, they may recommend an escrow holder. However, it is the right of th principals (seller
and buyer) to use an escrow older who is competent and experienced in handling the type of escrow at
hand. You can ask a real estate agent or lender to recommend two or three different escrow companies to
choose from. You may also find escrow companies listed in the yellow pages of the phone book under
either Real Estate Escrow, Escrow or Real Estate Title Insurance.
Escrow Functions Typically Include the Following Valuable Transaction Services:
- Prepare escrow instructions.
- Serve as the communication link to all transaction parties.
- Request preliminary title report/commitment.
- Request a beneficiary's statement or pay-off demand relating to existing financing.
- Comply with lender's requirements as specified in escrow agreement.
- Receive purchase funds from the buyer.
- Prepare or secure the transfer deed or other documents related to escrow.
- Prorate taxes, interest, insurance and rents according to instructions.
- Secure releases of all escrow contingencies or other conditions are required.
- Record deeds and any other documents as instructed.
- Request issuance of the title insurance policy as instructed in Purchase Contract.
- Disburse funds as authorized, including charges for title insurance, recording fees,
commissions and loan payoffs. - Prepare final accounting statements for the parties.
- Escrow is considered "closed" when all documents are recorded and instructions have been
carried out.
Escrow does not offer legal, investment advice, nor negotiate the transaction.
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