The service provided by escrow and settlement help protect the seller and buyer. For example, you are going to need an escrow or settlement company to act as an independent third party between the seller and you. If you don’t have the involvement of a third party, how do you know that when you hand over the money, you are going to get the deed? They will hold your deposit and coordinate much of the action that occurs during the escrow period. The third party is important to both you and the seller and both of you will pay fees to this company.  Your Jacksonville Fl real estate agent will be able to make a recommendation of companies who provide this service. The seller will also have a preference and this may be a point of negotiation in a counter-offer. Typically, one side will choose the company.