Escrow Services

Primer | Process | Tasks | Essentials

Escrow Primer

When escrow involves real estate, it refers to money and documents that are held by an impartial third party during the course of a real estate transaction. Once the transaction is complete, funds and documents are disbursed.

Your escrow agent makes certain the property is being transferred according to mutual instructions and acts as a depository for funds and documents to complete the closing. The fee for this service is generally divided between the buyer and seller in the transaction, although the parties can agree to other arrangements and instruct the escrow agent about the terms of the agreement. The escrow fee is based upon the sale price of the property or the amount of a new loan.