South Carolina Escrow Agreement between Cowlitz Bancorporation, Cowlitz Bank and Northern Bank of Commerce
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How to fill out Escrow Agreement Between Cowlitz Bancorporation, Cowlitz Bank And Northern Bank Of Commerce?
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FAQ
Typically, the role of the escrow agent will be played by representatives from a title company, mortgage lender, or an attorney, but it can depend on the laws and customs in your state.
In California, there are two forms of escrow instructions generally employed: bilateral (i.e., executed by and binding on both buyer and seller) and unilateral (i.e., separate instructions executed by the buyer and seller, binding on each).
Typically, the escrow account is most often opened by the seller's real estate agent, but escrow may be opened by anyone involved in the transaction.
An escrow agreement refers to a contract that outlines the terms and conditions of a transaction for something of value ? such as a bond, deed, or asset ? which is held by a third party until all conditions have been met.
The escrow letter is typically issued by a title company and states that all necessary documents and funds related to the transaction have been received and will be processed when the transaction is completed.
Who Handles Escrow in California? In California, the escrow agreement is usually handled by a licensed Escrow Officer or Escrow Agent. This person will be your representative in the escrow process, and he or she will keep track of the transfer of funds and property and any other important information.