Out Of State Escrow: Don’t Lose Your Earnest Money!

stacks of coins with the word escrow isolated on white background

I have seen a rash of out of state escrow companies closing Oregon property transactions.

If the escrow company proposed by the other side isn’t one of the usual suspects, check the OREA website to see if the escrow company is licensed in Oregon.

If not, advise buyers or sellers to object to using the unlicensed escrow company.  Even more  importantly, don’t let your client send earnest money out of state.

Getting the money back may well require getting a judgment in Oregon and then paying an out of state attorney to register the judgment in another state in order to collect.

Leave a Reply