Escrow Officer

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
    particular escrow.
► Record deeds and any other documents as instructed.
► Request issuance of the 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.