Whether it's your first home or your next place, We'll advise you through the process. E-mail us at isaac@whitesquirrelrealty.com to get some free information.

Completing the Transaction

 White Squirrel Realty can walk you through closing - 828-877-3434
Let's talk about "escrow". When you're closing on your new house, an escrow agent is used to make sure the process will close without problems and on time. When money is held by a third party in a transaction between a buyer and a seller, it's in escrow. PayPal is a simple way to think of an escrow company.


Clearing the final hurdles like taking in funds, finishing forms, getting the documents for loans and liens, and making sure you get a spotless title to the home prior to your purchase gets finalized are all part of the job of the escrow agent.

These are the records that escrow holders usually look for:

  • Terms of sale and any seller-assisted financing
  • Requests for payment for various services to be paid out of escrow funds
  • Loan documents
  • Tax statements
  • Fire and other insurance policies
  • Title insurance policies

Closing on the home takes place when the steps of the escrow are done. At this time, all payments and dues for inspections, title insurance and real estate commissions are paid out. The home's title gets transferred to you and title insurance begins per the steps of your particular escrow process.

The escrow agent gets a payment at the completion of closing. We'll keep you updated on the next steps.

The Escrow Holder Will:
The Escrow Holder Won't:
  • Prepare escrow guidelines
  • Petition title research
  • Comply with the bank's requirements as outlined in the escrow agreement
  • Accept funds from the buyer
  • Prorate tax, interest, insurance and other fees according to instructions
  • Record deeds and other legal documents as instructed
  • Request title insurance policy
  • Close escrow when all instructions of seller and buyer are met
  • Disburse monies and finish instructions
  • Advise you - the escrow company stays at an impartial, third-party status
  • Offer opinions about the outcome of your taxes

Mortgage Escrow Account

A Mortgage Escrow Account is established to make payments for rolling expenses while there is a loan on the house. Escrow Accounts are contributed to monthly by the home buyer (who is now the homeowner), but there is also a lump sum that goes into the account at closing.

This is a quick run-down of the escrow process. Your particular process might be unique based on your lender and your escrow holder.

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