A Good Lender mortgage and loan services

A Good Lender has a wide variety of loans available for purchasing or refinancing a property or project you have. Contact A Good Lender for help today.

925-326-9900
Email: info@agoodlender.com

A Good Lender
4683 Chabot Drive Suite 280 Pleasanton, CA 94588

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Closing the Sale – How Escrow Works

Escrow

To finalize the sale of the home a neutral, third party (the escrow holder, a.k.a. escrow agent) is engaged to assure the transaction will close properly and on time. The escrow holder insures that all terms and conditions of the seller’s and buyer’s agreement are met prior to the sale being finalized, including receiving funds and documents, completing required forms, and obtaining the release documents for any loans or liens that have been paid off with the transaction, assuring you clear title to your property before the purchase price is fully paid.

The documentation the escrow holder may be collecting includes:

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

Upon completion of all instructions of the escrow, closing can take place. All outstanding payments and fees are collected and paid at this time (covering expenses such as title insurance, inspections, real estate commissions). Title to the property is then transferred to the seller and appropriate title insurance is issued as outlined in the escrow instructions.

At the close of escrow, payment of funds shall be made in an acceptable form to the escrow. As your real estate agent, I’ll inform you of the acceptable form.

The Escrow Holder Will:
  • Prepare escrow instructions
  • Request title search
  • Comply with lender’s requirements as specified in the escrow agreement
  • Receive funds from the buyer
  • Prorate insurance, tax, interest and other payments according to instructions
  • Record deeds and other documents as instructed
  • Request title insurance policy
  • Close escrow when all instructions of seller and buyer have been met
  • Disburse funds and finalize instructions
The Escrow Holder Won’t:
  • Give advice – the escrow holder must maintain neutral, third-party status
  • Offer opinions about tax implications

Mortgage Escrow Account

A Mortgage Escrow Account is established to pay on-going expenses while there is a loan on the house. These expenses include property taxes, home insurance, mortgage insurance, and other escrow items. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

A Good Lender
NMLS #1692403
925-326-9900
info@agoodlender.com
4683 Chabot Drive Suite 280
Pleasanton, CA 94588

Loan Products

  • 7 Advantages To FHA Loan Financing!
  • Conforming Loans – Fannie Mae/Freddie Mac
  • VA Loans for you
  • True Jumbo Loans
  • Reverse Mortgages
  • Commercial – Business purpose loans
  • Unique – Unique loans for exception loans

925-326-9900
info@agoodlender.com
4683 Chabot Drive Suite 280
Pleasanton, CA 94588
NMLS #1692403

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A Good Lender fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. ! This material is not from HUD or FHA and has not been approved by HUD or a government agency.

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