Why can’t a real estate company act as the escrow agent?
It can and often has done so in the past. Many details, such as paying taxes, requesting loan information, reviewing documents, preparing financial statements, however, are time consuming and take time away from the main purpose of most real estate companies; that of marketing and selling property. Generally, however, the real estate company represents the buyer, the seller, or both. It has a financial interest in collecting a sales commission and even the most professional agents recognize they can sometimes be less objective than an escrow company. Sophisticated buyers and sellers also realize this and often feel more comfortable having the neutral third party act as “stakeholder”. # # # # # # # # # In response to the tremendous need for a neutral and independent third party who could process these transfers efficiently and economically, Mexico’s first escrow company, the Settlement Company was established in 1991.It has established policies and procedures as guidelines, and follows
