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Settlement practices vary from
locality to locality, and even within the same county or
city. Settlements may be conducted by lenders, title
insurance companies, escrow companies, real estate brokers
or attorneys for the buyer or seller. You may save money
by shopping for the settlement agent.
In some parts of the
country (particularly western states), settlement may be
conducted by an escrow agent. The parties sign an escrow
agreement which requires them to provide certain documents
and funds to the agent. Unlike other types of settlement,
the parties do not meet around a table to sign documents.
Ask how your settlement will be handled. |