Real Estate Escrow Packet

REAL ESTATE ESCROW PACKET

Escrow Holder Information

Property Identification

Parties and Transaction Summary

Purchase Price: $    Earnest Money Deposit: $

Deposit Held By:    Deposit Due Date:

Financing Type: Cash Conventional FHA VA Other:

Loan Amount (if any): $

Key Dates

Escrow Opened On:    Inspection Period Expires:

Closing Date:    Possession Date:

Escrow Instructions; Authority; Conditions

Escrow Agent shall act as a neutral escrowee and shall follow the written instructions of the parties set forth herein and any separate, signed escrow instructions. Escrow shall not be obligated to determine the legal sufficiency of documents delivered to escrow. Escrow Agent may rely upon any instrument or document reasonably believed to be genuine.

Conditions to Closing: Delivery of good and marketable title as evidenced by a preliminary title report and required endorsements; receipt of cleared funds for all purchase monies; satisfaction of any loan conditions; receipt of executed closing documents. The parties authorize Escrow Agent to deliver documents for recording and to disburse funds only upon mutual written instructions or upon satisfaction of the conditions set forth in this packet.

Disclosures Checklist

Lead-Based Paint Known? Yes No

Mold or Water Intrusion Known? Yes No

Material Structural Damage or Repairs? Yes No

Homeowners Association (HOA) Exists? Yes No If yes, HOA Documents Provided? Yes No

Property in Flood Zone? Yes No

Documents to Be Delivered to Escrow

Deliver to Escrow (check when included): Purchase Agreement Preliminary Title Report Seller's Deed HOA Documents Seller Payoff Statements Lender Instructions Copies of ID

Estimated Closing Statement

Escrow Fee: $    Title/Insurance Fee: $

Prorated Taxes: $    Seller Credit: $

Wire Transfer Instructions (If Applicable)

Certifications; Authorizations

By signing below, Buyer and Seller each certify under penalty of perjury that the information provided in this Escrow Packet is true and correct to the best of their knowledge. Each party authorizes Escrow Agent to obtain payoff statements, communicate with lenders and HOA representatives, and to rely upon document copies, facsimile or electronic signatures and instructions unless otherwise directed in writing.

Each party agrees to indemnify and hold harmless Escrow Agent from liability arising from actions taken in good faith in reliance upon these instructions and the documents provided. Escrow Agent's sole duty is to act as escrowee; Escrow Agent is not responsible for enforcement of contractual rights between Buyer and Seller unless expressly instructed.

Acknowledgment of Funds: Buyer and Seller acknowledge that cleared funds are required for disbursement. Wire fraud precautions should be observed. Escrow Agent shall not be liable for wire transfers initiated pursuant to written instructions if such instructions reasonably appear to be valid.

Default; Remedies; Governing Law

In the event of default by a party, the non-defaulting party may seek specific performance, monetary damages, or other remedies as permitted by law. Escrow Agent may, at its option, interplead disputed funds into a court of competent jurisdiction. Costs of escrow, recording, and reasonable attorney's fees shall be borne by the party as provided in the Purchase Agreement or as ordered by a court.

This Escrow Packet and any escrow instructions contained herein shall be governed by the substantive laws of the state in which the Property is located. This packet, together with the Purchase Agreement and any separately signed escrow instructions, constitutes the entire agreement regarding escrow matters between the parties and supersedes prior escrow communications.

Identity Verification

Each signer shall provide government-issued photo identification to Escrow Agent. Government ID Presented: Type Number

Additional Notes

Sign Now