Escrow Assistant job description

An Escrow Assistant provides critical administrative support to escrow officers by managing documentation, coordinating with real estate transaction parties, and ensuring compliance with legal requirements, directly contributing to the seamless execution of property closings and enhancing client satisfaction through meticulous attention to detail.

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What is a Escrow Assistant?

An Escrow Assistant is a specialized administrative professional who supports escrow officers in real estate and financial transactions. They work primarily in title companies, law firms, or real estate agencies, facilitating the escrow process where funds and documents are held by a neutral third party until all contractual conditions are met. This role requires strong organizational skills, knowledge of real estate procedures, and adherence to regulatory standards to protect all parties involved in transactions.

What does a Escrow Assistant do?

Escrow Assistants manage the preparation and review of escrow instructions, deeds, and settlement statements to ensure accuracy and compliance. They communicate with buyers, sellers, lenders, and real estate agents to coordinate document signings, funding, and closing timelines. Additionally, they handle client inquiries, maintain transaction files, and perform title searches to verify property ownership and liens. Their diligence helps prevent errors, reduces legal risks, and ensures timely and efficient closings.

Job Overview

Escrow Assistant provides critical support to escrow officers in real estate transactions by managing documentation, coordinating with parties, and ensuring accurate processing of escrow instructions. This role requires meticulous attention to detail, strong organizational skills, and knowledge of real estate closing procedures in the United States.

Escrow Assistant responsibilities include:

1. Prepare and review escrow documents including settlement statements, deeds, and loan documents 2. Coordinate with lenders, real estate agents, title companies, and clients to ensure timely transaction completion 3. Process earnest money deposits and manage escrow account disbursements 4. Calculate prorated taxes, HOA fees, and insurance premiums for accurate settlement statements 5. Maintain electronic and physical transaction files in compliance with regulatory requirements 6. Schedule signing appointments and coordinate with notaries for document execution 7. Communicate transaction status updates to all parties throughout the escrow process
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Must-Have Requirements

1. High school diploma or equivalent with minimum 1 year escrow or real estate transaction experience 2. Proficiency with escrow software systems (SoftPro, Qualia, or ResWare) 3. Understanding of ALTA settlement statements and real estate closing documents 4. Knowledge of RESPA (Real Estate Settlement Procedures Act) requirements 5. Strong mathematical skills for calculating prorations and settlement figures 6. Excellent communication and customer service abilities 7. Ability to handle multiple transactions simultaneously under deadlines

Preferred Qualifications

1. Associate's or Bachelor's degree in Business, Finance, or related field 2. 2+ years experience as Escrow Assistant in US real estate market 3. Notary Public commission 4. Experience with both purchase and refinance transactions 5. Familiarity with different state-specific closing requirements 6. Previous experience handling REO or short sale transactions 7. Knowledge of wire transfer procedures and fraud prevention protocols

Bonus Skills

1. Certified Escrow Assistant (CEA) designation 2. Bilingual communication skills (Spanish preferred) 3. Experience with 1031 exchange transactions 4. Proficiency in Microsoft Office Suite, particularly Excel 5. Understanding of title insurance policies and endorsements 6. Experience working with digital signing platforms (DocuSign, Adobe Sign) 7. Knowledge of construction loan disbursement procedures

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