Saint Clair Homes

Now that you have an accepted purchase agreement and the inspection satisfactory; it’s time for the escrow step. The escrow process is handled by a neutral third party, known as an escrow company. Their job is to carry out the terms of the contract as it is written, and to ensure that all of the monies are distributed properly. (This actually where you will see your “earnest” money again)

Another very important role that the escrow company has is to perform a complete title search. This is to ensure that the title is free and clear from any liens or other encumbrances, which could prevent it from being transferred. As part of this search the Title Company or Escrow Company will provide title insurance. Read more concerning Escrow and Title Insurance at: http://www.realestateabc.com/homeguide/buying11.htm