Escrow, closing or settlement services occur after the buyer and seller have executed a contract for the sale of real estate or after a lender has agreed to refinance or provide to a borrower a loan secured by real estate. Escrow, closing or settlement services are those administrative and clerical services required to carry out the terms of contracts affecting real estate. These services include, but are not limited to:

placing orders for title insurance;

receiving and issuing receipts for money received from the parties;

ordering loan checks and payoffs;

ordering surveys and inspections;

preparing settlement statements;

determining that all closing documents conform to the parties' contract requirements;

setting the closing appointment;

following up with the parties to ensure that the transaction progresses to closing;

ascertaining that the lender's instructions have been satisfied;

conducting a closing conference at which the documents are executed;

receiving and disbursing funds;

completing form documents and instruments selected by and in accordance with the instructions of the parties to the transaction;

handling or arranging for the recordation of documents;

sending recorded documents to the lender;

sending the recorded deed and the title policy to the buyer;

reporting federal income tax information for the real estate sale to the Internal Revenue Service.