can funds placed in escrow (in a real estate deal) set as securities for a loan?
354221
Yes, it will show as part of your assets, then at close of escrow the earnest money will show as a credit towards your down payment.
1172957
What is an Escrow? \n--------------------------------------------------------------------------------\nAn escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a specific condition or event. It is an independent neutral account by which the interests of all parties to the transaction are protected. \n\nWhen opening an escrow, the buyer and seller of a piece of property establish terms and conditions for the transfer of ownership of that property. These terms and conditions are given to a third, impartial party known as the escrow holder. The escrow holder has the responsibility of seeing that the terms are carried out. \n\nThe escrow is a "storehouse" for all monies, instructions and documents necessary for the sale of your home. This includes the buyer providing funds for a down payment, and the seller depositing the deed and any other necessary papers. \n\nWhy Do I Need an Escrow? \nAn escrow will provide you with a guarantee that no funds or property will change hands until ALL of the terms and conditions have been followed. The escrow holder has the responsibility to watch over the funds and/or documents and then pay out the funds and/or transfer the title only when all requirements of the escrow have been completed. \n\nHow does the Escrow Process Work?\nThe buyer, seller, lender and/or borrower cause escrow instructions to be created, signed and delivered to the escrow officer. The escrow officer will then process the escrow, in accordance with the escrow instructions. When all conditions required in the escrow are met, the escrow is "closed". \n\nPrior to close of escrow, the buyer deposits the funds required with the escrow holder. The buyer instructs the escrow holder to release the money to the seller when: \nThe deed records \nA policy of title insurance will be prepared and delivered to the buyer \nThe escrow holder acts for both parties and protects the interests of each within the power of the escrow instructions. Escrow cannot be completed until the instructions have been fully satisfied and all parties have signed escrow documents. The escrow holder takes instructions based on the terms of the purchase agreement and the lender's requirements.\n\nThe duties of the escrow holder include: \nManaging the funds and/or documents in accordance with instructions \nPaying all bills as authorized \nResponding to requests from the principals \nClosing the escrow only when all terms and conditions have been met \nDistributing the funds accordingly \nHow Do I Open an Escrow?\nGenerally, the buyer or seller's real estate agent will open the escrow. As soon as you complete the purchase agreement, the agent will place the buyer's initial deposit, if any, into the escrow account at a title company or into the real estate broker's account. \n\nWhat Do I Need to Do Before My Appointment to Sign Escrow Papers? \nAll parties signing the documents must bring proper identification. Bring either a valid driver's license, state identification card or current passport with you to the title company. This item is needed to verify your identity by a notary public. This is a routine, but necessary step for your protection. \n\nWhat's the Next Step After I've Signed the Closing Escrow Papers? \nAfter both parties have signed all the necessary instructions and documents, the escrow officer will return the buyer's loan documents to the lender for final review. After the review is completed, the lender is ready to fund the buyer's loan and informs the escrow officer. \n\nHow Long is an Escrow? \nThe length is determined by the terms of the purchase agreement and can range from a few days to several months. \n\nWhat is an "Escrow Closing"? \nAn escrow closing is the climax of the transaction. It signifies legal transfer of title from the seller to the buyer. Generally, the Grant Deed is recorded within one workin
61331
Escrow is simply the use of a third party to hold possession of money, property, etc. until the deal can be completed by both sides.  \n\nEscrow also refers to the actual property or money given to the third party.
1115066
You have to be very careful when you have taxes and insurance in escrow. Taxes has to be paid. Contact someone in the customer service depart to see if they can help. Also, maybe they can give you an extension on your loan. Good luck. Credit history is very important.
980002
Of course.  It does depend on if the REIT company will accept and facilitate a 1031 exchange.  It must also be real estate that is exchanged and not a structure or a business that sits on the property.  If you want more info, please let me know.
862176
I'm building oceanfront condominiums in the Bahamas.  My buyers must either borrow from Bahamian banks or refinance U.S. real estate to raise the cash.  U.S. banks are not able to make loans secured by Bahamian real estate.
735798
There are plenty of places around the country where the Real Estate Market is actually shrinking -- meaning that the value that you pay today for the residence in another 3-4 months can be thousands of dollars less.\n\nGiven this, and the fact that a Interest-Only Home Loan is just that -- Interest Only (which means that you are basically renting the residence -- but realize this -- YOU WILL have to pay for Insurance and Taxes in Escrow Account too -- which will ADD to the final payment each month!) -- and that can be dangerous to you financially  for ...\n\nWhat if the trend of the Housing Market to 'correct' itself for these overvaluations continues?  What happens if you need to sell the residence, and given that you have ZERO Equity in the property -- how are you going to absorb a loss that may be in the thousands of dollars?
1011159
Yes, the seller is responsible.  If the amount hasn't been determined yet, and if you really want this condo, then you should have your closing agent hold back $25,000 of the sale proceeds in escrow.  Once the final amount is established the closing agent can use those funds to pay off the assessment and return any remaining balance to the seller.\n\nIf the seller isn't willing to go for this then if I were in your position I would walk away and sue them for the return of the deposit.
809798
I'm a CPA.  An escrow account is an account where a third party accumulates money for the ultimate benefit of somebody else.  The most common application is where a home lender accumulates enough money in a special account to pay the borrower's property taxes and home-owner's insurance.  Most lenders require this until you get below owing 80% of the value of the house.\n\nA trust account is typically invested in the stock and bond markets where a fiduciary watches the market and has an obligation to manage the cash and other investments in a manner that is in the best interests of the account owner.
556408
You can set up any sort of agreement with the buyer that you and the buyer agree to.\n\nIt is, in fact, fairly common to have a provision that the seller will remain in possession until the happening of a certain event (such as close of escrow on the property the seller is buying) or a date certain.  It is a subject for negotiation whether the seller will or will not pay rent or reduce the final price of the property for the time the seller remains. \n\nIf you know that you will be moving to Malaysia on a certain date, just include in your instructions to your broker and make sure escrow instructions include that you will remain in possession of the property, and/or title will not change hands, until a specific date.  Just in case there are unexpected glitches, I'd make that date at least two weeks after you plan to be gone; you can always tell the buyer he/she/they can move in earlier.
954898
Escrow is simply a holding company that acts as intermediary between you and the lender.  You pay escrow fees when you close a mortgage deal, and they can put aside an account for you to pay taxes and insurance, known as impounds.\n\nBut paying principal refers to paying off equity in your home.  This is ideally what you strive to do as a homeowner.  Once you pay off all the principal, the home is yours, free and clear.  You own it!\n\nYou can also pay interest-only, which means you're only paying the interest, and gaining no principal, or ownership in your home.\n\nIt's great to pay off more principal if you can...it gets you that much closer to owning your home.  If that is your desire.  Some people don't care about ownership, and prefer to leverage their money elsewhere, such as in other investments.  These people just pay off the interest, or even less than interest with negative amortization loans.\n\nEducate yourself about credit, finance, and mortgage at:\n\nhttp://www.thetruthaboutmortgage.com
588477
There are multiple ways of obtaining that. Not sure if your making a comment or asking a question. Private money will be expensive, however if your investment property generates enough money to off set those costs, then they can help in the short term.
32877
Well, it really depends on the lender.  They should have locked your rate as soon as they recieved your paperwork, but different offices operate under different methods.  It could be possible your loan officer is holding out for a better rate (and hopefully not holding out for your rate to come BACK).\n\nI would recommend calling your loan officer and getting an update.  When you're within 12 days of close of escrow, you've earned the right to ask questions.  =)\n\nI certainly wouldn't panic, but you should ask him/her for a timetable (different states use different methods for loan doc signing/closing).  It's always best not to toe the line when it comes to closing dates, because things only seem to go wrong when you're low on time.  =)
1163016
If you want to play games with your financial future, which is what you are proposing here, at minimum a course in math/ financial calculations could help.  A meeting with your banker could help you understand the current rates if any that they could offer to you for your proposed project, and what conditions would be imposed on such a loan.\n\nNo, it does not sound to me as if this is an advisable plan.  It seems that basic business knowledge is missing. This can cause severe problems for the plan.
724996
If the seller has not responded to the offer, then it would be considered to be refused. Basically, if you haven't heard back from the seller, then he/she has not accepted your offer. If you put up Earnest Money (usually with an escrow company or real estate agent), then you're entitled to get that back.
1085331
Its this a loan or investment agreement?
454444
How much money are you talking about? If you paid for the taxes a year in advance, then the borrower should of reimbursed you at the time of closing. If you escrowed your taxes then you should get a check back for the balance remaining on your escrows from the company holding your money.\nIf your talking about a sum of money that would match the cost of an attorney representing you at the closing, I would call it a wash and move forward. If the funds are more than that, you can always go to small claims court and file a suite again the new owners. If you win the case and they fail to pay you your money, you can then request for a judgment lien to be placed on their property.\n\nHope it works out for you.