Before an escrow agent receives any money, both parties must have formed an agreement to determine the agency’s specific duties. The funds can then be released to the seller of the property.
Unlike a residential sale, construction escrow is unique for every single deal. A few standard agreements will include a clause appointing a title agent as an acting escrow agent to waive fees. You can discuss all of this with the knowledgeable staff at River City Title when the time comes.