What are escrow services?

Escrow services are an important part of residential real estate law in Iowa. Escrow services are when a third-party, called an escrow agent, is hired to oversee and manage the financial aspects of the home buying process. An escrow agent holds all of the important documents and money associated with the purchase, such as the deed, title, loan documents, and the buyer’s down payment. The escrow agent verifies that all the paperwork is in order, that the funds are in place, and that both the buyer and the seller are in agreement. Once the agent confirms that all the requirements for the sale have been met, the escrow agent transfers the property title and the money to the appropriate parties. Escrow services help streamline the process and provide an extra layer of security for both buyers and sellers. Escrow agents also help ensure that the transaction is completed smoothly and that all parties involved are fairly represented.

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What are escrow services?

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