Escrow
Neutral third party that holds funds and documents until all contract conditions are met for closing.
In Southern Nevada, escrow/title companies often coordinate signing, payoffs, and recording with the county.
Escrow sends a preliminary settlement statement showing credits, debits, prorated taxes, and title charges. Compare it to your loan estimate and ask questions early.
Earnest money, loan funds, and seller proceeds flow through escrow according to the written instructions all parties sign.
Related terms
Need this explained for your deal?
Call Dr. Jan Duffy at (702) 842-1192 or visit askdrjanduffy.com for Q&A.