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Who Needs Escrow?

You do…if you are buying or selling a house, business, income In an escrow transaction, an escrow officer makes sure your
property, mobile home, or if you are involved in any other written instructions are carried out before exchanging the funds
transaction which may require the transfer of documents or funds and/or documents.

1. What is Escrow? 3. What transaction types necessitate

It is an agreement in which a buyer and seller appoint an impartial Escrow?
third party to hold funds and/or documents. For example, in a real
estate transaction, an escrow officer would hold the seller’s deed • Residential Sale Transactions
and the buyer’s funds.Structural Engineer’s Report. Such a report • Refinancing a Mortgage
would identify structural failures and details of recommended • Sale of Income and Commercial Property
corrections. • Subdivisions
• Mobile Home Sales
2. What Does an Escrow Officer Do? • Construction Loans

Our escrow officers act for all parties to the escrow. We hold
such documents as deeds, bills of sale, releases and any special 4. Who Pays the Escrow’s Cost?
reports needed and have the necessary documents recorded. We
act as the depository of money involved in the transactions. We The escrow cost is a matter of agreement between the parties, as
can see that taxes, fees, interest and commissions due are paid, is the choosing of the escrow company.
and we disburse funds in the correct amounts at the proper times.
Driggs Title will serve as an impartial third party
during your real estate transaction

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