The Escrow Process
The escrow process was developed to help facilitate the sale or purchase of a home.
An escrow is an arrangement wherein a neutral third party, called an "escrow agent" is appointed to hold legal documents and funds on behalf of a buyer, seller, and lender.
It is the job of the escrow agent to remain completely impartial to make sure the terms and conditions of all escrow instructions have been complied with.
They are also responsible for coordinating and collecting the funds and documents necessary for closing and signing the buyers and sellers.
Once all conditions are satisfied, the title is transferred and all funds and documents are disbursed.
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