Some banks are reluctant to accept the responsibility of being an escrow agent. This may be due to perceived liability, or it may be the result of a financial decision that the fees generated do not warrant the time required to monitor the terms of the escrow. Also, many banks prefer relationships that are long lasting, and most escrow arrangements are of relatively short duration.
At First Western Trust, we are always available to discuss the duty of serving as an escrow agent. Our fees are determined on the basis of the anticipated activity necessary to fulfill the terms of the escrow — some escrows are a single transaction while others may involve a series of transactions. Frequently, our escrow services are based on a flat fee negotiated and disclosed prior to acceptance of the relationship.