Real Estate Escrow Unit 8 Exam Questions With 100% Correct Answers

Real Estate Escrow Unit 8 Exam Questions With 100% Correct Answers The escrow holder's agency to the principals - answerescrow's agency to the principals is limited in scope, responsible only for carrying out the duties as specified in the escrow instructions. The escrow holder is not held to the same full disclosure requirements as those of a general agent. If a buyer has signed and returned escrow instructions but the seller has not - answerIf a buyer has signed and returned escrow instructions but the seller has not, there is technically no escrow until the remaining signatures are obtained. During the borrower's signing of loan documents, the escrow officer may - answerThe escrow officer may only answer procedural questions regarding the escrow (i.e., fees, costs, and accounting) and may not interpret the meaning of any information in the loan documents. If they do not completely understand the documents and the loan officer is not present, the escrow officer should stop the signing process and contact the loan officer to offer an explanation. A copy of the loan application will be included with the documents to be signed by the borrower(s). In the loan documents the lender - answerNeither Lender nor its agents, brokers, insurers, servicers, successors or assigns has made any representation or warranty, express or implied, to me regarding the property or the condition or value of the property.