What Exactly Is Escrow?
So, what is escrow, exactly?
Escrow is an arrangement in which a neutral third party holds onto funds and key documents involved in a home sale, and then distributes them according to the agreement between the buyers and sellers. The escrow period begins when a seller accepts a buyer's offer, and ends at the closing table. At Remax, we perform Escrow in house rather than hiring a 3rd party. Have your earnest deposit money in an easily accessible account when home shopping. This will enable you to move fast on an offer if you find your perfect place. Purchasing a house isn't like buying shoes; there's a lot of money involved, a lot of steps to manage, and a lot at stake. So the buyers and sellers don't exchange money and documents directly with one another. They do it through the escrow account. Escrow ensures accountability. Buyers want to be sure all contingencies are met (inspection, title report, secured mortgage, etc.) before the sellers cash any checks. Sellers want to make sure they receive funds before they hand over the deed. What happens during escrow? An escrow account opens up when buyers put down earnest money to show the sellers that they’re serious about buying the home. A Remax Settlement/closing agent handles all the escrow work with help from the agents. An escrow officer, or settlement agent, does the following:
• Processes and facilitates the flow of documents and funds.
• Keeps all parties informed of progress.
• Responds to the lender's requirements.
• Secures a title insurance policy (if necessary).
• Obtains approval of reports and documents from all parties.
• Prorates and adjusts insurance, taxes, rents, fees, etc.
• Records the deed and loan documents.
• Keeps track of and holds onto money owed and money deposited.
Escrow closes when all the tasks, documents and funds are performed or secured by the escrow officer.
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Local Expert Updates
Greg Sheeler
Cell: 712.330.1573
Janie Eick
Cell: 712.339.0574
Will Kretsinger
Cell: 712.301.4040
Brooke Jones
Cell: 641.420.2172Community Updates
Treasure Village
Since 1973 Treasure Village has provided great family friendly entertainment, including a mini golf course, live children's theatre and gospel concerts for all ages to enjoy. They also offer Flea Markets throughout the year and already have 3 of them scheduled for 2017, make sure to check them out memorial weekend, 4th of July, and Labor Day weekend. If you would like to check it, follow the link to their website for coupons.
O'Farrell Sisters
The O'Farrell Sister is a historic Okoboji Tradition that one must check out for breakfast and lunch!
'Farrell Sisters History
The O'Farrell Sisters restaurant was born in 1949 at the bridge on Hwy 71, between East and West Lake Okoboji. Edna Mae and Arlene O'Farrell bought the business from Ike Kissinger who was running for Sheriff of Dickinson County.
In the early years the girls were open seven days a week and had a booming business in no time. The fried chicken dinners on Sunday evenings were especially popular. There were times when the line waiting to get in was so long they'd have to lock the door and would often run out of chicken!
In 1959 Arlene married and moved to Tallahassee, Florida with her husband Furman Henderson. Edna Mae and Ferne continued in the restaurant, moving to its present location that same year. This spot had a garden and chicken coup, which was moved to the house across the street.
Ferne died in 1974 and Edna Mae in 1978. Arlene sold the business to nieces Joyce Gapinski, Jo Ann Anderson, Charlotte Sarvie and Cheri Petersen (these are married names). The nieces successfully ran the restaurant from 1979 through 2003. After losing Jo Ann in 1997 and Cheri in 2002, Joyce and Charlotte decided to sell after the 2003 season.
The rest is to be continued...
Big Acai Bowls Okoboji
For Okoboji's superfood Big Acai Bowl Okoboji, located in the Central Emporium is a perfect spot for a healthy breakfast or a snack. Acai (pronounced ah-sah-hee) is a berry extract from acai palm tree found in the rainforests of Central and South America. The acai berries have a slightly sweet favor often compared too blueberries paired with very dark chocolate. This is a must stop for a healthy treat for the whole family that has many health benefits including healthy fats, fiber, magnesium, calcium with very low natural sugar. This natural food is a must try!