Settlement practices vary from locality to locality, and even within
the same county or city. Settlements may be conducted by lenders,
title insurance companies, escrow companies, real estate brokers
or attorneys for the buyer or seller. You may save money by shopping
for the settlement agent.
In some parts of the country (particularly western states), settlement
may be conducted by an escrow agent. The parties sign an escrow
agreement which requires them to provide certain documents and funds
to the agent. Unlike other types of settlement, the parties do not
meet around a table to sign documents. Ask how your settlement will
be handled.
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