The escrow holder may be any disinterested third party. There are two important reasons for selecting an established, independent escrow firm, and attorney, or an escrow officer with a bank, S & L or title insurance company. One is that real estate transactions require a tremendous amount of
technical experience and knowledge to handle smoothly. The other is that the escrow holder will generally be responsible for safeguarding and properly distributing the purchase price.
Escrow officers with established firms generally are experienced and trained in real estate procedures, title insurance, taxes, deeds and insurance.