Who Needs It: Anyone involved in a commercial, industrial, or residential property closing.
What Is It: Escrow simply means that an impartial third party is responsible for holding funds or documents for a transaction and then disbursing them only after certain agreed upon requirements are met. Basically, it allows a buyer to show his or her commitment by giving the money to a secure, uninvolved party, but also ensures that the seller fulfills his or her promises.
Why It Matters: All transactions are subject to contracts and other agreements. Escrow allows all involved parties to negotiate specific terms and deliverables from the outset. The escrow agreement is the set of instructions the escrow agent uses to verify that all requirements have been satisfied and distribute the funds appropriately and efficiently.
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The LUNAR Difference: Over our long history, both individual and commercial clients have come to rely on LUNAR for the safety and security of their escrow investments. This is because LUNAR works not only as an escrow gatekeeper, but as a liaison, communicating with all parties to facilitate the closing process while protecting all involved parties in honoring and executing escrow agreements.