Welcome to Escrow Partners, Inc.

What is Escrow?

Escrow Partners assembles all the components of a real estate transaction, then processes and records the transaction, transferring ownership from the Seller to the Buyer. The escrow agent is a disinterested (neutral) third party acting on behalf of the buyer and seller under the guidelines set forth by the State of Washington - Department of Financial Institutions.

Life of an Escrow

The Purchase & Sale Agreement is drawn up between buyer and seller.

Escrow Partners receives a copy of the Purchase & Sale Agreement, along with copies of the buyer's loan application and the title search on the prospective property.

Escrow Partners then reviews and clears title on the prospective property while awaiting the buyer's loan documentation.

Escrow Partners prepares all closing documents according to the escrow instructions, which are received from all related parties.

A licensed escrow representative from Escrow Partners facilitates and oversees the signing of closing documents with the buyer and seller (in separate meetings). At this point, Escrow Partners receives funds from the buyer to close the transaction (a cashier's check or bank wire).

The signed closing documents are then forwarded to the lender for review. Upon satisfactory review, the lender releases the file for recording.

The title company records the deeds to the property with the County Courthouse.

The lender balances the prospective account and forwards funds to Escrow Partners for disbursement.

Escrow Partners receives recording numbers from the title company and distributes proper funds to related parties.

Closing has occurred and title (the property) has changed ownership.

The Escrow Process and Responsibilities

Listing Agent Seller Selling Agent Buyer	Lender Insurance Binder Underwriting Mortgage Insurance Verification Buyers Funds Employment Appraisal Credit Report	Oversee Closing Documents Signing Prepare Legal Documents	.	.
.	Determine Status of: Homeowners Dues, Fees, Commissions, Taxes, Liens, Mortgages, Review & Clear Title, Check Taxes & Legal Title Insurance Title Search Examination Issue Commitment Record Documents Issue Policy	Closing Statement & Escrow Instructions	.	.

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