COMMON ESCROW INSTRUCTIONS

• 1. How the escrow officer will receive and hold the buyer's money for the purchase of the property?
• 2. The specific time frame set by the buyers and sellers for the transaction to close.
• 3. Particular requirements or specific actions that are to be performed by either party. The escrow officer cannot close until all agreements made have been satisfied.
• 4. The authorization for the escrow officer to distribute funds for title insurance, real estate commissions, recording fees and other costs that arise.
• 5. Instructions for paying taxes and insurance.
• 6. If the escrow officer's examination of the title report discloses liens against the seller or a lien for which the seller is responsible. The escrow instructions usually provide that a portion of the purchase price can be withheld from the seller and used to pay these liens and clear title so the transaction can be closed.