Escrow Job Description
When mortgage companies or banks finance real estate transactions, consumers provide them with contracts promising to fulfill the terms of repayment and insure the property, a legal arrangement called escrow. Escrow workers compile, organize and secure these documents. As of August 2010, escrow clerks in the United States earned an average of $34,000 annually, according to Indeed.com.
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Job Duties
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The primary job duty is drafting escrow agreements that clearly outline the terms of the contract. The escrow worker ensures all parties provide authorization signatures and distributes copies of the documents to appropriate agencies. Keeping escrow records updated and accurate is another important duty.
Skill Requirements
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Exemplary attention to detail is necessary to compile and review contract terms. The ability to explain complex terms in common language is a requirement. Good organizational skills are important for file and record maintenance.
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Preferred Background
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Most employers prefer that escrow workers have experience in real estate, banking or contract administration. An associate or bachelor's degree in a related field is desirable. Experience in compiling and reviewing legal documents is a plus.
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References
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