A neutral third party holds the documents and money involved in a real estate transaction and ensures that all conditions of a sale are met.. Escrow also refers to a special account that a lender establishes to hold monthly installments from the borrower to cover property taxes and insurance.

Upon closing, review the closing statement to determine that the costs were allocated in accordance with your instructions. It normally takes a period of time after closing before the hazard and title insurance policies can be delivered to you. Any recorded documents to which you are entitled will be mailed to you after the escrow has closed. Frequently these documents will come to you directly from the office of the recorder or the Secretary of State in the case of personal property filing.

• serves as the communication link to all parties in the transaction.
• prepares escrow instructions.
• requests a preliminary title search to determine the basis upon which a title insurance policy may
  be issued.
• requests a beneficiary's statement or pay-off demand relating to existing financing.
• complies with lender's requirements, specified in escrow agreement.
• receives purchase funds from the buyer.
• prepares or secures the deed or other documents related to escrow.
• prorates taxes, interest, insurance and rents according to instructions.
• secures releases of all contingencies or other conditions as imposed on any particular escrow.
• records deeds and any other documents
  as instructed.
• requests issuance of the title insurance policy.
• closes escrow when all of the instructions of buyer and seller have been carried out.
• disburses funds as authorized by instructions, including charges for title insurance, recording fees, real estate commissions and loan payoffs.
• prepares final statements for the parties accounting for the disposition of all funds deposited
  in escrow.

• offer legal advice.
• negotiate the transaction.
• offer investment advice