Escrow Services

An escrow agent holds and manages funds, documents, and other assets during a real estate transaction, ensuring that all terms of the agreement are met before disbursing the money or transferring the property.

Escrow is typically used in real estate transactions to provide security and ensure both parties meet their obligations. It is especially necessary when large sums of money or significant assets are involved.

The length of the escrow process depends on the complexity of the transaction. Typically, escrow lasts anywhere from 30 to 60 days, but it can vary based on factors such as inspections, financing, and title clearance.

The Escrow Process

1. Opening Escrow
Once a real estate purchase agreement is signed, escrow is opened by depositing funds (usually earnest money) with an escrow agent, who holds it until the sale is finalized.

2. Verification of Documents
Our team ensures all documents, such as the purchase agreement, title information, and loan details, are properly submitted and verified. This includes performing a title search to ensure there are no outstanding issues with the property.

3. Handling Funds
BCN Law Firm’s escrow agents manage the transfer of funds, including deposits, closing costs, and loan disbursements, ensuring that everything is processed securely and according to the agreement.

4. Closing the Escrow
Once all conditions of the sale are met—such as completing inspections, securing financing, and signing documents—escrow is closed, and the property title is transferred. Funds are then disbursed to the appropriate parties.