What happens to money in escrow?

Discussion in 'Purchasing DVC' started by greatwhite24, Apr 9, 2012.

  1. greatwhite24

    greatwhite24 Earning My Ears

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    I just got my closing papers in. I had a deposit of $1,000.00. They are requesting a cashiers check for the full amount owed. Now what happens to the original deposit put in escrow? Do they mail it back to me and how long does it take?
     
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  3. nalajms

    nalajms DIS Veteran

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    Your cashier's check should be the full amount minus the $1,000.00 in escrow. Double check your contract. It should state the remaining amount due at closing.
     
  4. greatwhite24

    greatwhite24 Earning My Ears

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    I checked it. They want the full amount. It states there is a $1,000 deposit but it is still for the full amount. I went through Fidelity and its First American Title. Calls were made into both of them, I'm waiting for a call back.
     
  5. Missyrose

    Missyrose DIS Veteran

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    I used Fidelity and First American Title and I sent the cashier's check for the remaining balance for my contract AFTER the $500 deposit.
     

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