Had an indie escrow swoop in and save my bacon once—seller’s docs were missing a page, and the indie gal literally drove across town to get it signed before the deadline. Would a bank have done that? Doubtful. But yeah, I’ve also had them miss stuff that made me want to pull my hair out. Anyone else ever have a bank actually move fast when it mattered, or is that just a unicorn story?
Title: Escrow accounts—better through banks or independent services?
Would a bank have done that? Doubtful. But yeah, I’ve also had them miss stuff that made me want to pull my hair out.
That’s exactly the tradeoff I keep running into. Indie escrow folks seem way more flexible, but sometimes the attention to detail just isn’t there. I had one where an indie agent forgot to double-check the wire instructions and it delayed closing by three days—felt like forever when you’re on a tight timeline and moving trucks are lined up.
With banks, I get why people say they’re slow, but I wonder if that’s always true. The last time I used a big-name bank for escrow, it was like pulling teeth just to get a status update. On the other hand, they never missed a single document or deadline. It was almost boring how by-the-book they were, but maybe boring isn’t so bad when you’re risking thousands.
Here’s how I try to decide which way to go:
1. Figure out how complicated the deal is. If there are weird contingencies or tight deadlines, indie might be better for flexibility.
2. Ask for references from both sides—sometimes you can spot patterns in how often things go sideways.
3. Check what kind of insurance or guarantees each offers in case something gets missed.
4. Compare fees, but don’t just go with the cheapest—sometimes you get what you pay for.
Curious if anyone’s actually seen a bank hustle when it really mattered? Or is it always “computer says no” with them? Maybe there’s some middle ground—like smaller regional banks that aren’t as rigid as the big guys but still have decent systems in place?
