Essential Escrow Tips for New Home Buyers 

Looking for your new home? You’ll want to read these escrow tips!

Purchasing a piece of real estate can be a large decision, especially if a buyer is new to the process. While the expenses associated with buying real estate can cause stress, this stress can be increased by the impending commitment. So that you understand the real estate and escrow relationship so you can feel confident in this transaction, read on.

When you buy, you’ll need an escrow account.
You want the assurance that no funds or property will change hands until all of the instructions in the transaction have been followed. The escrow holder has the obligation to protect the funds and documents while they are in his or her possession. Then, the escrow holder will disburse funds and convey title only when all provisions of the escrow have been met.

You will need an escrow officer.
Your escrow officer will service as the unbiased third party and will liaise between you and your seller. Your officer is there to help with the paperwork related to finalizing your home purchase, including title, transfer, financing, and more. Always ask for referrals to ensure that you’re working with an officer who is committed to helping you! Ideally, choose an escrow officer who has a detailed background of complex purchases.

There are benefits.
Opening an escrow gives you peace of mind. Throughout the course of a year, homeowners have many responsibilities—planned and unplanned. New homeowners are likely to spend a bulk of money in the first year renovating, furnishing their home, and making their house a “home.” The last thing anyone wants to think about is spending additional funds not planned for.

Look around for the right company.
Closing will cost you. Fortunately, you can control how much. Comparison shop for your escrow services to contrast prices, services, and availability.

Escrow isn’t always straightforward, so it pays to have the experts on your side! Be sure to contact Eastland Escrows for your ideal service! Our trusted escrow professionals service Covina and the surrounding areas in California with quality escrow services.

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