How Escrow Works

Once your offer on a home or other real property has been accepted by the seller, your transaction is then placed into “escrow.”

“Escrow” is a term that describes the neutral third-party handling of funds, documents, and tasks specific to the closing (or settlement, as it is also known), as outlined on the real estate purchase agreement or sales contract. The purpose of escrow is to facilitate the transaction by managing the disbursement of funds and documents.

Learn more about the escrow process with this easy-to-read-infographic.