Escrow companies manage funds, legal documents, and instructions required to close real estate and commercial transactions safely. Providers differ by their specialization in residential sales, commercial property, or business transfers, as well as their fee structures and digital closing options. Selecting a provider requires looking beyond location to confirm their experience with your specific deal type and timeline.
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American Title Company of Washtenaw
825 Victors Way, Ann Arbor, MI 48108-2830
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Cislo Title Company
3135 S State St, Ann Arbor, MI 48108-1653
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Absolute Title Inc
2800 S State St Ste 110, Ann Arbor, MI 48104
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Cislo Title Company
455 E Eisenhower Pkwy Ste 300, Ann Arbor, MI 48108
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Devon Title Agency
3025 Boardwalk Dr Unit 155, Ann Arbor, MI 48108
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Select Title Company
325 W Eisenhower Pkwy, Ann Arbor, MI 48103
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Good to know
What does an escrow company do during a property sale?
An escrow company acts as a neutral third party that holds purchase funds, deeds, and legal documents until all conditions of a sale contract are met. They coordinate with buyers, sellers, lenders, and real estate agents to ensure money and property ownership transfer correctly. Once all instructions are satisfied, the escrow officer disburses the funds and records the documents.
How much do escrow services typically cost?
Escrow fees are typically calculated as a base fee plus a percentage per thousand dollars of the purchase price, often ranging from a few hundred to a few thousand dollars total. Additional costs may include wire transfer fees, document preparation fees, and notary charges. Who pays these fees varies by local custom and what is negotiated in the purchase agreement.
How do I choose between an independent escrow company and a title-owned escrow service?
Independent escrow companies are regulated specifically for escrow operations, while title-owned companies handle both title insurance and escrow under one roof. Choosing between them usually depends on purchase contract negotiations, mortgage lender preferences, or past experiences with a specific officer's responsiveness.