The Escrow Holder

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Role of the Escrow Holder
Opens the order for title insurance.
Obtains approvals from the buyer on title insurance report, pest and other inspections. Receives funds from the buyer and/or any lender. Prorates insurance, taxes, rent, etc.
Disburses funds for title insurance, recordation fees, real estate commissions and lien clearance. Prepares a final statement for each party, indicating amounts to be disbursed for services and any further amounts necessary to close escrow.
Records deed and loan documents, delivers the deed to the buyer, loan documents to the lender and funds to the seller, closing of escrow.
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