Before choosing your escrow officer you need to understand what an escrow officer really does. Nicole Phillips, Escrow Officer with Advantage Tile in Westlake Village, CA says “Escrow is the neutral third party between the buyer and seller in a real estate transaction. We hold the funds to pay the bills at the close and affiliate the loan document signing.” They perform a multitude of tasks from ordering payoff demands on existing liens, to preparing preliminary/final closing statements (HUD-1 forms), and getting the transfer recorded on title.
Due to how close a role your loan officer will play in your real estate transaction, it’s important to build rapport and a good working relationship with the lender you choose. You should ask friends and coworkers for referrals and interview several loan officers before making a decision on who to work with. Another good place to start is your bank and your employer’s bank since a relationship is already established. You can also search Google for “loan officers” in your area because a credible loan officer will have a visible online presence in today’s day and age.
Like most buyers, you will probably be paying for your home using financing of some sort. Before determining your price range and searching for homes, you need to know if you will be able to get the loan you desire for the amount you require.
If you are buying a home using financing, the first thing you should do is get Pre-Qualified or Pre-Approved.