Whether it's your first house or your next property, We'll educate you through the process. E-mail us at c.cathyheckman@gmail.com to get some free information.

Completing the Transaction

 Cathy Heckman can walk you through closing - 303-638-7814
Escrow: When you're closing on your new home, an escrow holder is used to guarantee the transaction will close appropriately and in a timely manner. Escrow agents hold money for "safe-keeping" in an exchange between a buyer and seller. For example, in an Internet purchase, PayPal is the secure third party that obtains the buyer's money, and then disburses the payment to the seller.


Settling the last details like obtaining funds, finishing forms, getting the documents for loans and liens, and assuring you get a clean title to the property prior to your purchase gets finalized are all parts of closing in which an escrow agent is useful.

Escrow holders collect the following legal 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
  • Loan documents

Upon completion of all instructions of the escrow, closing can take place. At this time, all payments and dues for inspections, title insurance and real estate commissions are paid out. You'll then secure the title to the house and the title insurance gets dispersed as outlined in the escrow instructions.

At the close of escrow, in an acceptable form to the escrow. We'll keep you updated on the next steps.

The Escrow Holder Will:
The Escrow Holder Won't:
  • Prepare escrow guidelines
  • Petition title search
  • Meet the bank's guidelines as outlined in the escrow agreement
  • Intake funds from the buyer
  • Prorate interest, insurance, tax and other payments according to guidelines
  • Record deeds and other paperwork as instructed
  • Request title insurance policy
  • Close escrow when all terms of agreement of seller and buyer are met
  • Disburse monies and finish instructions
  • Offer advice - the escrow agent stays at an impartial, third-party status
  • Dispense opinions about future tax estimations

Mortgage Escrow Account

A Mortgage Escrow Account is established to make payments for recurring fees while there is a loan on the house. Generally, the Escrow Account is partially funded at closing and the home buyer makes on-going contributions through their monthly mortgage payment.

This is a easy to understand guide about the escrow process. Your particular plan might be slightly different depending on your lender and your escrow holder.

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