Ask the REALTOR® is a regular video series in which I answer your most commonly-asked real estate questions, with a new Q&A posting every week. If YOU have a real estate question for me, drop me a note here.
This week’s question: What is this packet I just received from the title/escrow company? Here’s the answer in this brief video, and don’t miss the transcript below.
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Hi, this is Cari McGee with Keller Williams Realty. Welcome to this week’s episode of “Ask the Realtor.” Every week, I answer questions from buyers and sellers — and pretty much everyone in between — regarding real estate.
This week’s question is, “Cari, I just got this packet from…it looks like a title or an escrow company. What is that about?”
Well, when you have sold your home or are buying a new home and you’re in the escrow period, the escrow company will send you a packet of information which will include your title commitment and then also, it will request additional information from you. For example, if you are the seller and you have a mortgage on the property you’re selling, they will ask you for that pay-off information so that they can get that all squared away on the day of closing. If you’re a buyer, they’re going to ask things like what’s the best way to contact you and to make sure that they have all of that up-to-date and ready.
So don’t be alarmed when this big packet comes in the mail and it’s from an escrow company that doesn’t look familiar to you. It’s a legit thing and you just need to fill up that information, send it back in, or deliver it personally to the title company/escrow company and you will be good to go. I hope that answers your question.
Any questions you have for me regarding real estate, by all means, reach out via any one of the methods that follow on the next screen. Thanks so much. Bye.