Settlement service is a generic term which encompasses a wide variety of services that are related to closing real estate transactions; paying off prior liens and mortgages and disbursement of new loans.  Escrow services are treated as part of the over-all settlement services.  However, it does not precisely describe many loan closing services and the term is less than satisfactory, especially in those markets which base their instructions on the sales contract.

Escrow services are provided based upon written instructions mutually agreed to by all parties. Oral instructions are not accepted either initially or as an amendment to the written instructions.

The ability of the settlement agent to coordinate the closing with the title insurance coverage is a very valuable consideration by which the consumer chooses a particular settlement agent.  Usually, they are motivated to choose an agent as much by the helpful nature of the staff, as the quality of his/her performance.  They also want a skilled, qualified agent to handle their transaction.  Trust and confidentiality are obviously of utmost importance.

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