Blog Stories What is Escrow?

What is Escrow?

By Tosha Reinmiller, April 1, 2018

You hear the term ‘Escrow’ all the time when dealing with real estate terms, but what exactly is it and why does it exist? Escrow was put into place to make sure that both parties in a transaction are protected, respected and most importantly, kept on task.

Escrow is defined as, a trusted third party whom the buyer and seller ensure the deed and funds for the transaction to, until the appointed appropriate time. Once the specific escrow demands have been completed, meaning the seller signs over the deed and the buyer signs over the money, and the transaction is recorded by the chosen third party the transaction is officially completed.

Escrow is similar to PayPal, a safe place that keeps track of two different parties valued items, until it’s time for the transaction to be completed. This was a brief look into the world of Escrow, which at times can involve more extensive explanation. If you’re curious and would like to discuss this topic, or any of our blogs further, feel free to give me a call or stop by and say hi!

Tosha Reinmiller
Principal Broker
Living Room Realty – Manzanita
507 Laneda Ave Suite #4
(541) 231-5829
tosha@livingroomre.com

Tosha Reinmiller

Principal Broker | OR

She/Her

ABOUT TOSHA Tosha specializes in the coastal communities of Manzanita, Cannon Beach, Nehalem, Wheeler, Arch Cape, Rockaway Beach and the surrounding areas in Tillamook County...
Read More
  • T: 541-231-5829
  • F: 503-961-8224
  • tosha@coastlivingre.com

You might also enjoy

Community Shred Event 6/8!

Marissa Sainz

Join us for a free community shredding event where you can safely dispose of your confidential...

Just Listed!

The Twin Team

20920 NW Nolana Ct. Portland, Oregon, 97229 Impeccable one level in Rock Creek! Open concept floorplan...

Navigating Real Estate with Tenants? Here’s Why You Need to Know About Estoppels

Will Sing

What Is an Estoppel? If you’re involved in real estate transactions, especially those with multi-family properties...

Just Listed! Rare Opportunity on Riverside

Zia McCabe

501 S. Riverside St. Portland, Oregon, 97219 Tucked into Portland’s tranquil Collins View neighborhood, 501 S....