Final answer:
In a real estate transaction, the buyer and seller share various responsibilities such as repairs and utility transfers. Escrow services facilitate the disbursement of funds for property taxes and home insurance, making these expenses manageable for the homeowner. Option b
Step-by-step explanation:
The responsibilities related to repairs, utility transfer, and mortgage/insurance approvals in a real estate transaction typically fall onto both the buyer and the seller under various agreements. For the buyer, coordinating with the seller's lawyer (Option A) may be necessary to ensure all legal documents are correctly prepared and filed.
Ensuring negotiated repairs are completed by the seller (Option B) usually involves verifying the condition of the property before closing, often through a final walkthrough. Making the seller aware of moving obligations (Option C) is not a typical responsibility for the buyer and is usually under the seller's purview.
Resolving issues after closing (Option D), while sometimes necessary, signifies problems in the transaction that were not addressed beforehand and could have legal or financial implications.
Escrow services play a crucial role in the real estate process by handling the disbursement of funds for property taxes and home insurance, thereby simplifying the homeowner's financial responsibilities.
The escrow agent collects a portion of these expenses monthly, then pays them when they are due, streamlining the usually separate bills into a single, manageable payment. Option b