|
|
escrowBack Up
Back to Main List
Escrow
Escrow is a term many home buyers/sellers get familiar with during the home buying selling process. By definition, Escrow is for Documents, assets, or securities deposited with a neutral third party (escrow agent) to be delivered when certain conditions have been met, as stated in a written agreement. Escrow requires an escrow agent/company.
The principals to the escrow involve buyer, seller, lender and borrower, to creat written escrow instructions, then delivered to the escrow officer. If a real estate broker is involved, he will provide the escrow officer with the information needed for the preparation of escrow instructions and documents.
The escrow officer will then process the escrow, in compliance with escrow instructions. When all escrow conditions are achieved, the escrow will be "closed." And real estate transaction is completed.
|
Escrow
© 2005 Back
|
:
