Closing Escrow
All of the conditions of the purchase and sale agreement have been fulfilled. The escrow agent prepares a written summary of the funds received in escrow, and the moneys paid out. The agent records the new deed with the County Recorder, and delivers a new deed to the buyer. Any remaining funds from the purchase price are then remitted to the seller. When the escrow has been accounted for, title is given to the buyer.
Popular Real Estate Terms
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Right to an item belongs to the public at large so anyone can use it. An example is a real estate software program that is publicly available by an electronic bulletin board service. ...
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Same as term contract for deed: Method of selling and financing property whereby the buyer obtains possession, but the seller retains the title. ...
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Any property, tangible or otherwise, except real estate. For example, furniture or automobiles. ...
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