What is an Escrow Company?

There are many regional differences in the home buying process and this is one. Some states have lawyers who play a large role in the transaction.  Here we use a third party neutral escrow company during the time period starting with the acceptance of an offer and ending when the transaction closes and records.  The escrow companies are regulated and have the ability to accept, hold and disburse funds.  Your Realtor will recommend a few companies they work with regularly, but know it is customary for the seller to choose the escrow company.  Though the companies are neutral don’t be surprised if you are required to sign a disclosure stating the escrow company is affiliated with your Realtor’s brokerage.