Escrow is a legal arrangement in which a third party temporarily holds a sum of money or property until a particular condition has been met, such as the fulfillment of a purchase agreement. It is designed to protect both the buyer and the seller in a real estate transaction.

Escrow is a large part of the homebuying process. It happens when a third party holds something of value during the transaction. Most often, the โ€œvalueโ€ the third party holds onto is the buyerโ€™s earnest money check. When the transaction is complete, usually at closing, the third party will release those funds to the seller.

Share This
About The Author
Portia Green, REALTORยฎ

Portiaโ€™s clients all have a similar story. Most likely, you met her huddled around a tablet at the dinner table yet she feels like a friend. Her personable nature and easy going approach attract Sellers and Buyers alike, in what can be a stressful and emotionally charged event. A talented REALTORยฎ with 16 years experience, Portia is just as excited about real estate today as she was with her first transaction. She remains ever-committed to helping her clients find their place in the world and helping busy people navigate this crazy real estate market like a pro.