Understanding Escrow The Seven Steps to a Successful Close Escrow
A neutral third party who makes sure that all obligations of a contract are fulfilled before money or property changes hands.
Buyer and Seller Agree to terms.
Buyer Pays Escrow Account.
Escrow instructions & grant deed are signed.
Escrow Officer manages account And request documents.
Offer is accepted and loan docs are sent to Escrow Officer.
Detailed Loan amount is Secured & shared with seller.
Escrow releases Funds to seller.