In Escrow

Definition of "In escrow"

The phrase used for the period in which the escrow agent communicates to both the buyer and the seller as to what documents or moneys have to be deposited with the escrow agent to satisfy the terms of the purchase and sale. The items collected include moneys to cover mortgage insurance premiums, taxes, hazard insurance, and title insurance. Title Insurance assures that no other person or entity has an ownership right to the property, confirmation that the seller has obtained an adequate loan to pay the purchase price, the property has been inspected for termites, and seller's original deed has been obtained.

Search Real Estate Glossary

Related Real Estate Glossary terms

Mutual Mortgage Insurance Fund

Fund that insures mortgages on homes for one to four families; also insures property improvement loa ...

Worry

State of anxiety and distress. One goal of adequate insurance is to eliminate, or alleviate, worry o ...

Discriminatory Inducement

Real estate property incentive offered for reasons other than individual merit. A discriminatory in ...

Gross National Product (gnp)

Total value of all goods and services produced by companies located in the United States as well as ...

Diagnosis Related Group

Method of determining reimbursement from medical insurance according to diagnosis on a prospective b ...

Judicial Foreclosure

Property of a defaulted borrower is sold under court order, and the judge must approve the amount re ...

Related Real Estate FAQ

What Type Of Life Insurance Is Right For Me?

A life insurance policy can help enable your family to remain financially if you or your spouse shou ...

What Is A Lifetime Rate Cap?

A lifetime rate cap is an adjustable-rate mortgage (ARM), this cap limits the amount the interest ra ...

What Is A Credit Report?

A credit report is a report of all your debt information compiled by an independent agency. The cred ...

What Is Comprehensive Homeowners Insurance?

Comprehensive is the most expensive type of homeowners insurance; it covers the most potential damag ...

What Is The Tax Benefits Of Buying A Home?

RealEstateAgent.com calculator estimates the tax benefit of buying a home. Input your loan parameter ...

What Are Comparables Or Comps?

Recently sold properties that are similar in size, location, and amenities to the home for sale. The ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

6 Reasons you are not selling properties What Must I Disclose When Selling My Home? Why Use a Real Estate Agent? 3 tips to ensure your sale goes through 7 Tips for a First Time Homebuyer

FAQ

What is a wraparound mortgage? What do I need to know about Universal Life Insurance? What is the difference between being prequalified and preapproved for a loan? What is a sales contract? What do I need to know about Business Insurance?