Who Chose This Escrow Officer?

Is it up to the Buyer, the Seller or the Realtor to select an Escrow Officer?

The answer to that question varies depending on where you live and who you ask.  In my real estate market area, the Seller generally selects who will handle the escrow because they typically pay for it.

As your Realtor, I offer resource information just as I would for lenders, home inspectors, contractors, and, and, and . . . however the Seller chooses.

Escrow fees can vary but generally include similar components such as the fee itself, notary expenses, title cost, postage, filing and so on.  These along with county, state and tax proration can and should be evaluated when you are deciding on a price. 

When entering a contract for the sale or purchase of a home, consider all transaction costs in addition to the price, repairs required or long-term maintenance.  An estimate of this information can be provided to you by your Realtor.

Just as in deciding which Realtor to work with, selecting an escrow company takes some thought and analysis.  Some title companies handle escrow while others do not.  Much of that is driven by the area they're in and their business model.

Determine whether you're getting better support through a large, nationwide provider; or will you be more comfortable with a small, local business?  Some of the larger providers will accommodate escrow activities such as signing at a branch office convenient to you.  Conversely, mail may be the necessary method for sending documents back and forth making location less of an issue.

It seems that electronic signatures thus far are not a suitable substitute for title work.  I have heard that some pilot programs are being studied, but haven't seen anything conclusive that suggests the ink-pen is going away soon.

These questions are answered when you work with a full service Realtor during the representation we provide.  Not knowing how much it may cost you at the closing table is a considerable risk to take when it may mean not closing.

As always, let's foresee the possibilities . . . and get results!