Real estate escrow in Weston is a type of closing procedure. It involves a deed that is delivered by a grantor to an escrow agent. They are directed to deliver the deed to a grantee when specified conditions are met.
The specified conditions are usually contingent on the purchasing amount being delivered to the agent. Continue reading below to learn more about how an escrow closing works.
If you have any questions or would like to speak to an escrow expert, please contact World Title Company today.
How An Escrow Closing Works
An escrow closing differs from a conventional closing in a single way. The difference is that the buyer and seller do not ever have to meet physically. All the other components are essentially the same.
The other elements include a written contract, delivery of deed, and delivery of payment. These are performed in the same way as under a conventional closing. The buyer and seller work with an escrow agent for a fee.
When both parties enter into a real estate escrow transaction, they enter into a contract. The contract specifies a sum of money to be paid for a specific piece of real estate.
The two parties agree to appoint an agent for escrow. This could be a bank. The real estate escrow process can also be used to exchange deeds to real estate.
There are several advantages to escrow closings. It can be especially advantageous if an individual owns multiple properties and is constantly selling and buying. The agent can make the process convenient.
The Weston escrow agent attends all the meetings, presents offers, counteroffers, and finally performs the actual transaction. All of this is done without the buyer and seller ever having to meet.
Additionally, the escrow transaction has a higher rate of success. This is primarily because an independent third party is performing the transaction. This protects both the buyer and the seller from either one changing their mind.
In order for a real estate escrow in Weston to be valid, there must be a valid deed, an enforceable contract, delivery, and an escrow agent. A deed is valid under certain conditions.
These include it is executed properly, abides by all local and state laws, and is ready to be surrendered once the money is obtained. The deed does not have to include the name.
The escrow agent may write in a name at any point. An enforceable contract is usually a purchase agreement. If the purchase agreement is missing, either party can stop the transaction at any time.
Work With A Trusted Escrow Company In Weston
The process of purchasing real estate can be filled with numerous challenges. Working with a trusted Weston escrow agent is essential to ensuring the process goes smoothly.
World Title Company is a trusted provider of title insurance offered by a team of highly trained escrow assistance. We are committed to assisting with the difficult technical aspects of property sale and purchase.
Contact World Title Company today to speak with a dedicated escrow assistant. We firmly believe “We put you on top of the real estate world”.