71.6k views
3 votes
What is something an escrow agent should never do?

a) Receive money from lenders.
b) Offer legal advice.
c) Obtain title insurance.
d) Prepare closing documents.

1 Answer

5 votes

Answer: Obtain title insurance

Step-by-step explanation:

An escrow agent is someone who is trusted and holds property for third parties in case there's a ongoing disagreement that's being settled or in case whereby a transaction is being finalized and this role is usually performed by an attorney

An escrow agent can:

• Receive money from lenders.

• Offer legal advice.

• Prepare closing documents.

Therefore, an escrow agent should not obtain title insurance.

User Nglauber
by
7.5k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.