What exactly is an escrow?
An escrow is an independent “stakeholder” account and is the vehicle by which the interests of all parties to the transaction are protected. Your escrow is created shortly after you execute your contract to purchase your home. The escrow becomes the depository for all monies, instructions and documents pertaining to the purchase of your home. Some aspects of the purchase are not part of the escrow. For example, the buyer and the seller must decide which fixtures or personal property items are included in the purchase. Similarly, loan negotiations are between the buyer and the lender. Your real estate agent can guide you in these non-escrow matters.
How does the escrow process work?
The escrow is a depository for all monies, instructions and documents necessary for the purchase of your home, including your funds for the down payment and your lender’s funds and documents for the new loan. The escrow officer takes instructions based on the terms of your purchase agreement and your lender’s requirements. The escrow officer can hold inspection reports and bills for work performed as required by your purchase agreement. Other elements of the escrow include hazard insurance, title insurance and the deed from the seller to you. Escrow cannot be completed until the instructions (requirements) have been satisfied, and all parties have signed escrow documents.
Protect your priorities and live your dreams!
We work to achieve great benefits for each individual "client" policyholder and all institutions that are invoived in your investment.... What it can do for you is plain and simple:
Title insurance protects your interests, in your investment.
We can perform Title Searchs for any real property in the state of Florida.
Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions. While other types of insurance (such as flood, auto or homeowners insurance) provide coverage that focuses on possible future events, title insurance protects against loss from hazards and defects already existing in the title to a property. Some examples of such defects might be improperly executed documents from a previous sale or a lien against a previous owner.
Many real estate transactions experience an issue during the course of the sale or purchase and the chain of title is very important.
Every residential search is insured for up to $1,000,000 with our professional liability insurance. Besides searches for residential properties, we handle complex commercial searches, including developer’s, buildings, condos, cell towers, plants, environmental, oil & gas.