US
Escrow
Escrow is the neutral holding of money and documents in a US purchase until the conditions of the contract are met. An escrow officer or a title company often runs it. It is not the British exchange of contracts.
What agents chase
Earnest money deposited, inspection deadline, appraisal, loan documents, and the closing date. The agent coordinates. The escrow holder handles the funds. Do not tell a client funds have been released because a removal van has arrived.
British readers
If a UK client is buying in the US, explain that escrow is the process between the accepted offer and closing, and point them to their own attorney or title company for what the contract requires.
Questions
What does Escrow mean?
Escrow is the neutral holding of money and documents in a US purchase until the conditions of the contract are met. An escrow officer or a title company often runs it. It is not the British exchange of contracts.
General information for agency staff, not legal advice. Rules and local practice change. Check the official source before you rely on a definition in a client letter.