Why use the services of an Escrow Company?
Escrow companies provide an experienced professional service regulated by law to protect the interest of both the buyer and the seller. An escrow is the process of closing a real estate sale in which a licensed third party prepares the documents and handles the closing between buyer and seller. For the protection of buyer and seller, all funds are required to be held in a special secure trust account until closing, at which time the escrow officer disburses funds according to identical escrow instructions signed by buyer and seller. The third party handling the sale must be licensed to do so, such as a licensed real estate broker or escrow company. In the western United States, the majority of closings are handled by real estate brokers, escrow or title companies. In the eastern United States it is more common for attorneys to also be involved than it is in the western United States.
