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  • 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 scare you from becoming a homeowner. I can help you work your way through the process. Contact me.

    What is Escrow?

     Craig Jelinek - Sereno Group can walk you through closing - 408-335-1425
    First, a little about "escrow". An escrow company is hired to assure your property closes on time and the process goes smoothly. When money is held by a third party in a transaction between a buyer and a seller, it's in escrow. PayPal is a good example of an escrow company.

    The escrow agent makes sure that the terms and conditions of the agreement between the seller and buyer are completed prior to the sale being finished.

    These are the records that escrow agents usually look to collect:

    Upon completion of all instructions of the escrow, closing can take place. At this time, all payments and fees for inspections, title insurance and real estate commissions are paid out. You'll then secure the title to the property and the title insurance gets dispersed as noted in the escrow instructions.

    At the close of escrow, fees are paid in an acceptable form to the escrow. You'll know when it's time to submit the form of payment.

    The Escrow Holder Will:

    • Prepare escrow guidelines
    • Petition title research
    • Meet lender's requirements as noted in the escrow agreement
    • Accept 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 terms of agreement of seller and buyer are complete
    • Disburse funds and finalize instructions

    The Escrow Holder Won't:

    • Give advice - the escrow company stays a neutral, third-party status
    • Give insight about future tax estimations
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Request title inquiry
    • Comply with lender's guidelines as noted in the escrow agreement
    • Receive funds from the buyer
    • Prorate tax, interest, insurance and other fees according to instructions
    • Record deeds and other paperwork as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse funds and finalize instructions
    • Give advice - the escrow agent stays at an impartial, third-party status
    • Give insight about future tax estimations

    Mortgage Escrow Account

    Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your house. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

    Once you have the rules of the escrow process down, you can be a more assured buyer.

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