Escrow Agent Advice (WA State)

April 07, 2025

by a searcher from Northwestern University - Kellogg School of Management in Sammamish, WA, USA

What are the pros/cons of working with an escrow agent to support the closing?
Does anyone have any WA based escrow agents to they would recommend?
(Context: this is an asset sale <$1M, with a target close date end of April, no leases, fairly straightforward transition)

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Reply by an intermediary
from University of Washington in Bellevue, WA, USA

HI Kari! Prestige Escrow in Washington is the only way to go - https://www.prestigeescrow.com Best team I've worked with! Escrow is really a way to build in protection for both sides (funding money, funding the CORRECT funds, checking paperwork, making sure everything is signed). Another option on a small transaction is you can ask one side's attorney's handle the funds, final documents, closing statements, etc (but often they don't love doing that.) If you're doing SBA the bank may have an opinion, so you should check there too. Best of luck- and congrats!

Reply by a searcher
from IE Business School in Seattle, WA, USA

In my experience bankers usually have 1 or 2 escrow agents they like to deal with, which is good because you have references for how those deals went. On my last deal we used Grant Anderson (https://www.andersonlawandescrow.com). I liked that he was able to do everything remotely (docusign where possible, or mobile notary where wet ink signatures were needed).

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