What is Escrow?
Escrow is an arrangement in which a neutral third party (escrow agent) takes instruction from buyer and seller to process documentation and handle funds in the real estate transactions.
Borrower! Payments to Lender
Record & Disburse Funds
Title Insurance Check Taxes & Legal Title Search Examination Issue Commitment Record Documents Issue Policy to Lender Issue Policy to Owner
Review & Clear Title
Were you
Oversee Closing Documents Signed
aware that
ESCROW Prepare Legal Documents Closing Statement & Escrow Instructions Determine Status Taxes Liens Mortgages
all of this went into an Escrow?
Insurance Binder Lender Mortgage Insurance Underwriter Loan Approval Verification Borrower Funds Employment Appraisal Credit Report