Escrow & Title
In an Arkansas real estate closing, the escrow agent's role is to:
ARepresent the buyer's interests in negotiations
BHold funds and documents and disburse them when all conditions of the escrow are met✓ Correct
CIssue title insurance policies on behalf of the lender
DAppraise the property and certify value to the lender
Explanation
The escrow agent is a neutral third party who holds funds (earnest money, loan proceeds, closing costs) and documents (deed, loan docs) and disburses them only when all contractual and lender conditions are satisfied.
Related Arkansas Escrow & Title Questions
- A special warranty deed contains the grantor's promise to defend title only against:
- The chain of title refers to:
- In Arkansas, real estate closing typically involves:
- Owner's title insurance protects:
- An easement by prescription is acquired by:
- Which of the following liens has the highest priority in Arkansas?
- A cloud on title is best described as:
- RESPA prohibits which of the following at settlement?
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