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Commonly Asked Questions about Home Purchase Legal Forms

Escrow companies and title companies are not the same; however, a title company can offer escrow services. When you are buying property, you need an escrow company to protect the earnest money you are investing in the process to show you are truly interested in purchasing the property.
Mortgage or Deed Of Trust A deed of trust doesnt. The mortgage or deed of trust legally securitizes your property as collateral for the mortgage. In other words, signing the document means youre agreeing to use your house as collateral.
The escrow company acts as a neutral third party to collect the required funds and documents involved in the closing process, including the initial earnest money check, the loan documents, and the signed deed.
The closing will be handled by an escrow agent who acts as the neutral third party that holds the legal documents and funds for the buyer, seller and, at times, a lender.
10 Documents Needed to Buy a House Personal identification documents: You will need to have a valid form of ID such as a drivers license or passport. Proof of income: Financial statements: Loan documents: Purchase agreement and related contracts: Property-related documents: Deed: Settlement statement: