What is the main advantage of closing in escrow?

The primary advantage of closing in escrow is that it allows for a more streamlined process where the parties involved, such as buyers, sellers, and their respective representatives, do not need to meet face-to-face. This can greatly simplify negotiations and help maintain a level of professionalism, particularly in transactions that may be complex or contentious. Conducting the closing in escrow means that a neutral third party manages the transaction, collects and distributes documents, and handles the funds while ensuring that all conditions of the agreement are met before the transaction is finalized.

By utilizing escrow, it can also help alleviate stress for both parties since they do not have to coordinate a meeting time. This is especially beneficial in long-distance transactions where buyers and sellers may not be in the same location. The process can proceed efficiently without the potential for delays that might occur if all parties had to meet in person.

Closing costs, title clarity, and market value, while important factors in a real estate transaction, are not the primary benefits provided by the escrow process in this context.