Escrow and Settlement
For example, you are going
to need an escrow or settlement company to act as an "independent third
party" between you and the seller. Without having a third party involved,
how do you know that when you fork over the money, you are going to get the
deed? This is the type of service provided by escrow and settlement. They will
hold your deposit and coordinate much of the activity that goes on during the
escrow period.
Since this third party is
very important to both you and the seller and both of you will pay fees to this
company, it is important to agree on which service to use. Therefore, your
choice should be part of the offer. Since you do not buy a home every other
week or so, you are probably unfamiliar with companies that provide this
service. Your agent will make a recommendation. You have the authority to
accept this recommendation and include it in your offer, or make your own
choice. Pinehurst Luxury homes for sale on the water .
Keep in mind that the
seller will also have a preference and this may be a point of negotiation in a
counter-offer. It has become customary that one side will choose the
escrow/settlement agent and one side chooses the title insurance company. Even
so, everything in real estate is negotiable.
This site was developed to
provide information on Pinehurst real estate including Pinehurst Golf
and Waterfront homes, Pinehurst condos, and Pinehurst and Southern Pines
Commercial real estate.
Sotheby's International Realty
Dale
Heck – Realtor/Broker
910-528-4652
