Closing The Deal
Closing The Deal
Closing The Deal
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Closing The Deal 2017-11-29T09:09:11+00:00

Now that both parties have agreed on terms and conditions, the transaction now proceeds to escrow. An escrow is a deposit of funds, a deed, or other instrument by one party for the delivery to another party upon completion of a particular condition or event. The escrow holder has the obligation to safeguard the funds and/or documents while they are in the possession of the escrow holder, and to disburse funds and/or convey title when all provisions of the escrow have been complied with.

The choice of the escrow holder is normally done by agreement between the principals and many times are based on the recommendation of the principals agent. However, it is the right of the principals to use any escrow holder they choose. One note here: to insure that the consumer is afforded the best possible escrow service without compromise, referral fees paid to agents is prohibited by law.

While your transaction is in escrow you will receive documents from an escrow officer that will require your immediate attention. Any delay in responding may cause a delay in the closing of your escrow. If you should have any questions regarding your documents, promptly contact your escrow officer for an explanation. Your escrow officer is not an attorney and will not give you legal advice. The escrow officer is there to follow the instructions given by the principals in the escrow. If you need legal advice, consult a lawyer.

While the escrow holder is busy doing their part, your agent will be busy doing his. Arranging inspections and appraisals, requesting repairs, reviewing reports, and assisting the escrow holder and you by working to overcome the numerous obstacles that can occur in order to expedite the transaction. Most escrows take between 30 to 60 days depending on the release of contingencies in the escrow instructions. When all of the contingencies have been satisfied and all documentation has been signed and finalized by all the principals, your escrow will “close” and shortly thereafter you can take possession of your new home! Good luck!

The California Escrow Association (CEA) maintains an excellent website that answers more questions about the escrow process than I could possibly address here.  Visit www.ceaescrow.org

Planning and Organizing Your Move

Related Articles:

Is Your Financial House in Order?

Get Qualified

Make a Wish List

Make a Checklist

Go House-Hunting

Is My Agent Looking Out for my Best Interests?

Making an Offer

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.
Closing The Deal 2017-11-29T09:09:11+00:00

Now that both parties have agreed on terms and conditions, the transaction now proceeds to escrow. An escrow is a deposit of funds, a deed, or other instrument by one party for the delivery to another party upon completion of a particular condition or event. The escrow holder has the obligation to safeguard the funds and/or documents while they are in the possession of the escrow holder, and to disburse funds and/or convey title when all provisions of the escrow have been complied with.

The choice of the escrow holder is normally done by agreement between the principals and many times are based on the recommendation of the principals agent. However, it is the right of the principals to use any escrow holder they choose. One note here: to insure that the consumer is afforded the best possible escrow service without compromise, referral fees paid to agents is prohibited by law.

While your transaction is in escrow you will receive documents from an escrow officer that will require your immediate attention. Any delay in responding may cause a delay in the closing of your escrow. If you should have any questions regarding your documents, promptly contact your escrow officer for an explanation. Your escrow officer is not an attorney and will not give you legal advice. The escrow officer is there to follow the instructions given by the principals in the escrow. If you need legal advice, consult a lawyer.

While the escrow holder is busy doing their part, your agent will be busy doing his. Arranging inspections and appraisals, requesting repairs, reviewing reports, and assisting the escrow holder and you by working to overcome the numerous obstacles that can occur in order to expedite the transaction. Most escrows take between 30 to 60 days depending on the release of contingencies in the escrow instructions. When all of the contingencies have been satisfied and all documentation has been signed and finalized by all the principals, your escrow will “close” and shortly thereafter you can take possession of your new home! Good luck!

The California Escrow Association (CEA) maintains an excellent website that answers more questions about the escrow process than I could possibly address here.  Visit www.ceaescrow.org

Planning and Organizing Your Move

Related Articles:

Is Your Financial House in Order?

Get Qualified

Make a Wish List

Make a Checklist

Go House-Hunting

Is My Agent Looking Out for my Best Interests?

Making an Offer

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Closing The Deal 2017-11-29T09:09:11+00:00

Now that both parties have agreed on terms and conditions, the transaction now proceeds to escrow. An escrow is a deposit of funds, a deed, or other instrument by one party for the delivery to another party upon completion of a particular condition or event. The escrow holder has the obligation to safeguard the funds and/or documents while they are in the possession of the escrow holder, and to disburse funds and/or convey title when all provisions of the escrow have been complied with.

The choice of the escrow holder is normally done by agreement between the principals and many times are based on the recommendation of the principals agent. However, it is the right of the principals to use any escrow holder they choose. One note here: to insure that the consumer is afforded the best possible escrow service without compromise, referral fees paid to agents is prohibited by law.

While your transaction is in escrow you will receive documents from an escrow officer that will require your immediate attention. Any delay in responding may cause a delay in the closing of your escrow. If you should have any questions regarding your documents, promptly contact your escrow officer for an explanation. Your escrow officer is not an attorney and will not give you legal advice. The escrow officer is there to follow the instructions given by the principals in the escrow. If you need legal advice, consult a lawyer.

While the escrow holder is busy doing their part, your agent will be busy doing his. Arranging inspections and appraisals, requesting repairs, reviewing reports, and assisting the escrow holder and you by working to overcome the numerous obstacles that can occur in order to expedite the transaction. Most escrows take between 30 to 60 days depending on the release of contingencies in the escrow instructions. When all of the contingencies have been satisfied and all documentation has been signed and finalized by all the principals, your escrow will “close” and shortly thereafter you can take possession of your new home! Good luck!

The California Escrow Association (CEA) maintains an excellent website that answers more questions about the escrow process than I could possibly address here.  Visit www.ceaescrow.org

Planning and Organizing Your Move

Related Articles:

Is Your Financial House in Order?

Get Qualified

Make a Wish List

Make a Checklist

Go House-Hunting

Is My Agent Looking Out for my Best Interests?

Making an Offer

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.