408-335-1425 408-335-1425 Los Gatos, California, Los Gatos, 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 Los Gatos, buying a house in Los Gatos, buying a house in California, real estate agent in Los Gatos, real estate agent in Los Gatos, real estate agent in California, finding a real estate agent in Los Gatos, finding a real estate agent in Los Gatos, finding a real estate agent in California, buying houses, buying homes, selling homes, selling houses, Craig Jelinek - Sereno Group, 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 real estate industry jargon scare you from becoming a homeowner. I can help you understand the process. Call me at 408-335-1425 and I'll give all the info you'll need to move forward.

    Completing the Transaction

     Craig Jelinek - Sereno Group can walk you through closing - 408-335-1425
    Escrow: When you're closing on your new home, an escrow agent is used to make certain the transaction will close appropriately and on time. A property is said to be in escrow when in the closing process, money is secured by a third party on behalf of a buyer and a seller when the transaction is taking place. PayPal is a good way to picture an escrow company.

    Tying up any loose ends like obtaining funds, signing forms, getting the documents for loans and liens, and making sure you get a clear title to the home before your purchase gets finalized are all part of the job of the escrow agent.

    The records the escrow company may secure include:

    Closing on the home happens when all of the procedures of the escrow are finished. At this time, all payments and fees for inspections, title insurance and real estate commissions are collected. You'll then obtain the title to the house and the title insurance gets dispersed as outlined in the escrow instructions.

    At the close of escrow, payment of funds shall be made in an acceptable form to the escrow. As your REALTOR, I'll inform you of the acceptable form of payment.

    The Escrow Holder Will:

    • Assemble escrow instructions
    • Request title research
    • Comply with lender's standards as noted in the escrow agreement
    • Intake payments from the buyer
    • Prorate interest, insurance, tax and other payments according to instructions
    • Record deeds and other legal documents as instructed
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse monies and finish instructions

    The Escrow Holder Won't:

    • Advise you - the escrow holder must maintain a neutral, third-party status
    • Give insight about the outcome of your taxes
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Assemble escrow guidelines
    • Perform a title research
    • Comply with lender's requirements as outlined in the escrow agreement
    • Intake payments from the buyer
    • Prorate interest, insurance, tax and other payments according to guidelines
    • Record deeds and other documents as instructed
    • Obtain title insurance policy
    • Close escrow when all terms of agreement of seller and buyer are met
    • Disburse monies and finish instructions
    • Tell you what's best - the escrow company stays at an impartial, third-party status
    • Give insight about future tax estimations

    Mortgage Escrow Account

    A Mortgage Escrow Account is established to make payments for recurring expenses while there is a loan on the house. Escrow Accounts are contributed to monthly by the home buyer (who is now the homeowner), but there is also a lump sum that goes into the account at closing.

    This is a easy to understand guide about the escrow process. Your individual process could be different based on your lender and your escrow holder.

    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


    Portions Copyright © 2018 Pipeline ROI, LLC
    Another website by Pipeline ROI.  | Admin Login | Terms of Use | Site Map | Area Listings
    All rate, payment, and area information are estimates and approximations only.