Whether it's your first property or your next property, I'll walk you through the process. Contact me.

Closing the Sale in Vista, California

 Stoneridge Realty & Property Management Services can walk you through closing - 760-727-3776
First, a little about "escrow". When you're closing on your new house, an escrow company is used to assure the transaction will close correctly and in a timely manner. Escrow agents hold money for "safe-keeping" in an exchange between a buyer and seller. PayPal is a good example of an escrow company.

The escrow agent insures that all terms and conditions of the seller's and buyer's negotiated agreement are performed prior to the sale being completed. This includes receiving monies and documents, completing required forms, and obtaining the release documents for any loans or liens that are to be cleared with the transaction, assuring you have a clean title to your house before the final price is fully paid.

Escrow companies compile the following records:

  • Title insurance policies
  • Terms of sale and any seller-assisted financing
  • Requests for payment for various services to be paid out of escrow funds
  • Loan documents
  • Tax statements
  • Fire and other insurance policies

Closing on the home happens when all of the procedures 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 home's title gets handed over to you and title insurance begins per the policies of your particular escrow process.

The escrow company gets a payment when the closing is complete. As your REALTOR, I'll inform you of the acceptable way of paying.

The Escrow Holder Will:

  • Assemble escrow guidelines
  • Perform a title research
  • Meet lender's standards as written in the escrow agreement
  • Receive funds from the buyer
  • Prorate tax, interest, insurance and other fees according to instructions
  • Record deeds and other documents as instructed
  • Obtain title insurance policy
  • Close escrow when all terms of agreement of seller and buyer are complete
  • Disburse funds and finish instructions

The Escrow Holder Won't:

  • Give advice - the escrow company must maintain a neutral, third-party status
  • Offer opinions about future tax estimations
The Escrow Holder Will:
The Escrow Holder Won't:
  • Write escrow guidelines
  • Request title search
  • Meet the bank's guidelines as specified in the escrow agreement
  • Accept payments from the buyer
  • Prorate interest, insurance, tax and other payments 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 finish instructions
  • Advise you - the escrow holder must maintain a neutral, third-party status
  • Offer opinions 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 confident buyer.