Closing With Your Santa Fe Escrow Officer

Closing With Your Santa Fe Escrow Officer

Escrow officers at the title company provide numerous services, bringing all parties together for a timely closing.

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- Officers verify contract is complete and executed by all parties. They administer and satisfy all the contract obligations.

- Officers run title to determine the legal owner, all liens, and restrictions on property. Work to resolve title issues, liens and judgments.

- Officers disclose - covenants, restrictions and other encumbrances against the property.

- Officers order the survey and examine for insurability to the buyer and lender.

- Officers supply lender with all their needs for documentation and insurance, then obtain loan documents to close.

- Officers check to comply with all new RESPA guidelines.

- Officers administer compliance of the Foreign Investment Real Property Tax Act.

- Officers insure the purchaser with a title insurance policy.

- Officers insure the lender that the mortgage documents are valid and enforceable again the subject property, so loan can be sold on the secondary market.

- Officers handle all the money via escrow at the title company - earnest deposit, lender funds, buyer funds, seller payoffs, seller proceeds.





Anthony Atwell Headshot
Author:
Phone: 505-670-2177
Dated: April 29th 2015
Views: 606
About Anthony: Santa Fe Real Estate, fine homes and land, is my specialty. I have been a Santa Fe Realtor for 28 ye...

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eXp Realty New Mexico
762 1/2 W. Manhattan Ave
Santa Fe, NM
505-322-6659