Why should I use an independent escrow company instead of my lender or title company's escrow departments?
An inherent conflict of interest exists whenever a lender or title company provides escrow services, as they are likely to take care of their clients first. At Professional Escrow Services, we are truly a neutral third party without preferential ties to any banks or title companies.
What is the real estate agent required to do as part of the escrow transaction?
1. Provide copies of the Purchase and Sale Agreement, any addendums, and the commission disbursement form.
2. Deposit earnest money check as specified in the Purchase and Sale Agreement.
3. Assist us in contacting the buyers or sellers when requested.
4. Fulfill all conditions as specified in the Purchase and Sale Agreement.
Who do I call with questions?
Contact your closer or escrow assistant. When can my customers sign the docs?
After the lender has delivered the loan documents to us, we will contact your client to set up a signing date. It will be at least two days prior to the closing date.
What if my client cannot be present for the signing?
A signed, notarized "power of attorney" enables someone your client designates to sign on behalf of your client. Ask your closer for more details.
When will my buyers know how much money to bring in?
After their lender's loan package arrives, more information is available. Once signing appointments are set and the closing date is confirmed, Professional Escrow will compute and prorate amounts. We'll give your clients a call with the amount needed to close.
May I attend the signing with my clients?
Yes. We recommend it.
Who will review the preliminary title insurance commitment with my clients?
We will be happy to answer any questions your clients may have on the preliminary title. Ensuring that the buyer and seller have reviewed the preliminary title prior to signing is essential.
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