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What To Expect When You're Closing in Naples

 Metro Properties can walk you through closing - 866-300-1550
First, a little about "escrow". When you're closing on your new home, an escrow company is used to make sure the process will close correctly and in a timely manner. Escrow agents hold money for "safe-keeping" in an exchange between a buyer and seller. For example, in a Web transaction, PayPal is the neutral third party that holds the buyer's money, and then disburses the funds to the seller.


The escrow holder makes sure that all terms and conditions of the seller's and buyer's agreement are reached prior to the sale being finalized. This includes getting payments and records, finishing required forms, and getting the release documents for any loans or liens that were paid off with the transaction, assuring you have a clear title to your property before the negotiated price is fully paid.

The documents the escrow agent may secure include:

  • Loan documents
  • 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

Closing on the house takes place when the steps of the escrow are done. All outstanding payments and fees are taken and paid off at this time (covering expenses such as title insurance, inspections, real estate commissions). The property's title gets transferred to you and title insurance is issued per the policies of your individual escrow process.

At the close of escrow, payment of funds shall be made in an acceptable form to the escrow. You'll know when it's time to submit the form of payment.

The Escrow Holder Will:
The Escrow Holder Won't:
  • Prepare escrow instructions
  • Perform a title research
  • Comply with the bank's requirements as specified 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 terms of agreement of seller and buyer are met
  • Disburse monies and finalize instructions
  • Advise you - the escrow holder stays a neutral, third-party status
  • Offer opinions about the outcome of your taxes

Mortgage Escrow Account

Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your 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.

Now you know more about being in escrow. And, you can be a more informed home buyer and future homeowner.

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