When dealing with an escrow company, who generally ensures that all financial obligations are met before property transfer?

The escrow officer plays a crucial role in the property transfer process by ensuring that all financial obligations are met before the transaction is completed. This professional acts as an impartial third party, managing the escrow account and overseeing the handling of funds related to the transaction. The escrow officer confirms that necessary documents are received and that all contractual conditions, such as payments and clearances, are satisfied. This ensures a smooth transfer of property ownership, protecting all parties involved by ensuring that funds are not released until all terms of the sale are fulfilled.

In contrast, while the seller's and buyer's attorneys may provide legal advice and ensure that their clients' interests are represented, they do not have the same direct oversight over the financial transactions that the escrow officer manages. The real estate agent, on the other hand, primarily focuses on the marketing and negotiation aspects of the sale rather than the financial specifics governed by the escrow process. Therefore, the escrow officer is uniquely positioned to guarantee that all financial obligations are correctly addressed before the property transfer occurs.