Check out our latest video to help people understand what goes on in an escrow!

Leave a Comment     Category: Escrow, Escrow 101, Important Information

The language of escrow and the real estate transaction doesn’t need to be a stumbling block; once you know the terms, these words become what they are meant to be – valuable tools to help smooth the road to a successful transaction. Contingency This is a clause in the sales contract that says something must […]

Leave a Comment     Category: Escrow, Escrow 101, Important Information

Understanding contingencies is important when you are considering making an offer on a property.   A contingency is a condition in the Purchase Agreement that allows the buyer(s) to remove themselves from the contract with their deposit refunded if certain conditions are not met after their offer is presented. Some of the most common contingencies are: […]

Leave a Comment     Category: Escrow, Escrow 101

If you are in the process of purchasing or selling your first home, the escrow process is something that might come across a foreign territory to you. It is definitely understandable, as the terminology and steps involved are often extremely detailed oriented and must be completed in a strategic fashion. Knowing that you have an […]

Leave a Comment     Category: Escrow, Escrow 101

With the increased amount of foreclosures on the market today, escrow officers are often asked about the foreclosure process. The first thing to know is the foreclosure terminology, which we discussed in a prior post. What is important for homebuyers and sellers to understand is that foreclosures happen to loans not properties therefore it is […]

Leave a Comment     Category: Escrow, Escrow 101

When purchasing a home the escrow process can appear to be complex, especially for a first time home buyer. Following is an overview of the escrow process from the buyers perspective: Escrow is officially “open” once the Escrow Holder receives a purchase contract signed by both the Buyer and Seller. Escrow holder then assigns an […]

Comment (1)     Category: Escrow, Escrow 101

Short sales and foreclosures are the current hot topic in real estate with many of these types of transactions coming across the Escrow Officers desk. Foreclosures and short sales are often confused but they are two distinct processes supported by their own individual terminology. Following is a summary of many of the most common terms […]

Comments (2)     Category: Escrow, Escrow 101

What is the Statement of Information? Upon the opening of escrow, Buyers and Sellers receive their initial escrow package – the Statement of Information (also known as the Statement of Identity) is included in this package for completion and return to the escrow holder. The statement of information is a one page document which requests […]

Leave a Comment     Category: Escrow, Escrow 101

The escrow process can be a complicated and often technical necessity of buying and selling real estate.  The escrow company and its officer have many duties to juggle on behalf of the Realtor, Seller, and Buyer during the real estate transaction.  Understanding the various duties and functions of the escrow can assist all parties in […]

Comments (2)     Category: Escrow, Escrow 101

How would you react if you had a limited amount of funds in the bank to pay for closing costs and then were hit with hundreds of dollars in extra “unexpected” closing costs? This is a problem that the Real Estate Settlement Procedures Act (RESPA) was enacted to eliminate. The goal of RESPA is stop […]

Comments (4)     Category: Escrow, Escrow 101

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