What Exactly Is Escrow?
So, what is escrow, exactly?
Escrow is an arrangement in which a neutral third party holds onto funds and key documents involved in a home sale, and then distributes them according to the agreement between the buyers and sellers. The escrow period begins when a seller accepts a buyer's offer, and ends at the closing table. At Remax, we perform Escrow in house rather than hiring a 3rd party. Have your earnest deposit money in an easily accessible account when home shopping. This will enable you to move fast on an offer if you find your perfect place. Purchasing a house isn't like buying shoes; there's a lot of money involved, a lot of steps to manage, and a lot at stake. So the buyers and sellers don't exchange money and documents directly with one another. They do it through the escrow account. Escrow ensures accountability. Buyers want to be sure all contingencies are met (inspection, title report, secured mortgage, etc.) before the sellers cash any checks. Sellers want to make sure they receive funds before they hand over the deed. What happens during escrow? An escrow account opens up when buyers put down earnest money to show the sellers that they’re serious about buying the home. A Remax Settlement/closing agent handles all the escrow work with help from the agents. An escrow officer, or settlement agent, does the following:
• Processes and facilitates the flow of documents and funds.
• Keeps all parties informed of progress.
• Responds to the lender's requirements.
• Secures a title insurance policy (if necessary).
• Obtains approval of reports and documents from all parties.
• Prorates and adjusts insurance, taxes, rents, fees, etc.
• Records the deed and loan documents.
• Keeps track of and holds onto money owed and money deposited.
Escrow closes when all the tasks, documents and funds are performed or secured by the escrow officer.
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Greg Sheeler
Cell: 712.330.1573
Brooke Jones
Cell: 641.420.2172
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Liz Sandy
Cell: 712.330.1386Community Updates
Mill Creek Restaurant & Lounge
Mill Creek is located on the NE corner of Okoboji Ave (Hwy 71) and 9th Street in Milford. Dine in or carry out. There's something for everybody--daily and nightly specials, too! The staff is friendly and the atmosphere relaxing. Great burgers, sandwiches, pizza and appetizers. A couple of my faves are the Fried Pickle Chips and the Kentucky Bourbon Sandwich. Hours are Monday-Saturday, 11 AM - 11 PM (grill open til 10 PM) and Sunday from 5 PM - 9 PM. Have a party in the events room with family and friends. Games for the kids, too!
The Ritz
I grew up watching Cheers, if you want that same vibe at the lake, hit The Ritz just south of the bridge. Let alone, Taylor and her staff are the salt of the earth kind of people, the food is amazing! You can tell that a lot of thought has gone into the presentation and you can taste the love in the recipes. Did I mention, they know how to mix a good cocktail as well…..Okoboji style for those who know what I mean! Cold beers, huge glasses of wine, fun kids desserts and the famous Ritz fish bowl. You gotta try it!
Okoboji View Golf Course
Okoboji View is a public 18-hole golf course with membership availability. It is a beautiful golf course with an emphasis on nature and offers many challenges with fast greens, beautiful water features, tree lined fairways and rolling hills.
The newly remodeled restaurant and bar - renamed Pub19 Bar & Grill in 2015 - is full service and you can enjoy drinks and dining on the large new deck overlooking the golf course.
Whether you need a golf lesson or a professional club-fitting, or if you need to schedule your corporate golf outing, wedding rehearsal dinner/reception or class reunion, or just want to enjoy playing at one of the best courses in Northwest Iowa - Okoboji View Golf Course, a family run facility, is for you.