Dec 20 2007
What is Escrow?
From the “What is Escrow” series provided by Lori Tubbs, Chicago Title Insurance Company of Oregon.
Why use an escrow?
Escrow provides a mechanism to assure safety and convenience in carrying out the provisions of the earnest money agreement or contract. It also assures that the strict body of rules for real property transactions is carefully observed. An escrow placed with Chicago Title Insurance Company provides:
- A financially responsible and neutral third party who holds the funds and documents and makes concurrent delivery of the deed to the buyer and purchase money to the seller at the moment when the terms and conditions of the transaction have been performed.
- A clearinghouse for the payment of all liens and other encumbrances.
- A trained escrow agent who performs all details in prorating and adjusting accounts between the parties.
About Lori Tubbs:
I have closed escrows for Woodhills Homes for many years. After meeting George Hale, the President of Woodhills Homes, we new this was a business partnership meant to be. We just hit it off. His sense of workmanship, professionalism and sincere concern for his buyers makes my job of closing the escrows so much easier. So, thank you, George.Now, a bit about myself. I was born and raised in New Hampshire. While taking a traveling vacation with my roommate of many years, we ran out of funds in Oregon. We both took temporary jobs in Oregon in 1976 and once I met my future husband, my roommate went back to NH and I naturally stayed in Oregon. I married and now vacation in NH.
My many years of working as a paralegal in New Hampshire made it easy for me to obtain a job working for a title & escrow company. It was a niche that fit me well. My wide range of closing experiences include refinances, residential closings, new construction and development loans. Working with people everyday and being a part of their home buying experience is rewarding and enjoyable to me.
Lori J. Tubbs,
Sr. Escrow Officer
Chicago Title Insurance Company
5285 Meadows Rd., Suite 148
Lake Oswego, OR 97035
(503) 973-7500 phone
(503) 619-0163 fax
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