Once your offer on a home or other real property has been accepted by the seller, your transaction is then placed into "escrow." "Escrow" is a term that describes the neutral third-party handling of funds, documents, and tasks specific to the closing (or settlement, as it is also known), as outlined on the real estate purchase agreement or sales contract. The purpose of escrow is to facilitate the transaction by managing the disbursement of funds and documents.
To convey a property from a seller to a buyer, or encumber a property with a new mortgage, First American provides escrow and settlement services as a neutral third party to the transaction. First American acts upon the instructions of the principals and may be requested to coordinate key tasks such as:
NewPath Escrow a non-independent broker escrow, BRE LIC # 01897999, is here to help its clients with escrow needs.
