What?
Today, you sign a contract to buy or sell a house. And someday, the house will be officially sold (or purchased). That waiting period between “today” and “someday” is commonly called “escrow.”
1
The buyer may need to get a loan.
2
The seller may have his or her own loan that must be paid off from the proceeds of sale.
3
And certain property conditions might need to be inspected, verified or even repaired.
In other words, while buyers want to buy, and sellers want to sell, there are issues and items that have to be verified, resolved and completed before a deal can be finalized.
All of those contingencies are worked out during the escrow period when we (as the “escrow holder”) serve as the central point of contact for gathering money, documents and data.
The answer is Forefront Escrow.