What is the main role of an escrow officer?

The main role of an escrow officer is to manage the escrow process and ensure that all contractual obligations between the parties involved in a real estate transaction are met. This individual acts as a neutral third party who holds the funds and documents until all conditions of the sale are fulfilled.

The escrow officer coordinates the various aspects of the transaction, including collecting necessary documentation, ensuring that funds are properly managed, and disbursing them according to the terms outlined in the purchase agreement. They play a vital role in facilitating communication between the buyer, seller, and other parties, such as real estate agents and lenders, to ensure a smooth and legally compliant transaction.

While other roles mentioned, such as determining property value or negotiating contracts, are essential in real estate transactions, they fall outside the primary responsibilities of an escrow officer. Their focus is specifically on managing the process to avoid any potential conflicts or mishandlings of funds, making option B the most accurate description of their duties.