Who are the parties in an escrow closing?
Who are the parties in an escrow closing? In general, the buyers, sellers and lenders are parties to the escrow. The brokers and agents are not parties to the escrow agreement, just as they are not parties to the sales contract. Since Realtors® have a fiduciary duty to their client, they have a strong interest in making sure that the transaction is completed in a manner that is in the best interest of their client. As you will see in the following information, the closing agent in a typical round table closing does not have a written contractual duty to either the buyer or the seller (unless someone buys an owners title insurance policy). In an escrow closing, the closing agent is a contractually defined fiduciary to both the buyer and the seller.
