The Escrow Process
01. Deposit & Intake
The transaction initiates when the purchase agreement is finalized and earnest money is secured in our neutral escrow account, establishing a secure foundation.
02. Title Clearance
We perform rigorous title searches to identify and resolve any defects, liens, or encumbrances, ensuring the property's title is clear and marketable for transfer.
03. Contingency Review
Our team actively monitors all contract contingencies, ensuring inspections, financing, and disclosures are met before moving to the final execution phase.
04. Document Execution
All closing documents are prepared with precision and signed by all parties, verified and recorded to finalize the legal transfer of property ownership.
05. Final Disbursement
Upon successful recording, funds are securely disbursed to the appropriate parties, and the escrow is officially closed with full transparency and reporting.
Title Security
Protect your property investment with comprehensive title insurance. At Levenson Prestige, we conduct meticulous title searches and clear defects to ensure your ownership is undisputed and legally secure against future claims.
Frequently Asked Questions
What is the core role of an escrow agent?
The escrow agent acts as a neutral third party that holds all funds, legal documents, and instructions until every condition of the real estate purchase agreement has been fully met by both the buyer and seller.
Why is a comprehensive title search necessary?
A title search ensures the seller has the legal authority to transfer ownership and identifies any outstanding liens, judgments, or encumbrances that could create future legal challenges for the new owner.
How are contingencies monitored throughout escrow?
We track critical milestones including home inspections, financing approvals, and appraisal results. Funds are only cleared for disbursement once all contract contingencies are formally removed or satisfied.
What happens to my funds during the escrow period?
All earnest money and closing funds are held in specialized, secure escrow accounts. They remain untouchable until the final closing disclosure is signed and authorized by all relevant parties.