A For Sale By Owner (FSBO) can be a good way to save money on real estate agent commissions, but many buyers and sellers get in a bit over their heads when they come to understand the local, state and federal guidelines that regulate real estate transactions. If you are planning to complete a FSBO, it pays to hire a full-service escrow company that understands the importance of strict adherence to these guidelines for your protection.
Escrow services offers protection, convenience, and security to buyers and sellers in FSBO transactions. At Market Street Escrow, we work as a neutral third party to protect the interests of all parties involved. We hold funds and documents on behalf of all parties to ensure everyone trusts in the transaction before it is finalized and escrow is closed.
Opening escrow simply requires contacting Market Street Escrow and handing over transaction instructions and deposit funds. Anyone involved in the transaction may open escrow, including the buyer or seller. When no real estate agent is involved in the sale, the seller typically opens escrow, as they are holding the good faith deposit from the buyer and the signed purchase agreement.