Buyer & Seller FAQs

The Basics

  • What is escrow (in plain English)?

    Escrow is a process where a neutral third party holds funds and documents, follows the parties’ written instructions, and completes the transfer only when the agreed terms are met.

  • Why do we use escrow?

    Escrow protects everyone. Funds and documents do not move until the agreed steps are completed, verified, and documented.

  • How does escrow work?

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  • Who chooses the escrow company?

    The principals choose. Agents typically recommend an escrow partner, but buyers and sellers have the right to select the escrow holder.

  • How long does escrow take?

    Timing depends on the contract timeline, financing, inspections, and clear title. We keep the process moving by addressing conditions early and staying on top of deadlines.

Buyer and Seller Questions

  • What do I need to do while I’m in escrow?

    Respond quickly to requests, review documents promptly, and ask questions when something is unclear. The fastest closings come from timely decisions and clean paperwork.

  • What is a closing statement / settlement statement?

    It is the estimated and final accounting of the transaction. It shows credits, lender charges, other charges, lien payoffs, deposits, and the amount due from the buyer or net proceeds to the seller.

  • When do I get my proceeds (seller)?

    Typically, the next business day after the transaction records and funds are available for disbursement. Timing can vary by bank and funding method.

  • What is title insurance and who pays for it?

    The principals choose. Agents typically recommend an escrow partner, but buyers and sellers have the right to select the escrow holder.

  • How are property taxes handled?

    Property taxes are paid current by the bill’s due date. Taxes are typically prorated on the closing statement based on the contract terms. Supplemental tax bills can be issued after closing.

  • Can escrow explain my loan documents?

    Yes. We work with high-volume investor firms, top agents, and high-volume teams, so our process is built for speed, accuracy, and repeatability across multiple files.

  • What fees should we expect?

    Title and escrow fees vary by transaction type, complexity, and property location. Early in the transaction, we provide an estimated settlement statement showing projected charges, including common third-party costs like title, recording, and lender fees.

  • What happens if escrow cancels?

    Funds are handled according to written cancellation instructions signed by all principals. If there is a dispute, the escrow holder will not disburse funds without mutual instructions or a legal resolution.

  • How do we prevent wire fraud and payment scams?

    Always call your escrow holder to verbally verify wire instructions using a trusted phone number. Never rely on emailed changes. If anything looks off, stop and confirm before sending funds.