Escrow & Title
An Arizona escrow officer is considered a:
AReal estate agent
BNeutral third-party depository and closing agent✓ Correct
CAttorney for the seller
DRepresentative of the lender
Explanation
An escrow officer acts as a neutral, independent third party holding funds and documents, following the escrow instructions of both buyer and seller to facilitate a real estate closing.
Related Arizona Escrow & Title Questions
- In Arizona, a 'sub-escrow' or 'sub-trust' at closing is typically used when:
- An abstract of title in Arizona is:
- A preliminary title report (title commitment) in Arizona is issued by the title company to:
- An Arizona escrow agent who receives conflicting instructions from buyer and seller should:
- The Arizona Affidavit of Disclosure is required when selling unsubdivided land of:
- A grant deed in Arizona conveys the property and implies a warranty that:
- RESPA's kickback prohibition (Section 8) in Arizona prevents:
- A title insurance policy that protects the lender against losses from title defects is called a:
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