The process of opening escrow isn’t as intimidating as it may seem. In fact, there seems to be some sort of fog surrounding escrow, keeping it in the dark. This is a process that shouldn’t be feared or hesitated with. In all reality, it is designed to keep the buyer and seller safe. The primary goal is to ensure the purchasing process goes as smooth as possible.
After the purchase of a home and the acceptance of the offer, the opening of an escrow account begins. The first step requires both the buyer and seller to agree to hire an escrow company both parties are happy with. The agent will contact the escrow company decided upon, and they will assign an escrow number. The escrow number is specific to each and every case.
The escrow company exists to adhere to the terms of the contract and help guide the buyer/seller towards a successful closing.
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