A Title Company is a third party who is disinterested in any part of a transaction other than its completion. It collects and disburses funds in a real estate transaction in accordance with the written agreement for the sale (Offer & Acceptance) between a buyer and a seller. The Title Company receives the Offer & Acceptance signed by the seller and buyer. The earnest money from the buyer is received at that time and escrow is then officially opened. The earnest money is deposited and an escrow number is assigned to the file.
Topic Category: Las Vegas Real Estate