escrow process
Third-party fund custody
The escrow process is the series of steps by which a neutral third party holds funds or documents until all conditions of a transaction are met.
Most commonly encountered in real estate: a buyer deposits money with an escrow agent, who releases it to the seller only when the deed transfers.
We're in escrow on the house.
The process protects both parties by ensuring neither delivers without receiving.
- buyerOne who acquires things
- depositPlace for safekeeping
- verificationProving something accurate
- contractEnforceable written agreement
- conditionState or stipulation
payment · closing costs · contingency · home inspection · due diligence · seller · real estate transaction · agreement · release · collateral · notarization · clear title · borrower · timeline · lender · compliance · disbursement · refund
escrow processdirect payment
Funds transferred without intermediary
cash on delivery · direct transfer · peer-to-peer payment · cash deal · wire transfer
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