The escrow officer is a neutral professional who: • Holds buyer funds securely • Follows the terms of the purchase contract
• Coordinates with lenders, agents, and title companies • Ensures funds and title transfer correctly and legally They do not represent either party and do not provide legal advice—they strictly follow written instructions.
WHEN IS THE MONEY RELEASED?
The earnest money remains in escrow until the transaction either: • Closes, at which point it is applied toward the purchase, or • Legally cancels, in which case the funds are disbursed according to the contract and mutual instructions Only after the deed is recorded and all conditions are met are funds released to the seller.
Step #10: Negotiate with the Seller
In real estate transactions, the negotiation process is one of the key steps for both the buyer and the seller. While the seller and listing agent want to sell the home for the highest amount they can, you as the buyer (and your buyer’s agent) will, reasonably, want to get the best deal you can. It honestly can feel like a competition, and can be challenging and stressful, and this is where negotiations come into play! Later on, we will talk in much more detail about the negotiation process for buyers, but here’s a bit of an overview, because negotiations are a critical step in the overall home-buying 132
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