Financing in Boston>Question Details

C, Home Seller in Boston, MA

Opening an escrow account

Asked by C, Boston, MA Wed Jan 9, 2008

I need to open an escrow account in the Boston area. Does anyone know of any reliable and trustworthy resources for a title company, real estate firm/ attorney that would help facilitate this process. What are some of the rates?

And also, are there any good online escrow resources or other secure means that I should consider?

I'm new to this process and would appreciate some guidance.


Help the community by answering this question:


C If you are looking to open a account to hold an escroa deposit, just go to you local commercial bank and ask them to open the account. You'll need the Social Security numbers for the parties for whom the funds are being held. It is not something that requires an Attorney. Clearing a deed and transfering title will require an attorney or title company in Massachusetts. Best Robert
1 vote Thank Flag Link Thu Jan 15, 2009
Good Morning!
Your best bet is to hire a good real estate attorney to help you with this. Their rates vary but I am happy to refer you to a wonderful real estate attorney in the Boston area if you'd like!
Good luck!
Sincerely, Mary
0 votes Thank Flag Link Fri Dec 26, 2008
Hire a real estate attorney. They will make sure all the legalities are taken care. Including your escrow account.
0 votes Thank Flag Link Wed Jan 9, 2008
Hi C,

“Escrow Agents” have very strict rules to follow when they obtain this title, so I wouldn’t necessarily worry about any unethical practices in terms of this. Are you selling a home on your own and you have your own buyer who needs somewhere to put their deposit? If so, I would recommend hiring an attorney, as they will handle all of the paperwork in addition to acting as the escrow agent.
0 votes Thank Flag Link Wed Jan 9, 2008
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