Page 11 - Judy's Buyers Guide
P. 11
What is an Escrow?
Escrow refers to the use of a neutral third party to hold the deposit of funds, a deed, and other instruments by one party until the other party has completed a specific condition
or event. When that happens, the Title Company working in conjunction with escrow, transfers title to the property to the new owner. Escrow provides a garantee that no funds or property will change hands until ALL of the terms and conditions as previously agreed upon by the two parties have been completed.
The choice of escrow company is typically up to the seller, but if permitted, we highly rec- ommend using our services. We have our own subsidiary escrow company which offers many benefits to help ensure a smooth transaction!
