Why do I need escrow?
An Escrow is an arrangement in which a neutral third party, called an Escrow Agent, holds legal documents and funds on behalf of a buyer and seller, and distributes them according to the buyer’s and seller’s instructions.
The Escrow Agent is a neutral third party whose primary purpose is to close a transaction according to the written terms and conditions of a Purchase and Sales Agreement. Escrow Agents exercise the utmost care to protect the money and interests of the parties involved. We uphold the same standards as an attorney. This involves preparing legal documents, clearing liens, acting as a nonpartisan intermediary between various interested parties, facilitating the signing of all closing and lender documents, assuring the recording of them, and disbursing the funds.
Why Island Escrow?
Island Escrow Service first opened its doors in January of 1979. Since then we have dealt with thousands of issues from the simple to the complex. Parties, outside of the buyer and seller, might become involved in the closing process. These parties may include lenders, attorneys, family members, guardians, trustees, personal representatives, creditors, government agencies and lien holders.
Purchasing or selling a home is a significant event in one’s life. We take the time necessary to ensure all parties understand the details of the closing process.
At Island Escrow, we are committed to honest, professional, courteous and friendly service.