Among the vital services that Wharton Law performs as part of our real estate practice is offering title and escrow services to our clients. These services are often performed in tandem, but may also be performed separately.
Our title services entail, among other things, opening the order for title insurance, obtaining approvals from the lender or buyer with regard to title examination reports, termite, and other inspections deemed necessary, receiving funds from the buyer and/or the lender involved in the transaction, and prorating escrow items. Additionally, once objectionable title exceptions are cleared and lender approval is obtained we disburse the closing proceeds in accordance with the settlement statement to the various parties involved, including the seller, title insurance company, county recordation office, real estate agents, lien holders, etc. Finally, we ensure that the deeds and other documents are recorded; we deliver the deed and owner’s title policy to the buyer, the loan documents and lender title policy to the lender, and close the escrow.
The escrow services we provide entail, among other things, acting as a neutral third party that holds legal documents and funds on behalf of a buyer, seller, and in some cases, the lender, and distribute these items according to the escrow instructions received from the parties involved in the transaction. This arrangement provides additional assurance to the parties involved that they will receive the benefit of the bargain because as the escrow agent we adhere to instructions agreed to by all parties involved. In the event that any of the conditions contained in the escrow instructions cannot be met, we will inform the parties and await further instructions before proceeding.
Our escrow services provide a convenient means to the parties of ensuring that the transaction moves forward as efficiently as reasonable possible.