Escrow / Title / Notary
Escrow, Title Insurance and Notary Service are businesses that many people are not familiar with. The information below are items that may benefit in choosing such companies.
Escrow- The Escrow Officer collects the Buyer's down payment and the Lender's loan funds. At the closing, all funds collected by the Escrow company pay the Seller's loans, liens, and Vendor bills approved by the parties. The Seller's calculated final net proceeds will be released.
Reputation Matters.
Communication with clients is a huge factor in Escrow service.
The location of the Escrow office is Important since you may need to go to it.
Compare prices with other Escrow companies.
The buyer in the real estate sales transaction generally makes the selection of the escrow agent and the title insurance company.
Escrow typically takes 30 to 60 days to close.
What does a Title company do?
Before issuing a title insurance policy, title companies search and examine title plants or public records to identify liens, claims or encumbrances on the property, and alert you to possible title defects.
Purchasing title insurance is a one-time fee.
The price of an owner's policy is based on the home's purchase price, and the lender's policy is based on the loan amount.
Combined, both policies typically cost around 0.5% to 1% of the home's purchase price.
The selection of a title company is usually made based on the reputation of the Title Company.
How to Choose a Notary Public
Notaries are selected primarily based on first, location, second qualification and reputation and finally cost.
Experienced notary publics are often members of national, state, and local professional associations.
