August 14th, 2014 at 9:31 pm
In another situation, the escrow officer refused to directly pay our salesperson’s corporation, even though our branch manager gave escrow written authorization to cut the check from our commission. The escrow officer erroneously claimed that it was “illegal” for escrow to cut the check.
Aside from our own Pickford Escrow, other escrow companies are independent companies, and we cannot dictate to them what to do and how to do it. From a legal standpoint, these other companies do have the right to decide to provide certain services and not to provide other services as in the above situations. However, if you are not dealing with a reputable company, some of their arbitrary decisions may cause problems for one of your transactions, including a delay in the cutting of your commission check!
In multiple offer situations, buyers and their agents are, quite understandably, often unwilling to put the selection of the escrow company at issue. However, as a buyer’s agent, if you are unfamiliar with the escrow company that the other side wants to use, or if you have had a bad experience with that particular company, you are very well-advised to inform your client accordingly.
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