What are the responsibilities and job description for the Commercial Escrow Officer position at Interactive Resources - iR?
Position Overview
Seeking an experienced real estate transaction professional to support and coordinate complex escrow matters involving commercial and multi-site properties. This role manages detailed closing activities, document flow, compliance review, and coordination with lenders, attorneys, and clients through settlement.
Primary Functions
- Coordinate and finalize sophisticated real estate escrows tied to commercial loans and multi-parcel transactions, reviewing layered conditions and contractual terms.
- Draft customized transaction instructions reflecting party intent and secure approval prior to execution.
- Oversee creation, review, and distribution of settlement documents including agreements, disclosures, funding statements, and legal instruments.
- Verify adherence to title commitments and resolve inconsistencies by coordinating lien releases, document corrections, and required recordings.
- Supervise execution and submission of deeds, notes, trust instruments, and related filings with appropriate authorities.
- Calculate and allocate prorated financial items such as interest, insurance, rents, and tax adjustments.
- Assist with system setup and data entry for special escrow initiatives and construction-related transactions.
- Support and review disbursement files for construction or phased loan funding.
- Compare survey data to legal descriptions to confirm accuracy.
- Provide guidance or oversight to junior escrow staff when assigned.
- Participate in off-site or alternate-location closings as business needs require.
- Engage with existing or potential commercial clients to explain services and identify insurance or closing needs in line with office outreach initiatives.
File Processing & Closing Support
- Initiate and organize new transaction files, gathering required data from all involved parties.
- Prepare and circulate escrow instructions, lender documentation, and supporting materials.
- Balance and reconcile escrow accounts; generate closing statements detailing credits and debits.
- Distribute funds, policies, statements, and recorded documents to appropriate recipients.
- Track post-closing follow-up to ensure transaction completion and policy issuance.
- Answer inquiries regarding transaction status, procedures, and services offered.
- Perform administrative support including document filing, correspondence, call handling, and case logging.
- Maintain accounting records for construction disbursements when applicable.
- Assist or independently conduct lower-complexity closings as directed.
Required Knowledge & Capabilities
- Strong understanding of title insurance purpose, escrow workflows, legal documentation, and settlement calculations.
- Working knowledge of regional real estate closing practices, mortgage lending fundamentals, and underwriting concepts.
- Ability to interview transaction participants and manage timelines under minimal supervision.
- Proven analytical skills to interpret complex terms and mitigate financial risk.
- Clear, professional communication skills—written and verbal.
- Proficiency with personal computers and standard office software applications.
- Accuracy in arithmetic calculations and document preparation.
Education & Experience
- High school diploma or equivalent required; coursework in math or bookkeeping preferred.
- Minimum five years of escrow-related experience, including at least three years managing large residential or commercial closings.
- Additional education in real estate law or principles is a plus.
- Equivalent combinations of education and experience will be considered.