Author: MMP

Escrow holdback for repairs is an amount of money withheld from the seller’s proceeds to cover necessary repairs. In this arrangement, funds are set aside in a secure account until the repairs are completed. In real estate transactions, escrow holdback for repairs is a common practice where a portion of the seller’s funds is retained… Continue reading Escrow Holdback for Repairs

To fix negative escrow, contact your lender to determine the reason and provide any necessary documents to resolve the issue promptly. Escrow accounts streamline the management of property-related expenses, including taxes and insurance. However, negative escrow can occur if the amount held in the account is insufficient to cover these costs. This situation may arise… Continue reading How to Fix Negative Escrow?

An escrow refund is a return of funds held in an escrow account to the party who initially deposited the money. An escrow refund occurs when the terms of the escrow agreement are fulfilled, and the funds are no longer needed. It provides a way to protect both the buyer and the seller in a… Continue reading Escrow Refund

Escrow and title companies have different roles and functions in a real estate transaction. Escrow companies hold and protect funds during the transaction, while title companies ensure the ownership rights and history of the property. They work together to ensure a smooth and secure transfer of property. Understanding The Basics Escrow and title companies play… Continue reading Escrow Vs Title Company