How Does Escrow Work?

Understanding Escrow

Updated over a week ago

Escrow is an arrangement in which a neutral third party, called an escrow holder, holds legal documentation and funds on behalf of a buyer and seller. They temporarily hold funds until specific conditions are met, usually the fulfillment of the purchase agreement. Escrow simply records the title change with the county.

Escrow does not represent or advise the seller, the buyer or manage your paperwork. This is why listing agents and buyer agents are still around. Once an offer is accepted and an escrow is open, these agents are like legal counsel for their clients.

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