The escrow officer does .
► Serve as the communication link to all
parties in the transaction.
► Prepare escrow instructions.
► Request a preliminary title search to
determine the basis upon which a title
insurance policy may be issued.
► Request a beneficiary's statement or
pay-off demand relating to existing financing.
► Comply with lender's requirements,
specified in escrow agreement.
► Receive purchase funds from the buyer.
► Prepare or secure the deed or other
documents related to escrow.
► Prorate taxes, interest, insurance and
rents according to instructions.
► Secure releases of all contingencies
or other conditions as imposed on any
► Record deeds and any other documents
► Request issuance of the title
► 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.