What obligation does the escrow agent have concerning liabilities?

The correct answer addresses the fundamental responsibilities of an escrow agent within a real estate transaction. An escrow agent acts as a neutral third party that holds funds and documents while the transaction is finalized. By selecting that the escrow agent performs escrow duties without liabilities, it highlights that their role is primarily to facilitate the transaction according to the instructions given by the parties involved, rather than taking on direct accountability for issues such as the property’s condition or disputes between the buyer and seller.

The agent's responsibilities include following the terms of the escrow agreement, managing funds properly, and ensuring that all necessary documents are in order for closing. However, they do not assume liability for the property itself, which remains the responsibility of the seller. Additionally, the escrow agent is not exclusively working for the seller's interests, nor is their job focused on the speed of property turnover. Their primary obligation centers on the impartial execution of the escrow agreement in adherence to legal and procedural standards without being liable for certain aspects of the transaction.