Real Estate Glossary

What is Escrow Closing?

Escrow closing is the final step in a real estate transaction, when the buyer and seller complete all of the necessary paperwork and the escrow agent releases the funds and documents. At this point, the buyer becomes the legal owner of the property, and the seller receives the purchase price. The escrow closing is usually held at the office of the escrow agent, who will guide the parties through the process and make sure that everything is done correctly.