Escrow & Title
In Arizona, who typically serves as the escrow agent in a residential real estate transaction?
AThe listing broker
BA title company or escrow company✓ Correct
CThe lender's attorney
DThe Arizona Department of Real Estate
Explanation
In Arizona, escrow is typically handled by a licensed title and escrow company. Attorneys are less commonly used for residential closings compared to other states.
Related Arizona Escrow & Title Questions
- Arizona requires that real estate sellers provide buyers with a disclosure statement about homeowner associations (HOAs). This disclosure must include:
- In Arizona, title insurance protects the insured against losses from:
- In Arizona, if a seller fails to appear at closing, the escrow agent will:
- A buyer in Arizona takes title 'subject to' an existing mortgage. This means:
- A preliminary title report (or title commitment) in Arizona is issued by a title company and PRIMARILY serves to:
- In Arizona, a 'partial release clause' in a blanket mortgage allows the borrower to:
- After an Arizona trustee's sale (non-judicial foreclosure), the former owner (trustor) has:
- In Arizona, 'prorations' at closing are adjustments made to:
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