What is Escrow?
Escrow is the deposit of funds or deed by one party for the delivery to another party upon fulfillment of certain conditions.
In short, a seller would prefer not to convey title to a buyer until they are sure that the buyer has paid the purchase price in full and a buyer would prefer not to pay money to a seller directly until they can be assured that they are receiving a deed and clear title to the property. Escrow is the neutral third party appointed to collect funds from the buyer to remit to the seller (and any other necessary parties) upon signing the deed and fulfilling all closing conditions. There are various steps that must happen behind the scenes before arriving at the actual closing date, once you find your perfect house.
Feel free to call and speak with one of our Closers for an in depth explanation of the importance of having an experienced, knowledgeable, and professional escrow team handling your transaction.