Escrow is a service used in real estate to hold money and documents until the sale is complete. Once you have agreed on a price with the seller, it is important that you both agree on an escrow agent who will serve your mutual needs.Can a seller back out after signing closing papers? Technically, a seller can back out any time before the escrow records the grant deed. Com) for escrow services back in February. Paperwork states buys pays escrow fees if independent escrow service is chosen. Buyer chose independent escrow agency and signed agreeing to additional fees. What's the seller's job during escrow? Escrow Officer: Escrow instructions, documents and forms to be filled out. How long has the company been in the business?