Closing the Sale Escrow To finalize the sale of the home a neutral, third party (the escrow holder, a.k.a. escrow agent) is engaged to assure the transaction will close properly and on time. The escrow holder insures that all terms and conditions of the seller's and buyer's agreement are met prior to the sale being finalized, including receiving funds and documents, completing required forms, and obtaining the release documents for any loans or liens that have been paid off with the transaction, assuring you clear title to your property before the purchase price is fully paid.
Upon completion of all instructions of the escrow, closing can take place. All outstanding payments and fees are collected and paid at this time (covering expenses such as title insurance, inspections, real estate commissions). Title to the property is then transferred to the seller and appropriate title insurance is issued as outlined in the escrow instructions. At the close of escrow, payment of funds shall be made in an acceptable form to the escrow. As your real estate agent, I'll inform you of the acceptable form.
Mortgage Escrow Account A Mortgage Escrow Account is established to pay on-going expenses while there is a loan on the house. These expenses include property taxes, home insurance, mortgage insurance, and other escrow items. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment. |
Diamond Mortgage, LLC
10735 Sky Prairie Street, Ste 300
Fishers, IN 46038
317-842-7744
10735 Sky Prairie Street, Ste 300
Fishers, IN 46038
317-842-7744

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All loans subject to credit approval. Loan programs vary according to state, and are subject to change at any time.
Diamond Mortgage, LLC will make every attempt to make any updates and corrections in a timely fashion. Diamond Mortgage, LLC is an Indiana based mortgage company (Indiana Loan License# 96-0222 LB). All information provided to Diamond Mortgage, LLC will not be sold or given to any third parties as we respect you privacy.
Diamond Mortgage, LLC 10735 Sky Prairie Street, Ste 300 Fishers, IN 46038
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