Home Property Search Appraisals Insurance Property Management Contact Us
412-422-7900 412-422-7900 Pittsburgh, Pennsylvania, Pittsburgh, how to choose a real estate agent, getting a real estate agent, picking a real estate agent, real estate professional, homeowner, home buyer, home sales, buying a house, buying a house in Pittsburgh, buying a house in Pittsburgh, buying a house in Pennsylvania, real estate agent in Pittsburgh, real estate agent in Pittsburgh, real estate agent in Pennsylvania, finding a real estate agent in Pittsburgh, finding a real estate agent in Pittsburgh, finding a real estate agent in Pennsylvania, buying houses, buying homes, selling homes, selling houses, Hanley Agency, Inc., things to look for when buying a home, how to buy a house, house hunting, home buying tip, home buying help, find a home to buy, home buying questions, home buying advice, home buying, home buying checklist, escrow, being in escrow, escrow agent, escrow fees, closing on a house, escrow companies
  • 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
  • Whether it's your first home or your next place, I'll advise you through the process. Contact me and I'll help you become a smart buyer.

    What To Expect When You're Closing in Pittsburgh

     Hanley Agency, Inc. can walk you through closing - 412-422-7900
    Escrow: An escrow agent is brought on to assure your house closes on time and the money exchanging part of closing goes smoothly. Escrow holders hold money for "safe-keeping" in transactions between a buyer and seller. For example, in a Web auction, PayPal is the reliable third party that obtains the buyer's cash, and then hands over the funds to the seller.

    The escrow agent is careful to assure that all terms and conditions of the seller's and buyer's agreement are completed prior to the sale being completed. This includes receiving payments and documents, filling out required forms, and seeking out the release documents for any loans or liens that were paid off with the transaction, assuring you have a clear title to your place before the negotiated price is fully paid.

    The pieces of paperwork the escrow holder may collect include:

    Upon completion of all portions of the escrow, closing can take place. All expenses like title insurance, inspections and real estate commissions are paid. Title to the home is then given to you as buyer and appropriate title insurance is issued as noted in the escrow policy.

    The escrow holder gets a payment at the completion of closing. I'll keep you up-to-date on the procedure.

    The Escrow Holder Will:

    • Prepare escrow guidelines
    • Perform a title inquiry
    • Meet the bank's standards as written 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 have been finished
    • Disburse funds and finalize instructions

    The Escrow Holder Will Not:

    • Tell you what's best - the escrow agent must maintain a neutral, third-party status
    • Dispense opinions about future tax estimations
    The Escrow Holder Will:
    The Escrow Holder Won't:
    • Write escrow instructions
    • Petition title search
    • Comply with lender's standards as noted 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
    • Obtain title insurance policy
    • Close escrow when all instructions of seller and buyer have been finished
    • Disburse payments and finalize instructions
    • Give advice - the escrow holder must stay at a fair, third-party status
    • Dispense opinions about tax implications

    Mortgage Escrow Account

    Creating a Mortgage Escrow Account helps keep track of on-going expenses while there's a loan on your house. Escrow Accounts are contributed to monthly by the home buyer (who is now the homeowner), but there is also a lump sum that goes into the account at closing.

    Once you have the ABCs of the escrow process down, you can be a informed buyer.

    Looking to Buy?

    Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

    Your Information
    Some Details