Can a Title Company Handle Escrows?

Written by Roy Oppenheim Posted On Friday, 02 November 2018 09:32

Can a Title Company Handle Escrows? Can a Title Company Handle Escrows?

Can a Title Company Handle Escrows?

YES, they most certainly can. Title companies play several key roles in matters concerning real estate transactions. They act as the agent of various parties involved in real estate transactions, including buyer, insurance company, and seller. One of their most important responsibilities is the handling of escrow accounts, which generally contain funds needed to close the deal. Funds are set aside in escrow accounts to ensure that the money is used only for its main purpose, namely for settlement and closing costs.

Buying and selling of property is capital-intensive and usually involves a transaction of huge sums of money. It is therefore important to ensure that the process is handled by a neutral party that has no special interest. Title companies usually handle the transfer of funds and all necessary documents from one party to another. They do this to ensure that all conditions that have been put in place are met before money and property change hands. The tittle company usually implements written instructions given by the main stakeholders (the seller, buyer and lender). These instructions include receiving necessary documents and funds, completing the required forms, and handling necessary items (funds and documents) to respective parties upon completion of the escrow process.

As closing and settlement agent, a title company not only manages the closing process but also conducts it. Title companies are well-versed in the mechanics of the real estate industry; they know how sensitive real estate transaction are and they ensure that the process is conducted transparently and smoothly so that both parties involved in the process are happy and satisfied. The closing process can sometimes be very complicated. The title company will assist with resolving any issues that may arise and they will ensure that all parties have reached a common ground before they allow exchange of funds and documents to the seller and buyer, respectively.

Should I trust title companies to handle escrows?

YES. In fact, they are the best and most recommended choice to handle escrows. As a neutral third party, they have no special interest in the process. Their main goal is to ensure that all parties involved in the process are happy and satisfied. They also ensure that all involved parties have complied with the law and have followed legal process. They will only allow money and documents to change hands if they are satisfied beyond reasonable doubt that all conditions set by parties, and legal requirements, have been met. Therefore, when you choose a title company to handle escrow, you can be sure that your money or documents are in safe hands, especially since they are generally backstopped by giant, publicly-held title insurance companies.

Weston Title & Escrow Inc

2500 Weston Rd Ste 404, Weston, FL 33331

(954) 384-6168

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Original source:https://westontitle.com/weston-title-news/can-title-company-handle-escrows/

Media

Weston Title Announces New Real Estate Closing Apps "EZ-Close℠" For iphone And Android Weston Title & Escrow

Rate this item

(1 Vote)

Roy Oppenheim

Roy Oppenheim has been practicing law since 1987 focusing his practice on all phases of real estate and real estate development and redevelopment from land acquisition to multifamily, retail, office hotel, industrial and mixed use development, as well as single family home development for sale and rent. Mr. Oppenheim has routinely represented developers, investors, home buyers and lenders in these commercial transactions in Florida and elsewhere in the United States. He has been involved in virtually every stage of the development process from acquisition, due diligence, title insurance, financing and closing of such projects. Mr. Oppenheim’s client turn to him for his sharp legal acumen along with his entrepreneurial background that allows Mr. Oppenheim to approach each matter from a pragmatic and refreshing background. Further, clients enjoy Mr. Oppenheim’s infectious passion for his involvement in their business as well as his unbiased legal opinion based on a holistic approach; rather than from a siloed perspective. From analyzing, negotiating to structuring deals, Mr. Oppenheim’s clients turn to him time and again for his advice. Mr. Oppenheim also represents Florida real estate brokers and Realtors, individual buyers, and sellers in connection with the purchase and sale of Florida real property as well as litigates real estate disputes involving both residential and commercial properties. Mr. Oppenheim also served as outside general counsel for various Florida companies over the past 30 years providing sound legal advice to start ups as well as mature businesses concerning various business and corporate matters including governance, expansion, acquisitions, borrowing, commercial litigation, and employment related matters. The myriad of businesses Mr. Oppenheim represents is vast including from the fields of retail, hospitality, entertainment, healthcare, technology, import-export, and wholesale. Many of these businesses have both a physical and/ or online presence. Mr. Oppenheim here again brings his over three decades of legal knowledge and business experience to his clients and their respective businesses. After Working for Milbank Tweed on Wall Street and White & Case in Miami, Mr. Oppenheim founded Oppenheim Law in 1989 with his wife Ellen Pilelsky where they began representing Arvida development and its various home builders amongst numerous national banks such as Northern Trust, Chase Bank and SunTrust Bank for over 15 years. Serving national, international, and local clients, Mr. Oppenheim has the highest rating (A-V) conferred by Martindale Hubbell Law Directory, the most respected directory of lawyers and law firms in the U.S. He has also been selected as a “Best Real Estate Lawyer in the United States” since 2012, a designation of only 5% of all Lawyers. The Firm also has a 10.0 rating, the highest rating from AVVO another distinguished national rating service. In 1989, Mr. Oppenheim also co-founded and served as general counsel to ShopSmart Corp., the company that originated and owned the GNC Gold Card Program, a program that continues to this day and was one of the first cross-promotional programs of its kind. In addition, in 1994, Roy co-founded Weston Title & Escrow, the oldest title company in Weston, Florida that serves all of Florida and has closed in excess of three billion dollars in transactions. Mr. Oppenheim currently serves as its Senior Vice President. In 1999, Mr. Oppenheim also served a one-year term on the board of directors for Catalina Lighting, a publicly traded company on the New York Stock Exchange. Mr. Oppenheim is also designated by the Florida Secretary of State as an International Civil Law Notary, one of only 137 out of 106,000 attorneys in the State. In 2008, during the foreclosure crisis and the Great Recession, Mr. Oppenheim and his team of lawyers represented 1000’s of homeowners that were unable to pay their mortgages and were facing foreclosures. Facing daunting odds and the rath of large foreclosure mills funded by the big banks Mr. Oppenheim helped establish a new legal practice area of foreclosure defense while helping these homeowners defend themselves against the banks. During that time Mr. Oppenheim became an outspoken critic of the banks and started the Southfloridalawbog.com which was voted the best business and technology blog by the South Florida Sun-Sentinel. The blog was syndicated to Yahoo! Homes, and Newsweek. Mr. Oppenheim routinely appeared on HuffPost Live, FOX News, and Lifetime TV and on WLRN Radio. In addition, he has been quoted in prominent national publications, including USA Today, The New York Times and Huffington Post, among others. Mr. Oppenheim has also co-authored and two law review articles, Deconstructing The Black Magic of Securitized Trusts, published in the Stetson University Law Review’s Spring 2012 Edition, and The Emperor’s New Clothes, published in the William & Mary Business Law Review Volume 6. Both addresses systemic legal problems with the residential foreclosure process at the time. During that time Mr. Oppenheim became an outspoken critic of the banks and started the Southfloridalawbog.com which was voted the best business and technology blog by the South Florida Sun-Sentinel. The blog was syndicated to Yahoo! Homes, and Newsweek. Mr. Oppenheim routinely appeared on HuffPost Live, FOX News, and Lifetime TV and on WLRN Radio. In addition, he has been quoted in prominent national publications, including USA Today, The New York Times and Huffington Post, among others. Mr. Oppenheim has also co-authored and two law review articles, Deconstructing The Black Magic of Securitized Trusts, published in the Stetson University Law Review’s Spring 2012 Edition, and The Emperor’s New Clothes, published in the William & Mary Business Law Review Volume 6. Both addresses systemic legal problems with the residential foreclosure process at the time. Admissions Florida Bar, 1987; Member of the Real Property Probate and Trust Law Section New York Bar, 1987; United States District for the Southern and Eastern Districts of New York, 1987 U.S. District Court, Southern and Middle Districts of Florida, 1993 Education Princeton University, A.B., cum laude, 1982 Northwestern University School of Law, J.D., 1986 Member of the Northwestern University Law Review Member of the National Moot Court Team

https://www.oppenheimlaw.com

Latest from Roy Oppenheim

More in this category: > Why Fall Is the Ideal Time to Focus on Property-Wide Pest Control Unusual Flooring Ideas - Out of the Box

Agent Resource

Realty Times

From buying and selling advice for consumers to money-making tips for Agents, our content, updated daily, has made Realty Times® a must-read, and see, for anyone involved in Real Estate.