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What Are the Duties of a Escrow Officer?

Escrow officers are often employed by realtors and title companies. The deal closely with escrow accounts and serve as a third party to facilitate the completion of a contract.

  1. Function

    • Escrow is a third-party account where funds are held until conditions in a contract are completed. This process is most applicable to real estate closings regarding buy and sell agreements.

    Signatures

    • Escrow officers often witness the signing of real estate closing documents making sure they are executed legally.

    Title Searches

    • In the real estate closing process, escrow officers run title searches on the property to validate the legal owners before the property is sold.

    Finalizing Paperwork

    • The real estate closing process involves a lot of paperwork. Escrow officers facilitate and finalize all closing documents, release funds from the escrow account and answer questions for parties in a neutral manner.

    Salaries

    • According to Salary.com, the median annual salary for escrow officers in the United States was about $40,000 in 2009.

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