Escrow

Business / Real Estate / Escrow: The process by which money and/or documents are held by a disinterested third person (a stakeholder) until satisfaction of the terms and conditions of the escrow instructions (as prepared by the parties to the escrow) have been achieved. Once these terms have been satisfied, delivery and transfer of the escrowed funds and documents takes place. Although is some states a real estate broker is authorized to handle escrow functions, the common practice is to employ the services of a licensed escrow company, title company or lending institution.

Escrow Agent-Officer

Business / Real Estate / Escrow Agent-Officer: An individual qualified to perform all the steps necessary to prepare and carry out escrow instructions. Tasks include obtaining title insurance, securing payoff demands, prorating taxes, interest, re MORE

Escrow Instructions

Business / Real Estate / Escrow Instructions: In a sales transaction, a writing signed by buyer and seller that details the procedures necessary to close a transaction and directs the escrow agent how to proceed. Sometimes the buyer and seller ex MORE

Escrow Fee

Business / Real Estate / Escrow Fee: A fee covering all the usual escrow services except for title insurance. The fee is normally determined by the amount of money involved in the transaction. MORE

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