Hardware and Software Systems of Adams and Barnes Escrow

Hardware and Software Support for Adams and Barnes Escrow Department

Alex Guerrero

University of Phoenix

Abstract

In the world of real estate where buyers and sellers converge on a daily basis, the process itself can be long and become exceedingly complicated. Since this paper is about an escrow company in the state of California, the demands of the state along with the influence of past lawsuits have increased the amount of pages to over two hundred. This paper will also present the software and hardware used to support the escrow department of one particular real estate company.

For this paper I interviewed and escrow assistant of Adams and Barnes escrow. In the interview she explained the hardware and software used in the process of the paper work are required to satisfy the demands of the buyer, seller, lender and most of all, the state of California. The escrow division is made up of three employees and a manager. The real estate agents give the fully executed contracts to escrow with the buyer’s earnest money. From there, escrow proceeds to open title research and verifies the owner of record is the seller. From there escrow orders a natural hazard disclosure report. Once that phase is completed, escrow proceeds to draw escrow instructions and begins dispersing it to all parties involved. The buyer’s loan broker or lender is contacted after escrow forwards them the lenders package. Escrow begins to satisfy all conditions of the contract such as termite inspection. Once all the conditions are satisfied and the report completed and the loan documents received escrow begins to process them. The buyer signs the loan documents and escrow then proceeds to do the accounting of the seller’s net proceeds and the accounting for the buyer which is the closing costs and the down payment.

That in a nutshell is what an escrow department does for every single transaction on a daily basis. The hardware that is used to back up the personal is basic windows...