Real Estate Escrow

An escrow agent (also known as a closing agent) is a neutral third party that coordinates the closing of a transaction. Among other things, the escrow agent receives and holds the buyer’s funds and ensures that the necessary documents are executed. Using an escrow agent is almost always required where the buyer is purchasing with a loan. Where there is not a loan, the use of an escrow agent is still highly recommended. Our firm offers competitive pricing for our escrow services, and because we are attorneys, we are able to draft legal documents and offer guidance and understanding through the legal issues that frequently arise.

Tip! Title companies, escrow offices, and law offices are where you can typically find escrow agents. Title companies and escrow offices oftentimes do not have a lawyer overseeing their escrow work. Instead, they typically use limited practice officers (LPOs) which are non-attorneys who are licensed by the Washington State Bar to handle a select amount of legal documents in their business. Most title companies, escrow offices, and law offices base their escrow fees on the total purchase price of the property at subject in the transaction. However, title companies and escrow offices are also required to charge Washington State sales tax for their escrow services, while law offices are not.