Escrow Agent Advice (WA State)

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

1yr ago

Escrow Agent Advice (WA State)

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 a lender 1yr ago
from California State University, Sacramento in Seattle, WA, USA

Grant has been doing escrow for decades. He’s efficient and knowledgeable. Some lenders don’t require an escrow as their closers can handle the functions with Borrower and seller counsel. Some brokers in WA prefer to use escrows. redacted

reply by a professional 1yr ago
from Western Washington University in Spokane, WA, USA

On a deal of that size, it might be best to have the buyer's attorney handle escrow. I've done that and it simplifies the process a lot. Probably will lower the cost as well.