Escrow is a way of transferring or exchanging property and/or money using a neutral third party. In many jurisdictions, escrow agents constitute a distinct profession with its own training and accreditation requirements.The escrow process is covered by significant regulation and protection through the use of licensing and/or bonding.

When a home or property changes hands, the seller of the property transfers the property title to the escrow agent. Similarly, the buyer either transfers funds or has a bank transfer mortgage proceeds to the escrow agent. When all conditions of the purchase agreement are met, the escrow agent assigns the property title to the purchaser and distributes the funds to the seller. Typically you will need to sign all of your papers with the escrow company at least one business day prior to the closing date listed on your purchase and sale agreement.

Please keep in mind that the majority of escrow companies are open only Monday thru Friday from 9am- 5pm (meaning the last appointment of the day typically begins at 4:00pm.)