Buying Your First Home: Escrow

Buying Real Estate
So you found the perfect home, now what? If you haven't found a home yet feel free to browse our powerful Portland Home Search Tools or simply give us a call and we'll be happy to help you find what you're looking for. What Is Escrow?* At the risk of oversimplification, escrow makes sure the seller gets paid and the buyer gets the house as outlined in the Real Estate Sale Agreement. A more detailed description follows. Merriam Webster defines an escrow as money or property held in trust by a third party to be turned over only upon fulfillment of a condition. In real estate transactions, a Title Insurance Company serves as this independent party; "insuring" that the buyer gets legal ownership of the property and the seller gets…
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