Escrow (continued) .....

An escrow holder, otherwise known as an escrow company, or some other eligible person, acts as a neutral agent of both buyer and seller in a purchase transaction. In a refinance transaction the escrow holder is the neutral agent between the proposed lender and the borrower. The escrow holder follows the specific directions of the principals and collects and distributes documents and money as agreed upon in the purchase agreement or closing instructions.

If escrow instructions are drawn, they must reflect the undersanding and agreement of the principals, who may not always be a buyer and a seller, since transactions involving the sale of real estate are not the only kind that require the use of an escrow. Any time a neutral third party is needed to handle documents or money, such as leases, sales of personal property, sales of securities, loans, or mobile home sales, an escrow might be required.  

Eddy Martinez

Best Rate Funding - Direct Lender - Wholesale Rates

Senior Loan Consultant

Direct Line: 1-888-702-2225 x. 115

E- Fax :1-310-943-6551

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