Need for escrow
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Original Message:
Who does escrow protect, the buyer, the seller, or both? (by Mike N.):
The OP said he/she had a buyer, but the buyer did not want to pay the escrow fees. So after reading all these posts on escrow and closing companies, I ask this question. If the seller gets the money, the new deed is properly recorded, and the resort is notified of the ownership transfer, then does it matter if the buyer used an escrow company? Doesn't escrow, title searches, etc protect the buyer from an unscrupulous seller or a faulty title? IF the buyer wants to accept these risks, then that’s his prerogative.