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What is the escrow fee?

What is the escrow fee?

escrow Fee refers to the funds of the buyer of a house held by the title company pending the fulfillment of the transaction. An escrow account is essentially a holding tank. During a real estate transaction, the escrow officer—usually a lawyer or title company representative—holds all the important title documents and escrow fees while the buyer and seller work out the details. The escrow officer makes sure the closing goes smoothly and everyone gets paid what they’re owed. After the closing, the escrow agent records the deed and title transfer that make the home officially yours.

Notice: This website contains general information about possible legal and financial matters. The information is not advice, and should not be treated as such. You must not rely on the information on this website as an alternative to legal or financial advice from your attorney, accountant or other professional legal services provider. If you have any specific questions about any legal and financial matter you should consult your attorney, accountant or other professional legal services provider

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