You can expect your escrow officer or closing agent to do several specific things for you. Including:
Ordering title reports
Securing payoff demands/and or beneficiary statements from existing lenders and requesting full reconveyances of any deed of trust or mortgages to be paid off in escrow
Obtaining instructions and loan documents from the new lender
Obtaining documents to clear any outstanding liens against the property
Issuing receipts for deposits of documents and holding funds in a separate account
Prorating taxes, interest, rents, etc.
Preparing buyers and seller's escrow instructions and seeing that all documents are properly executed
Determining when everything is going to be completed so the transaction can close
Obtaining title insurance for the buyer and or the lender
Arranging timely transfer of insurance policies
Recording the necessary documents, such as grant deeds, deeds of trust, powers of attorney, substitutions of liability, and reconveyances, when all the conditions of the transaction have been met
And finally, disbursing all funds to the proper parties, delivering documents and preparing the final closing statements.
Your choice of escrow or closing agent may be one of the most important decisions you make to arrive at your final goal of a timely real estate sale or purchase.
For a list of experienced, reputable and recommended Title & Escrow Companies in Southern Nevada, please let us know how to reach you by filling out your information below, and a Brenkus Team member will contact you with our recommendation for your particular kind of property.