[quote=HLS]Nothing unusual about wanting a walk thru prior to closing.
Closings/settlement are handled differently in the western US.
Escrow companies are normally used in the western half of the US. A escrow & title company (instead of a lawyer) holds the money, signed deed, and handles the transfer and recording with the county.
It makes it easier for the seller to release ownership of the property, and the buyer submits funds to escrow, neither party needs to be present or ever meet. Escrow is a neutral third party that needs signed instructions from both sides.
They are highly regulated
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In the middle & Eastern US, closings are also called ‘settlement’… They are arranged on a specific date & specific time and buyer & seller meet along with an attorney as ‘settlement agent’, a title company rep may attend also.
The settlement agent accounts for all funds listed on the settlement/closing statement and the property exchange takes place, and the deed is then recorded with the county.
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Same end result. I think it is better to deal with an escrow company but the option may not be available in many areas.[/quote]
Yep. I agree HLS. I think it is perfectly fine to use the Escrow company. In fact, it’s a more efficient process. It was always a pain to have to actually go to the closing or sign a Power of Attorney for my lawyer to go for me.
