Think of escrow as your middleman or the neutral zone between two parties during real estate transactions. An escrow company can hold deeds, bonds, money, or even a piece of property on behalf of the original owner and then release it once all obligations have been met by both parties. By hiring an escrow company, the buyer is required to put up the funds or whatever is being offered from his/her end, but the seller does not receive that money or property until the agreed-upon conditions have been met

In practice, escrow services aim to protect the interests of all parties involved in a particular real estate transaction. From the buyer’s side, having an escrow account guarantees that you will actually get what you pay for and to ensure that the terms and conditions of the transaction are adhered to. Escrow agents are tasked with holding all critical documents and deposits and guiding the involved parties through working out details. An escrow agent is a neutral third-party who can facilitate communication and finalize even the most difficult transactions.

When all the terms and conditions have been met, the escrow agent will disburse the funds to the seller and the property deed or asset title to the buyer. To make the transaction official, the escrow agent will also record the paperwork with the county and state so that the new property ownership is recognized by governing bodies worldwide.

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