A neutral third party holds documents and money for a real estate transaction and ensures that all conditions of a sale are met. Also refers to a special account that a lender uses to hold a borrower's monthly payments on property taxes and insurance. A lot has to happen in the weeks before you close. It's escrow's job to stay on top of the details so you can close on time.

Closing Costs

Closing costs vary dramatically depending on whether you are a Buyer or Seller, and the type of financing used. Some costs normally associated with Buying can be paid by a Seller and most closing costs are negotiable. Sales commissions differ depending on property type and conditions. The benefits & advantages of a Good Real Estate Broker far exceed the costs as they almost always get you a better deal and protect your interests.

Average closing cost for a Seller run 5-7% of the total sale price and for a Buyer average 1-2% of the sale price. Sellers costs are usually subtracted from their gross proceeds at the close of escrow. Buyers closing costs are usually in addition to the money earmarked for the down payment.

At Mark and Al's office we know the "ins and outs" and how to save you from making any unnecessary mistakes or expenditures. There are many creative ways to avoid or amortize these costs over the life of a loan. Contact us for details.

Develop a Schedule Create a Closing Plan to complete tasks on time.

Everyone involved in your transaction must perform dozens of tasks before you can close on your home. The Mark and Al Team will create a "Closing Plan," to manage the work and keep the process on track.

Your Closing Plan

Get ahead by organizing the tasks required for closing. Complete remaining tasks and make final arrangements. Certain responsibilities remain yours however the Mark and Al Team have the experience needed to get you where you want to be in the time wanted to be there!