What is the Lien Payoff Service?
By using the Lien Payoff Service, the Buyer and Seller guarantee that the current lien holder will be paid off at the close of the transaction.
After the transaction is started and the Lien Payoff Service requested, Escrow.com will contact the Seller to retrieve lien holder contact and account information by requesting Title Release Instructions. Escrow.com contacts the current lien holder to confirm payoff amount and payoff instructions. At the close of the transaction, Escrow.com sends the payoff check to the lien holder via next business day courier. Escrow.com also includes the Title Release Instructions which requests the title be sent to the new Buyer. Any balance would be sent to the Seller.
Please note that not all lien holders allow the title to be sent directly to the new Buyer, some require the title be sent to the Seller. Lien holders may hold the title until payment clears.
For any questions, contact Customer Support toll-free 888-511-8600.