Who selects the escrow company in California?
Why It is negotiable between buyer and seller Is Correct
Answer D: It is negotiable between buyer and seller
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
Key Escrow & Title Terms in This Question
People Also Study
Related California Questions
- What is liquidated damages in a California residential purchase agreement?Contracts
- A liquidated damages clause in a California residential purchase agreement limits the seller's damages, if the buyer defaults, to:Contracts
- In a California standard residential purchase agreement, when does an offer become a binding contract?Contracts
- In a California residential purchase agreement, what is a 'contingency'?Contracts
- In California, which form confirms the agency relationship at the time a purchase agreement is executed?Agency
- What does 'escrow' mean in a California real estate transaction?Escrow & Title
- In California, who typically acts as the escrow holder in a real estate transaction?Escrow & Title
- In California, the escrow officer receives instructions from:Escrow & Title
Key Terms to Know
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
EscrowA neutral third-party arrangement where funds, documents, and instructions are held until all conditions of a real estate transaction are satisfied.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
State-Specific Concepts
Study This Topic
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →