Duties of an Escrow Officer

The escrow officer position is unique to California. Most other states use lawyers to do what escrow officers do. Most Escrow officers enter the field by first working as an Escrow Assistant. Escrow Assistants ensure all details related to sales transactions are accurate. They assist with the processing of all paperwork associated with escrow closings, real estate contracts, deeds, titles, and closing statements. Plus, they usually help audit closed files. Escrow officers facilitate the sale of property by receiving, holding, and transferring funds, deeds, and other legal papers in accordance with agreements made between buyers and sellers. As neutral third parties in property sales, escrow officers help safeguard the interests of both seller and buyer. They review title search and pest inspection reports, insurance policies and loan applications, and check for liens, unpaid taxes, and other encumbrances. Escrow officers record all such expenses and credits for buyers and sellers and calculate the amount owed to each. They pay off debts as required and send closing statements to sellers and buyers.