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Real estate
The essence of escrow Agent in real estate
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[QUOTE="Augusta, post: 291731, member: 25283"] 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 [B]Custodian of the money for a real estate purchase[/B] 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 [B]Protector of both the buyer and seller in property selling transactions[/B] 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 [B]Issuing of title insurance policy on purchased property[/B] The Escrow agent will be responsible of issuing a title insurance policy of a bought property to the buyer [/QUOTE]
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