Escrow is a a neutral third party for the protection of all parties to
a real estate transaction. The escrow is overseen by an escrow officer
employed by a title company or by an independent escrow company. All parties
are protected because the escrow holder will retain funds and documents
until all the instructions are fulfilled.
An escrow is created when money and/or documents are deposited
with the escrow officer. The escrow officer’s authority is governed
by written instructions, mutually agreed upon by the parties involved.
The instructions direct the escrow holder to perform duties necessary to
complete the transaction. A few of the tasks which may be required are:
• Receive and deposit earnest money (deposit check)
• Receive documents relating to the escrow and prepare escrow instructions
• Calculate and prorate taxes, liens, interest, rents, and insurance policies
• Order information for payoff of existing liens
• Make arrangements for title insurance protection for the buyer and lender
• Request and receive funding from new lender when conditions have been satisfied
• Arrange for recording of the conveyance documents and any other legal instruments required to transfer title to the
property pursuant to the terms of the purchase agreement
• Close the escrow and disburse funds as agreed upon in the instructions
• Prepare a closing statement for the parties showing disposition of funds
As your Realtors we will guide you through the entire process!
WE ALWAYS HAVE TIME FOR YOU, YOUR FAMILY & FRIENDS!
CONNIE UMBARGER SFR, D-REO (619) 933-9594
license 01335770
TONY FLORES SFR, D-REO (619) 813-7751
license 01307791
Short Sale and REO Certified
Real Estate Team
Century 21 Award
Connie.Tony@yahoo.com
Specializing in Jamul, El Cajon, Rancho San Diego, Spring Valley, Lemon Grove, Lakeside, Alpine, Ramona, La Mesa, Santee, San Carlos, Del Cerro, Mission Valley, Bonita, Chula Vista, San Diego County Real Estate, Connie and Tony, San Diego REO's, San Diego Short Sales, Century 21 Award, Va Buyers
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