Home Our Listings About Us Testimonials Results for You! Contact Us
661-205-5475 661-205-5475 Bakersfield, California, Bakersfield, 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 Bakersfield, buying a house in Bakersfield, buying a house in California, real estate agent in Bakersfield, real estate agent in Bakersfield, real estate agent in California, finding a real estate agent in Bakersfield, finding a real estate agent in Bakersfield, finding a real estate agent in California, buying houses, buying homes, selling homes, selling houses, Fenton Real Estate, 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
  • The process of buying a house for the first time can be overwhelming. Let me help you. E-mail me at debbie@fentonre.com to get some free information.

    Buying Your Next House: Closing

     Fenton Real Estate can walk you through closing - 661-205-5475
    First, a little about "escrow". An escrow holder is used to assure your home closes on time and the closing process goes smoothly. When funds are held by a third party in a transaction between a buyer and a seller, it's in escrow. A simple way to think of what an escrow company does is to think of the use of PayPal for online purchases.

    The escrow agent makes sure that all terms and conditions of the seller's and buyer's negotiated agreement are met prior to the sale being finalized. This includes getting funds and documents, finishing required forms, and seeking out the release documents for any loans or liens that have been cleared with the transaction, assuring you have a clean title to your house before the negotiated price is fully paid.

    The documents the escrow company may collect include:

    Upon finishing of all instructions of the escrow, closing can take place. All payments owed and fees are collected and paid at this time (covering expenses such as title insurance, inspections, real estate commissions). The house's title gets handed over to you and title insurance is issued per the policies of your particular escrow agreement.

    The escrow holder receives a payment when the closing is complete. You'll know when it's time to submit the form of payment.

    The Escrow Holder Will:

    • Write escrow guidelines
    • Request title research
    • Comply with the bank's guidelines as specified in the escrow agreement
    • Receive funds from the buyer
    • Prorate tax, interest, insurance and other fees according to guidelines
    • Record deeds and other paperwork as instructed
    • Request title insurance policy
    • Close escrow when all terms of agreement of seller and buyer are complete
    • Disburse monies and finalize instructions

    The Escrow Holder Won't:

    • Give advice - the escrow holder stays a neutral, third-party status
    • Offer opinions about tax implications
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow instructions
    • Request title search
    • Comply with the bank's requirements as noted in the escrow agreement
    • Intake funds from the buyer
    • Prorate tax, interest, insurance and other fees according to guidelines
    • Record deeds and other legal documents as instructed
    • Request title insurance policy
    • Close escrow when all instructions of seller and buyer have been met
    • Disburse monies and finalize instructions
    • Offer advice - the escrow company stays a neutral, third-party status
    • Offer opinions about tax implications

    Mortgage Escrow Account

    A Mortgage Escrow Account is established to make payments for on-going fees while there is a loan on the house. Usually, the home buyer makes a payment at closing and also makes regular deposits through their monthly mortgage payment to fund the Escrow Account.

    This is a quick run-down of the escrow process. Your individual process might vary depending on your lender and your escrow company.

    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