How Real Estate Escrow Works
In the home-buying process, a real estate escrow account keeps sensitive paperwork safe and secure until the home officially transacts from the seller to the buyer. Some of the sensitive items held in the escrow account include the earnest money check, the funds, instructions, and paperwork necessary for a pending real estate sale. Contained in these documents are funds for the downpayment, sales contracts, inspection riders, and the deed to the home.
An escrow operates with four main principles: the buyer, seller, lender, and borrower. Typically, the buyer’s and seller’s real estate agents and the bank will cause escrow instructions to be created, signed, and delivered to the escrow officer. Following these guidelines, the escrow officer, usually a title company employee or lawyer, will process the escrow. While the escrow officer monitors the escrow account, the buyer and seller work out the details of the transaction. When all conditions required in the escrow are met, the escrow will “close” and the transaction officially takes place.
Experience Unmatched Expertise in Real Estate Transactions
Our firm comprises a group of highly experienced and knowledgeable escrow professionals, boasting a remarkable track record of fifteen years in the industry. Our team prioritize delivering exceptional service to our valued clients. Choose us for secure and seamless real estate transactions, where your satisfaction is our utmost priority.