Escrow Services Escrow serves as an intermediary liaison communicating with all parties involved: Receiving and holding all funds, instructions and documents for the purchase Complying with the lenders requirements in its instructions to escrow Requesting a title search and preliminary report to determine the status of title to the property Requesting a beneficiary statement or payoff demand from existing lenders Holding inspection reports, deeds and insurance documents Preparing or obtaining the Grant Deed Prorating taxes, interest, insurance, rents and other costs related to the escrow Recording the deed and other documents Closing the escrow according to the instructions of the Buyer, Seller and Lender Disbursing funds as authorized by the instructions, including real estate commission, loan payoffs, sellers proceeds, title insurance, taxes, recording fees and other costs Preparing and mailing final closing statements. Copyright © 2009 - The First American Corporation