The title companies are responsible for receiving and keeping all deposits of money made in a transaction; also title and escrow companies are responsible for preparing all documentation for the closing of a property, clean any cloud or lien the property might may have; secure the property title for the new owner,; disburse the money at closing to the respective parties, record the new title of property in the Clerk of Court where the property is located, etc.
Be advised that under no circumstances should you give money or write a check for the purchase of a property to an individual or company other than a title company, attorney’s office or real estate company. The escrow deposit ALWAYS must be delivered to any of those companies that you might be working with.
Be sure to write the address of the property you are purchasing on the check or wire transfer.