Purchasing a house for the first time can be overwhelming. Let us help you. Contact us and we'll make sure you're a confident buyer.

I'll Champion for You Through Closing

 The BARBARA PUGH Real Estate Team can walk you through closing - 910-520-2945
Let's talk about "escrow". A neutral, third party (known as the escrow holder or the escrow agent) is brought on to assure your house closes on time and the money exchanging part of closing goes smoothly. When funds are held by a third party in a transaction between a buyer and a seller, it's in escrow. For example, in an online auction, PayPal is the neutral third party that obtains the buyer's funds, and then disburses the payment to the seller.


Tying up any loose ends like taking in funds, signing forms, obtaining the documents for loans and liens, and assuring you get a spotless title to the home prior to your purchase gets finalized are all parts of closing in which an escrow holder is useful.

These are the pieces of paperwork that escrow agents usually compile:

  • 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

You're ready to close when every step is finished in escrow process. All payments owed and fees are taken and paid off at this time (covering expenses such as title insurance, inspections, real estate commissions). The home's title goes to you and title insurance begins per the policies of your particular escrow agreement.

At the close of escrow, in an acceptable form to the escrow. You'll know when it's time to submit the form of payment.

The Escrow Holder Will:
The Escrow Holder Won't:
  • Prepare escrow instructions
  • Perform a title research
  • Comply with the bank's standards as noted in the escrow agreement
  • Intake payments from the buyer
  • Prorate interest, insurance, tax and other payments according to instructions
  • Record deeds and other legal documents as instructed
  • Obtain title insurance policy
  • Close escrow when all instructions of seller and buyer are complete
  • Disburse funds and finish instructions
  • Tell you what's best - the escrow agent stays at an impartial, third-party status
  • Give insight about the outcome of your taxes

Mortgage Escrow Account

A Mortgage Escrow Account is used to make payments for rolling fees while there is a loan on the house. Though most home buyers make payments via their monthly mortgage payment, Escrow Accounts are deposited into at closing as well.

Once you're at ease with the escrow process, you can be a informed buyer.