Escrow Assistant - Chicago, IL (Hybrid)

Real is a fast-growing national real estate brokerage powered by technology. Real is currently operating in all U.S. states, Canada, and the District of Columbia. Founded in 2014, Real is a trailblazer in the Residential Real Estate industry, as we lead the disruption with our cutting-edge technology platform. We are on a mission to revolutionize the home-buying and selling process, making agents' lives better while creating lucrative financial opportunities for them. For more information, visit Location: Chicago, Illinois - Hybrid. Candidates must be based in the Chicago metro area to be considered. Job Summary: As an Escrow Assistant, you will play a crucial role in facilitating real estate transactions by ensuring the smooth handling of funds and documents between buyers, sellers, lenders, and other involved parties. Your primary responsibility will be to coordinate and manage the escrow process from start to finish, ensuring compliance with all relevant laws, regulations, and company policies. Duties/Responsibilities Escrow Management: Open and maintain escrow accounts for real estate transactions. Review contracts, purchase agreements, and other related documents to gather necessary information. Calculate and verify the accuracy of financial figures, including deposits, prorations, and closing costs. Coordinate with lenders, real estate agents, attorneys, and other stakeholders to obtain required documents and information. Ensure all parties involved in the transaction are informed about the status of the escrow process. Document Preparation and Review: Prepare and review escrow instructions, amendments, and other relevant documents. Examine title reports, surveys, and insurance policies to identify potential issues or discrepancies. Coordinate with title companies to obtain title insurance and ensure proper coverage. Verify the accuracy and completeness of all documents related to the transaction. Fund Disbursement and Accounting: Calculate and allocate funds for various transaction components, such as down payments, commissions, and fees. Coordinate with lenders to ensure timely funding and receipt of loan proceeds. Prepare closing statements and settlement statements accurately reflecting all financial details. Disburse funds to the appropriate parties upon completion of the escrow process. Maintain accurate records of all financial transactions and ensure compliance with accounting principles. Compliance and Communication: Stay updated on relevant laws, regulations, and industry practices related to escrow and real estate transactions. Ensure compliance with all applicable legal and regulatory requirements. Communicate effectively and professionally with clients, real estate agents, lenders, and other stakeholders to provide updates on the escrow process. Address any inquiries, concerns, or issues promptly and professionally. Required Skills/Abilities: High school diploma or equivalent (Bachelor's degree in a related field is a plus). Proven experience as an Escrow assistant or in a similar role within the real estate industry. Strong knowledge of escrow procedures, real estate transactions, and relevant laws and regulations. Familiarity with escrow software and other relevant tools. Excellent organizational and time management skills to handle multiple tasks and deadlines. Attention to detail and accuracy in reviewing documents and financial figures. Strong communication and interpersonal skills to interact effectively with various stakeholders. Ability to work independently and as part of a team in a fast-paced environment. Proficiency in using computer systems and software, including Microsoft Office Suite. Education and Experience: High school diploma or equivalent (Bachelor's degree in a related field is a plus). Proven experience as an Escrow Processor or in a similar role within the real estate industry. Strong knowledge of escrow procedures, real estate transactions, and relevant laws and regulations. Must-Have: Ability to truly encompass our Company Core Values Work Hard. Be Kind "We" are bigger than "me" Tech x Humanity Physical Requirements: Sit for long periods of time One Real Title is proud to be an equal opportunity workplace employer. We are committed to equal employment opportunities regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, or Veteran status.

Created: 2024-11-04