“UNDERSTANDING ESCROW”
“UNDERSTANDING ESCROW”
During the final stages of purchasing the home, after the price has been agreed upon between all interested parties, the word escrow enters the conversation. There can be some confusion as to what escrow means. The escrow process begins with the opening of the escrow account. It is used to make payments on the homeowner’s behalf for real estate taxes and premiums for the insurance required to protect property, such as homeowners’ insurance. The funds put into escrow are a part of a homeowner’s monthly mortgage payment, which ensures that the bills are paid in full and on time. Next comes acquiring bank approval, securing all financing, obtaining a home inspection, purchasing hazard insurance, and going through the closing process.
Specializing in holding all the details involved in both buying and selling homes, we have been serving the real estate needs of our community here in the greater New York are for over 55 years. Can we help you? Although we have no problem keeping the big picture in mind, we are very detail-oriented and will devote the time and attention necessary to answering our customers’ and clients’ questions and helping them reach their goals. It’s not necessary to go through the selling/buying process alone, when we’re close by. “OUR SUCCESS HAS BEEN BUILT ONE SATISFIED CUSTOMER AT A TIME.”
