How Escrow Works

A Secure, Structured Process from Opening to Closing

Escrow provides a structured process for holding and transferring funds and documents while the conditions of a transaction are completed.

Why Is Escrow Used?

Escrow is a process in which funds, documents, or other assets are held by a neutral third party while the conditions of a transaction are fulfilled.

The escrow process is designed to provide structure and security during a transaction. Rather than funds or documents moving directly between the parties before the agreed conditions are satisfied, they are handled according to the applicable escrow instructions and transaction requirements.

Once the required conditions have been satisfied, the escrow agent follows the authorized instructions for completing the transaction and disbursing the funds or documents.

Escrow helps provide a controlled process for transactions involving significant funds, documents, property, or other assets. It helps establish clear procedures for receiving, holding, reviewing, and releasing transaction items according to the terms and instructions governing the escrow.

What Is Escrow?

The Escrow Process

From the opening of escrow through completion, each transaction follows a structured process.

Step 1: OPEN ESCROW

Establishing the Transaction

Escrow begins when the parties provide the information, agreements, and documentation necessary to establish the transaction.

The escrow agent reviews the information provided and establishes the escrow according to the applicable instructions and requirements.

What happens:

Transaction information is provided
Applicable agreements and instructions are received
Required parties and contacts are identified
Escrow requirements are established.

Step 2: DEPOSIT FUNDS & DOCUMENTS

Securing the Transaction Items

The parties provide the funds and documents required under the transaction instructions.

Funds and documents are received and handled according to the applicable escrow procedures and instructions.

What happens:

Required funds are deposited
Transaction documents are received
Documentation is maintained as required
The escrow remains subject to the applicable instructions and conditions

Step 3: Review Your Options

After your consultation, we’ll guide you through suitable mortgage options based on your situation.

We help you understand the key details, such as terms, repayment structure, and general expectations, so you can move forward with confidence.

Step 2: Get Expert Guidance

Once we receive your request, one of our mortgage advisors will review your information and contact you to discuss your options.

During your consultation, we’ll explain available mortgage solutions, answer your questions, and help you understand what may work best for your financial goals.