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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Written agreement between two or more parties to extend the terms of a document. ...
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In a principal gent transaction or contract where a third party knows the name of the principal the agent represents. This is a typical setting in real estate situations. In this ...
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