REALTOR, CRS, GRI, RECS
"Going The Extra Mile Every Client, Every Time!"
Heritage Sotheby's International Realty
780 Trancas Street
Napa, CA 94558
Each Office is Independently Owned
Buying Real Estate in the Napa Valley
What is Escrow?
Escrow is the depositing of funds and documents by the parties with a neutral third party for delivery upon completion of the terms of the escrow instruction. The word escrow is derived from the French word "escroue" meaning a scroll or roll of writing.
When the parties deliver documents and money to the Escrow Officer to be held for further delivery until certain conditions have been met, we say the documents are held "in escrow". We may also say the parties have "opened an escrow". Each of the principals of the escrow (seller, buyer, lender) will give to the escrow holder written instructions setting out the conditions under which further delivery is to be made. These instructions are usually typed by the Escrow Officer of the Escrow Assistant from oral information supplied by the principals or from a contract signed before they arrived at the escrow office.
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