Most people will agree that buying a home is one of the BIGGEST investments they'll ever make. Like any investment, real estate comes with long term costs that need to be considered and budgeted
WHAT IS ESCROW
Dated: January 1 2019
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WHAT IS ESCROW?
What is Escrow?
Once your offer on a home or other real property has been accepted by the seller, your transaction is then placed into "escrow."
The purpose of escrow is to facilitate the transaction by managing the disbursement of funds and documents.
Key Players in the Escrow Process
Your escrow officer will play a key role in the process, but homebuyers, sellers, lenders and real estate professionals are also integral throughout the process.
While a real estate agent may recommend Alliance Escrow Inc, the buyer and seller have the right to choose their settlement service providers.
Escrow Officer's Job
Adheres to escrow instructions (outlined in the sales contract)
Process the escrow
Close the escrow
Pay bills, fees and charges as outlined in the instructions
Disburses funds
Provides settlement closing statement
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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not tofurther investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g.square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial usein accordance with
Based on information from California Regional Multiple Listing Service, Inc. as of June 24, 2021 12:01 PM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
