Opening & Closing
Escrow
Escrow
A neutral third party holds
documents and money for a real estate transaction and ensures that all
conditions of a sale are met. Also refers to a special account that a
lender uses to hold a borrower's monthly payments on property taxes and
insurance. A lot has to happen in the weeks before you close. Stay on
top of the details so you can close on time, keep costs down, and
understand everything you sign.
Develop a Schedule
Create a
Closing Plan to complete tasks on time.
Everyone involved in
your transaction must perform dozens of tasks before you can close on
your home. Use the checklists provided to create a "Closing Plan," so
you can manage the work and keep the process on track.
Your Closing Plan
- Get ahead by organizing the tasks required
for closing.
- Complete remaining tasks and make final
arrangements.
- Be prepared, bring the right papers, and
know what you're signing.