Real Estate Terms Glossary
What is an Escrow?
We can define escrow as a legal and financial arrangement where a neutral third party temporarily holds a large amount of money or property until some predefined conditions are met. In real estate, escrow is used to protect both buyers and sellers during the home buying process.
In most cases, escrow includes documents, such as a deed, or something valuable, usually money that a neutral third party holds to be used in the future to fulfill an obligation.
Examples of Escrow
- Example 1: Property deeds
- Example 2: Down payments
Here’s Investopedia’s definition of an Escrow .
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Marlene G.
Highly skilled Real Estate Counsel delivering favorable outcomes for clients in real estate transactional matters. Extremely effective negotiator, detail oriented and a licensed real estate broker. Served as In-House counsel for an international real estate development company for more than 10 years.
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Romina S.
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Darren S.
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