What is Escrow?

Posted on | December 12, 2016

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An escrow, sometimes referred to as a closing or settlement, is an arrangement in which an impartial third party called an escrow holder, holds legal documents and funds on behalf of a buyer and seller and / or lender. The funds are distributed and documents are recorded only in accordance with the written instructions received from the parties, thus completing the transaction.

People buying and selling real estate often open an escrow for their protection and convenience. All parties rely on the escrow holder to faithfully carry out their mutually consistent instructions relating to the transaction or to advise them if any of the instructions are contradictory or cannot be completed.

Once all the terms and conditions of the written instructions of all parties have been fulfilled, and all closing conditions satisfied, the escrow is closed and the transfer of property and money is accomplished.

Escrow Service Features:

  • Immediate order confirmation
  • Continuous transaction monitoring and reporting
  • Timely preparation of instructions, closing documents, and amendments
  • Rigorous quality control measures to ensure accuracy
  • Coordinated closings
  • Verified disbursement of proceeds

For more in depth education on title and escrow, please contact your local AmeriTitle office.

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Recognized as a trusted resource for settlement services in the Pacific Northwest, AmeriTitle’s convenient locations in Oregon, Idaho, and Washington offer superior service and local expertise in all aspects of escrow, title insurance, and mapping services.

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