| Summary: | 碩士 === 長榮大學 === 土地管理與開發學系碩士班 === 102 === Abstract
Due to the characteristic of high transaction price, various transaction attributes, long trading process, various stakeholders in transaction, and diverse regulations in real estate market, it is difficult for consumer to understand completely and is also common for high dispute rate in real estate transaction. Currently, the “House Price Escrow System” from the well-known Escrow System in the U.S. has been expected to remove risks from real estate transaction process and also expected to construct a new transaction order in real estate market.
Based on data collected from 162 experienced interviewees in this system, we provide statistical analysis on risk perceptions, regulation confidence, and current effectiveness. Combining with in-depth interview, risk statistics data, and case study, we try to explore consumer perceptions on this system and the relationship between adopting this system and reducing transactions risk.
The result of analysis indicates that: (1) Since payment is managed by Escrow account in financial institutions, the fund flow is transparent. The system can effectively simplify transaction procedure and enhance consumer’s trust and security. (2) Since there is no special law to regulate the impartial third party, the role of Escrow agent in the system is faded gradually. Consumers also have little knowledge about the establishing purpose and main function of the agent. (3) The warranty does not cover defections, which is different from consumers’ expectations. However, buyers and sellers have significant diverse opinion and passive thought when payments, such as assurance to ensure interest, are involved. (4) This system is indeed effectively reducing risk in real estate transactions, especially the risk related to payments.
Keywords: Escrow, Escrow agent, Title company
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