What Is Escrow?
Escrow is a neutral third party that acts on behalf of the buyer and seller. Escrow compiles and processes all the elements of a real estate transaction. We prepare documents, make sure the title is clear of any unacceptable defects or claims, exchange funds, process payoffs, and record documents. This includes responding to lender requirements, obtaining approvals of reports and documents as required in the contract, and prorating insurance, taxes and rents. During the process, we keep all parties informed of the transaction’s progress. We also facilitate the signing of all documents by the related parties. The purchase is officially closed when the new deed is recorded with the county. Ownership is then considered transferred from the seller to the buyer.
Escrow strives to make the process as smooth and easy as possible. Our job is to communicate clearly and effectively with all parties involved. By eliminating the guesswork from the transaction, we make the entire process pleasant and error free.