Latest / The Assumable Guy Show
What Happens to the Seller's Escrow Account?
A lot of sellers assume their escrow balance just disappears into the deal when a buyer takes over their mortgage. It does not. That money is yours and every dollar comes back to you. Ryan breaks down exactly what escrow is, why the balance at closing can easily be $2,500 to $3,000 or more, and the two ways it gets returned after an assumption. One way puts the money in your hands at the closing table. The other mails you a check 30 to 45 days later to an address you might not live at anymore. He also covers why getting the buyer to reimburse your escrow at closing does not cost them an extra…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.