What Is An Escrow Officer?
Definition of "What is an escrow officer?"
An escrow officer - also known as a loan officer - is the person that walks you through the closing process. They are usually employed by the title company that you are working with. They are a neutral third-party, responsible for overseeing the escrow process. They typically perform the title searches, prepare final paperwork, witness the document signings as well as ensure that the transaction is executed properly and legally.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
There are two definitions of annexation in real estate. The first definition of annexation in real estate deals with the expansion of cities and the accompanying zoning laws. When a city ...
In valuing real estate, substitution is the principle that the market value of a property can be relatively accurately estimated by determining market value of similar properties in the ...
A rental contact in which the tenant's rental is tied to a change in the price level, such as the Gross National Price Deflator. ...
The National Association of REALTORS® (NAR) is not only a commonly used term in the real estate industry, but it is also the largest trade association in the US. With over 1.4 million ...
See estoppel. ...
An opening that lets the outside air come in or out of a structure. A ventilation fan lets the structure have access to outside air when the switch is in open position. ...
(1) The interest rate used to convert future receipts or payments in connection with real estate property to their present value. The cost of capital is used as the discount rate under the ...
Evaluation of housing requirements based on family size, ages, occupations, marital status, and other population characteristics. ...
Combination of insurance policies on property with each providing an additional increment of coverage exceeding the limits of the preceding policy. For example, policy A adds $70,000, then ...
Comments for What Is An Escrow Officer?
I'm interested in becoming an escrow officer.
Jul 20, 2019 15:02:45Hi, Valerie! We wish you all the best and good luck with your preparation! Also, if you come across any unknown real estate terms, feel free to search for them in our real estate glossary.
Aug 08, 2019 08:14:53I would like more information on escrow.
May 22, 2019 14:49:01Hi! You can find the definition of escrow in our glossary. What else would you like to know about it?
May 23, 2019 05:50:03Have a question or comment?
We're here to help.