Escrow is a service which provides the public with a means of protection in the handling of funds and/or documents. Escrow enables the buyer and the seller to transact business with each other through a neutral party, thereby minimizing their risk. In the escrow, all parties involved give their instructions to this neutral intermediary, the "escrow holder, " whose duty it is to assure that no funds or property will change hands until all instructions have been carried to completion.

 

	Serve as the communications link to all parties in the transaction.
	Prepare escrow instructions.
	Request a preliminary title search to determine the present condition of title to the property.
	Comply with the lender's requirements, specified in the escrow agreement.
	Prepare or secure the deed or other documents related to escrow.
	Prorate taxes, interest, insurance and rents according to instructions.
	Receive purchase funds from the buyer.
	Record deeds and other documents as instructed.
	Request issuance of title insurance policy.
	Close escrow when all of the instructions of buyer and seller have been carried out.
	Disburse funds as authorized by instructions, including charges for title insurance, recording fees, real estate commissions and loan payoffs.
	Prepare final statements for the parties accounting for the disposition of all funds deposited in escrow.