Escrow & Title
In Arizona, the escrow holder (title/escrow company) acts as:
AAn agent exclusively for the buyer
BA neutral third party holding funds and documents and following the written escrow instructions of all parties✓ Correct
CAn agent exclusively for the lender
DA fiduciary for the seller only
Explanation
The escrow holder is a neutral, disinterested third party who holds funds and documents, follows written instructions from buyer, seller, and lender, and disburses funds and records documents only when all conditions have been met.
Related Arizona Escrow & Title Questions
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- In Arizona, who typically serves as the escrow agent in a residential real estate transaction?
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