Escrow Agent

An escrow agent is a neutral third-party with the responsibility to check and certify that all aspects of a real estate transaction are in place before closing. This type of agent is either a person or a business. Quite often it is a title company, escrow company or an attorney. The agent’s responsibility may include accepting and holding documents and money in escrow from the buyer while closing is under way. They verify all that details of the transactions happen before the closing date. Once a real estate buyer places an offer on a piece of property, their real estate agent will start the paperwork for the transaction. At that point, they will engage with an escrow agent, who collects all relevant items needed to complete the real estate sale. Once everything is ready, the real estate transaction becomes final.