Gain insight into the essential qualifications, important duties, key responsibilities, and vital skills that form a well-rounded Escrow Officer job description.
What does a Escrow Officer do?
An escrow officer, also known as a loan officer, is someone who helps with the finalization of real estate deals. Their main responsibility is to make sure that all aspects of the property agreement are met and to complete the necessary legal paperwork and transfer of funds once the transaction is finalized.
Job Description
We are looking for an experienced escrow officer to handle the legal administrative duties for clients who are buying or selling properties. In this role, you will be responsible for making sure that the property titles are clear, any outstanding debts have been paid, all financial obligations have been met, and that the real estate agreements are legitimate. You will also be in charge of handling the transfer of funds and completing the necessary legal paperwork to finalize the transaction.
Job Duties and Responsibilities
- Verify the accuracy of land ownership documents.
- Talk to buyers, sellers, and lending institutions.
- Examine property titles for any unpaid taxes.
- Review and summarize mortgage and trust deed documents.
- Look over and summarize search activity documents.
- Get property drawings and reports from county surveyors or assessors.
- Make sure that all financial obligations have been met by the seller and buyer.
- Prepare legal documents for the sale's closure.
- Hold and transfer funds.
- Finalize the real estate transaction and prepare closing reports.
Requirements and Qualifications
- High school diploma or equivalent.
- State certification as an escrow officer.
- Proven work experience as an escrow officer.
- Excellent decision-making skills.
- Advanced knowledge of clerical work.
- Ability to read and understand blueprints and property maps.
- Knowledge of legal codes, court procedures, and executive orders.
- Basic computer and office software skills.
- Good communication skills.
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