An escrow account consists of funds and legal documents comprising the sale of a home or other real estate property. Escrow account holders should be professional services that manage escrow materials until the seller and buyer instruct the service on what to do with the escrow.
Parties involved in the purchasing and selling of real estate benefit from having an escrow account because:
- Disbursement of funds can be restricted until the buyer is satisfied and specific prerequisites are fulfilled
- Alternately, the seller can request the escrow holder retain the deed until his or her own prerequisites are fulfilled
- With an escrow account safely in the hands of someone trustworthy, both the seller and buyer can progess through the stages of real estate transfer by conveniently depositing inspection reports, legal documents, loan committments and other pertinent data needed to complete a sale.
- When sellers and buyers provide the escrow holder with detailed and clearly written instructions regarding their mutually consistent expectations, the escrow holder is able to perform important but tedious actions without having to stop and consult with either party. This expedites and facilitates the completion of the transaction and greatly reduces the potential for miscommunication and delays.
South Bay residents who need a professional escrow service will find that Brighton Escrow is one of the most respected and reputable escrow services in the area, providing your escrow demands when you need them the most.
