In addition to Title Insurance, Fidelity Title Agency of Alaska provides Escrow Settlement Services or closings. An escrow agent is a neutral third party who holds funds or documents deposited by two or more parties until specific conditions have been met. Our escrow department acts as the middle man between buyer, seller, and lender. A seller deposits an executed deed (or conveyance document), the buyer deposits funds and executed loan documents, and a lender deposits funds. Once all documents and funds have been deposited and all lender or other conditions have been met, the escrow (or settlement) agent records the deed, disburses funds, and releases documents to the proper entity. The escrow agent also works with the seller to clear any outstanding liens of record before the ownership passes to the buyer.
The nature of our business is highly confidential; we do not discuss or disclose any customer’s business with people who are not a party to their transaction. We do not represent one party or the other nor can we give professional or financial advice to customers.