|Serving Washington and Idaho since 2007
Our Liberty Lake office is conveniently located off Interstate 90, Exit 296, near the
Washington/Idaho border. As an independent escrow company we are able to
provide service across multiple counties by working with various title companies.
As a full service office, transaction types include:
|Land and finished lots|
Explanation of Terms
The terms "closing", "signing" and "escrow" are oftentimes used interchangeably.
For real estate closings in Washington and Idaho, closing occurs when the
documents are recorded at the County courthouse. The signing appointment is
normally scheduled for one or more days prior to the closing date. Prior to recording,
the parties open escrow when they deliver their agreement to a neutral third party
(i.e. attorney, title company or independent escrow company) known as the closing
or escrow agent. There are also long-term escrows in which funds are collected
and disbursed by a neutral third party based on agreements that survive the closing.
Another use of the word escrow references escrow reserves/impounds which are
funds collected and held by the lender to pay future taxes and insurance.
A Little About What We Do
Escrow is normally opened with a purchase and sale agreement or, in the case of a
refinance, lenders instructions. Liberty Closing and Escrow will then open a file,
order a title commitment, clear title, prepare transfer documents and closing
statements, obtain signatures and funds, record documents and disburse funds. As a
neutral third party, we perform the actions above based on the instructions of the
parties to the transaction and our responsibilities as Limited Practice Officers ("LPO")
licensed by the Washington State Bar Association.
Independent escrow offices are also required to be licensed by the Department of
Financial Institutions in the states in which they operate. Liberty Closing and Escrow
is currently licensed to operate in Washington and Idaho.
Liberty Closing and Escrow, LLC