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What is the Escrow Process?

The escrow process can be a complicated and often technical necessity of buying and selling real estate. Understanding the various duties and functions of the escrow can assist all parties in ensuring a successful and timely transaction. Additional escrow officer duties and responsibilities:

    • Receive and hold buyer’s funds in a non interest paying trust account during escrow.


    • Read and comply with all agreements as detailed in the Purchase Contract and Joint Escrow Instructions.


    • Follow mutually signed, written instructions agreed upon by buyer and seller during escrow.


    • Prepare Escrow Instructions, Grant Deed, Estimated Closing Statement and any documents required to clear title or required by the lender.


    • In some cases the escrow officer will obtain reports as required by the purchase contract and provide to the buyer for review.


    • Make sure escrow is in receipt of buyer and seller signatures required documents.


    • Receive loan documents from the buyer’s lender (IF APPLICABLE). Prepare amendments and estimated closing statements.


    • Order the evidence of insurance from the buyer insurance agent.


    • Send signed loan documents and all lender required items to the lender for funding.


    • Send original recordable documents and any releases required to clear title to the title company for recording at the close of escrow.


    • Make sure escrow is in receipt of all funds necessary to pay the seller proceeds during escrow.


    • Make sure the seller has sufficient equity in the property to cover all costs during escrow.


    • Make sure that all the proper paperwork is in escrow to provide the buyer with clear title to the property.


  • Make sure all conditions agreed upon by the buyer and seller on the purchase agreement have been satisfied prior to closing escrow.
  • Angela Fox Martin

    Angela Fox Martin
    CALBRE #00964448
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