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A Good Escrow Officer Is Worth Their Weight In Gold

By
Real Estate Broker/Owner CalBRE# 01433049

clock, stack of papers, pencilIn Northern California, we don't utilize attorneys to close our real estate transactions, we use Title Companies. When a buyer is ready to submit an offer to purchase real estate, the selling agent (aka buyer's agent) asks the buyer if they have a preference of which Title Company they would like to use.

In most cases, the buyer has no preference and will ask their agent to make a good recommendation. When an agent in Northern California recommends a Title Company, what they are most likely doing is recommending an Escrow Officer.

The Escrow Officer, who is employed by a Title Company, is the go-to person for the selling agent once an offer has been accepted. For the next 15 to 75 days on average, the agent and Escrow Officer will be in constant communication in order to close a real estate transaction in a timely and non-stressful manner.

From time to time, an Escrow Officer may make a move from one Title Company to another, just like an agent may move from Brand X to Brand Y. Although there may be a slight difference in price or business model, I have found it best to follow the professional who is actually providing the service, not the brand.

And when it comes down to service, a good Escrow Officer is worth their weight in gold.

 

Posted by

Ā 

Cynthia Larsen (707-332-2560) is an independent real estate referral broker in Sonoma County, California as well as a Certified Probate Real Estate Specialist.

CA Broker License #01433049

Comments(12)

Patty Luther
RE/MAX Rock-n-Roll Realty - Lewiston, ID
Lewiston ID Real Estate, Idaho-Washington

and then some!  I can't tell you how much I love my escrow Agent and her whole support staff ~ Land Title of Idaho!

Aug 24, 2010 08:58 AM
Michael Regan
The Regan Team Home Loan Group - Petaluma, CA
Home Loan Extraordinaire

I completely agree.  It's just like anything else some are good, some not so much but a good one can make difficult transactions go so much smoother. 

Aug 24, 2010 10:36 AM
Cynthia Larsen
Cotati, CA
Independent Broker In Sonoma County, CA

Patty - I've some great experiences with escrow officers and others ... not so much. When you find one you really click with it sure makes a nice escrow experience for everyone involved.

Michael - A good lender is worth their weight in gold as well. I have a difficult transaction going on right now where the escrow officer saved us from closing on a transaction that shouldn't close. We almost sold an unbuildable lot (no water rights) as a buildable lot. Does E & O cover that? I don't want to find out!

Aug 24, 2010 10:45 AM
John Thomas
E3 Green HOMES - Boulder, CO
EcoBroker, MSEE, MBA

We use title companies here in Colorado too but not escrow agents. Here we call them closing agents because we seldom close in escrow. Even still, many real estate agents follow the closing agents once a working relationship is established.

Aug 24, 2010 11:00 AM
Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Cynthia - Worth their weight in diamonds! 

Aug 24, 2010 12:59 PM
Cynthia Larsen
Cotati, CA
Independent Broker In Sonoma County, CA

John - in So. California, Title and Escrow companies are separate. Here they are together. It all gets a little confusing because sometimes the terms escrow officer, title officer and closer mean the same thing depending on where you are from.

Nevin - I was going to save that one for the lenders :)

Aug 24, 2010 01:24 PM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Yep, totally different down here.  The main contact is the Escrow Officer and boy can they make or break a deal.  It's great when you find a good one.

Aug 24, 2010 02:54 PM
Paul S. Henderson, REALTORĀ®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

How many times has a good escrow officer saved my bacon, way too many times to count...
Paul

Aug 24, 2010 05:05 PM
Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

They are an important member of the team.  Our jurisdictions typically have attorneys doing the settlements.

Aug 24, 2010 11:44 PM
Cynthia Larsen
Cotati, CA
Independent Broker In Sonoma County, CA

Jane - I've had one this year that almost killed a deal (I didn't choose title co) and one that recently saved my hide.

Paul - the good ones are worth every single penny.

Yvette - they are as important as the lender and the agents on both sides. If there is a weak spot anywhere in the loop it really shows. How does it work when an attorney does the settlement? Does the buyer choose or the seller or ??? Here it is the buyers choice.

Aug 25, 2010 04:14 AM
Carra Riley & Declan Kenyon
Brokers Guild Cherry Creek Ltd - Westminster, CO
Helping people Transition at all ages!

Cynthia.....You are so right about the importance of a good, professional escrow officer.  Once you find one, they know your style and needs and will make your life much easier.  They are worth their weight in gold for sure!

Aug 25, 2010 05:20 AM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

 

 

 

i have one here in GR. Katie Young from Essential Title. I could not do it without her.

Aug 25, 2010 03:37 PM