An Escrow Closer handles all intermediary duties between buyers and sellers of valuable products or commodities such as real estate, stocks, etc.
An Escrow Closer’s duty involves holding in escrow, legal documents, financial funds and other collaterals offered by parties in contract to ensure that both parties are able to answer to the agreements signed. It is also his or her duty to monitor that parties are doing their obligations and paying interests or other stipulations indicated in the contract.
The Escrow Closer should also execute the terms of the contract. This may mean holding money, paying off mortgages and distributing sums to the parties involved. He or she should also file and deliver deeds, titles and other legal documents to his or her clients. Securing financing for clients is also a task of the Escrow Closer. Lastly, he or she should be familiar with laws and policies of the government to ensure that the contracts or agreements he or she is handling are legitimate and legal.
Applicants vying for this position need not to have a College degree. Nonetheless, those who want to take in higher positions should have a course related to business or real estate management. This would ensure a better opportunity and a faster promotion, as compared to those without related work experience.
Escrow Closers are usually paid at around $10 per hour but once they become Escrow Officers or an equivalent position, they are then compensated better.
Certain, more established companies, pay better at around $40,000 per year. These figures do not include commission and other company benefits.