01/08/2019
🤔WHAT IS ESCROW❔
👉Escrow is a neutral 3rd party that acts on behalf of the buyer & seller.🏡Escrow compiles & processes all the elements of a real estate transaction.📄We prepare documents, make sure the title is clear of any unacceptable defects or claims, exchange funds, process payoffs, & record documents. 📝This includes responding to lender requirements, obtaining approvals of reports & documents as required in the contract, & prorating insurance, taxes & rents.💰The purchase is officially closed when the new deed is recorded with the county.🚪Ownership is then considered transferred from the seller to the buyer.
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