The James Allen Companies Inc.
Escrow Officer Scope of Work
Responsible for establishing new escrow accounts and processing escrow documents in accordance with established policies and procedures. Acts as a neutral third-party between buyers and sellers during a real estate sale, managing funds and processing real estate transactions.
• Completes real estate escrow transactions by determining requirements; clearing titles; assembling, preparing, and reviewing closing documents; disbursing funds
• Determines escrow requirements by studying and clarifying buyer, seller, and lender instructions
• Obtains clear title by ordering title reports; resolving title defects; satisfying existing liens and encumbrances against property or principals
• Establishes escrow account by depositing funds; maintaining records
• Prepares transaction documents by completing forms and statements; collecting and reviewing existing documents
• Completes calculations by prorating taxes and interest
• Completes closing transaction documents by assembling documents; reviewing papers with parties; explaining provisions and procedures; answering questions; checking documents for completeness and accuracy; obtaining signatures
• Completes closing by recording and filing documents; preparing and distributing final closing statements and title
• Prepares HUD by utilizing lender instructions • Closes escrow account by balancing and disbursing funds
• Complies with regulatory requirements by adhering, and enforcing adherence, to requirements.
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations
• Enhances organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments Knowledge and Skills/Technology Used
• Familiar with standard concepts, practices, and procedures within the escrow/title industry field
• Knowledge of Microsoft Office applications • Good client relations and organizational skills
• Ability to write routine reports and correspondence
• Ability to speak effectively before groups of customers or employees of organization
• Ability to calculate figures and amounts such as discounts, interest, commissions, proportions, percentages, area, circumference, and volume
• Detail-oriented and professional; able to handle confidential information
• Ability to deal with multiple types of roles such as real estate sellers, buyers, agents and brokers