Augusta
VIP Contributor
Escrow agent in the real estate is a person or third party that is involved in a property transactions between the buyer and the seller. The escrow agent is the go-between man that holds the funds or other resources of a property transactions in real estate transactions. So what are the needs of having a escrow agent in real estate
Custodian of the money for a real estate purchase
This is the first need of an escrow in the real estate. There should be a neutral person keeping the purchasing funds till the completion of the transaction before a transfer to the buyer
Protector of both the buyer and seller in property selling transactions
The escrow agent protects both parties in a property selling transactions. The escrow keeps the purchasing money which makes the seller have trust to transact with the buyer
Issuing of title insurance policy on purchased property
The Escrow agent will be responsible of issuing a title insurance policy of a bought property to the buyer
Custodian of the money for a real estate purchase
This is the first need of an escrow in the real estate. There should be a neutral person keeping the purchasing funds till the completion of the transaction before a transfer to the buyer
Protector of both the buyer and seller in property selling transactions
The escrow agent protects both parties in a property selling transactions. The escrow keeps the purchasing money which makes the seller have trust to transact with the buyer
Issuing of title insurance policy on purchased property
The Escrow agent will be responsible of issuing a title insurance policy of a bought property to the buyer
