By Randy Kidman | Escrow Officer | St. George Office

es∙crow /‘eskro/ noun –1. a bond, deed, or other document kept in the custody of a third party, taking effect only when a specified condition has been fulfilled.
verb -1. place in custody or trust

“I want to sell my house and you want to buy it. I want $X and you want to give me $Y. You want… I want… We finally agree and “open escrow” at Vanguard Title.”

Buying and selling a home can be a tricky proposition. There are many moving parts that all must eventually come together in the precise manner that both parties agree to. Escrow is the tool, or perhaps better yet, the tool box that holds all the terms and conditions of a purchase agreement. Those items, such as, the fully executed REPC and Addenda, Earnest Money, Warranty Deed, Trust Deed, Lender Funds, Seller Funds, etc., are held in escrow by an impartial, third party to the transaction, until all the conditions of the sale have been met. Deeds get recorded, payoffs get sent, sellers get their proceeds. Another successful transaction… but wait! Not all transactions close or fund. What happens now? Call any of the Escrow Officers here at Vanguard Title and let us help you navigate your next “open escrow”!

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