Jackson Hole Title & Escrow
The Real Estate sale of a property in Jackson Hole, such as a home, condominium or vacant open land involves the transfer of large sums of money in most cases. The handling and transfer of funds and Real Estate Contacts including related documents from one party to another must be handled in a professional manner. Using a good Jackson Hole Title and Escrow Company is in the best interest of buyer, seller, lender, and the Jackson Hole Real Estate Broker selling the property.
As a buyer or seller, you want to be certain all due diligence matters of the transaction have been met before property and money change hands. An escrow is a safe harbor where one party engages in the sale, transfer or lease of real or personal property with a buyer, who delivers a written contract, money or other items of value to a neutral third person, called a Jackson Hole Escrow Agent or Title Company. In the past Jackson Hole Lawyers handled these transfers and even some Jackson Hole Real Estate Brokers handled these closings. The Jackson Hole Real Estate Company only uses local Title Companies in the area to handle all money and closings.
Our Title Companies impartially carry out the written instructions given by the buyers and sellers according to the terms and conditions of the Jackson Hole Real Estate contract. The State of Wyoming requires all Real Estate sales to be in writing if a Realtor is involved. The standard contract includes principals involved, earnest monies and related terms directing the dates of due diligence and closing. The Title company will most always comply with contract instructions.
Our Jackson Hole Title Companies then provide all parties with necessary information to close the transaction. This usually includes loan documents, tax statements, fire and other insurance policies, title insurance policies, terms of sale and or any seller-assisted financing, and requests for payment for any services or liens to be paid out of escrow funds.
If a sale of property involves new financing, the buyer is responsibility to make the necessary arrangements with a lending institution. Most loans are performed through local Jackson Hole Banks and mortgage brokers. Documentation of any new loan must be provided to the escrow agent before the transfer of property can take place.
When all the instructions in the escrow and fulfillment of the Real Estate contract have been satisfied, the closing can be performed. Buyers and sellers do not necessarily have to be at closing if all documents are executed and funds are in place. The Title Company prorates all homeowner dues, taxes and assessments if any and that is debited or credited to each party. Other fees usually include Realtor Commissions. All mortgages recorded against the property are paid in full to the date of closing.
