Woodhill Homes Blog

From the “What is Escrow” series provided by Lori Tubbs, Chicago Title Insurance Company of Oregon.

How do the parties benefit from an escrow?
Both parties are assured that the transaction will be properly and promptly closed. Theseller will see that title will not pass to the buyer until the purchase price is fully paid, or the seller’s provision as to security for unpaid balances is fulfilled. If the seller intends to use part of the purchase price to satisfy liens, the escrow provides a satisfactory arrangement for paying off the lien holder. The buyer is assured that the funds will not be paid to the seller until the transaction is properly completed. If the buyer needs to use the land as security for a loan to pay part of the purchase price, the escrow guarantees the lender that title is exactly as required, and provides a safe method for delivery of loan proceeds or security documents.

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From the “What is Escrow” series provided by Lori Tubbs, Chicago Title Insurance Company of Oregon.

What service does an escrow agent perform?
An escrow agent prepares the necessary instructions from the buyer and seller and receives the necessary documents and funds. They prorate rent, taxes, interest on liens to be assumed, and obtain endorsements of existing fire insurance policies. Escrow agents also clear drafts deposited by the purchaser, obtain title insurance for protection of the buyer, and pay liens and costs authorized by the parties. They are responsible for the recording of all legal documents and disbursement of funds at the closing of the transaction, as well as, furnishing each party a closing statement showing the disposition of funds.

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From the “What is Escrow” series provided by Lori Tubbs, Chicago Title Insurance Company of Oregon.

Why use an escrow?
Escrow provides a mechanism to assure safety and convenience in carrying out the provisions of the earnest money agreement or contract. It also assures that the strict body of rules for real property transactions is carefully observed. An escrow placed with Chicago Title Insurance Company provides:

• A financially responsible and neutral third party who holds the funds and documents and makes concurrent delivery of the deed to the buyer and purchase money to the seller at the moment when the terms and conditions of the transaction have been performed.

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Bend, Oregon is a beautiful place. Heck, that’s why Woodhill Homes loves to sell homes in the Bend area. Nowhere in Oregon or even the Pacific Northwest can rival Central Oregon’s beauty.

So when we heard that the new 2008 Bend Calendars were available, we had to share this news to all of you. This calendar seems to capture many of Bend’s beautiful landscapes. It looks like participating retailers include Bend-area Fred Meyers, Bachelor Ski & Sport Shop, Paper Place and many other fine Bend retailers.

Popularity: 2% [?]

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Ah the holidays: snow, good food, family… and most likely some Christmas spirits. If you’re planning on going to a Central Oregon holiday party or even hosting your own holiday party in a new Bend or Redmond home, why not support Bend’s local small-bath distillery Bendistillery. From the website:

Bendistillery is among the oldest small-batch distilleries. Since 1996 we have been reviving the tradition of premium handcrafted American distilled spirits. Located in the high desert of the Pacific Northwest we use only the freshest natural ingredients and pure Cascade Mountain water to create our gins and vodkas.

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