1. Explain the importance of having an Escrow Checklist?

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter4: Operating Activities: Sales And Cash Receipts
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Discussion Questions to answer for your initial post:
1. Explain the importance of having an Escrow Checklist?
2. What is an Escrow Settlement Sheet (AKA HUD1 or Closing Document)? What is its role in an Escrow Transaction?
3. When and for what purpose would an Escrow Officer order a Request for Full Reconveyance?
4. Why is it advisable, and the Lender will require as a condition of funding, the Buyer to obtain a Policy of Fire Insurance? What typically does a
Insurance cover against, and what two important items does a standard Fire Policy not cover?
Transcribed Image Text:Discussion Questions to answer for your initial post: 1. Explain the importance of having an Escrow Checklist? 2. What is an Escrow Settlement Sheet (AKA HUD1 or Closing Document)? What is its role in an Escrow Transaction? 3. When and for what purpose would an Escrow Officer order a Request for Full Reconveyance? 4. Why is it advisable, and the Lender will require as a condition of funding, the Buyer to obtain a Policy of Fire Insurance? What typically does a Insurance cover against, and what two important items does a standard Fire Policy not cover?
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