What is Escrow?

If you’re in the process of buying a new home, you’ve probably heard the term “escrow” a few times. But what does it mean? Escrow is a term that describes the neutral third-party handling of funds, documents, and tasks specific to the closing (or settlement, as it is also known), as outlined on the real estate purchase agreement or sales contract. The purpose of escrow is to facilitate the transaction by managing the disbursement of funds and documents.

Why do I need Escrow?

Escrow is a fundamental service that protects and establishes peace of mind for all parties involved in the purchase transaction. The escrow provider may have a duty to arrange and/or track the requirements and contingencies outlined within the purchase agreement. These might include home inspections, the purchase of homeowners insurance, the completion of negotiated repairs, and financing requirements. This process reassures buyers and sellers that documents needed to complete the transaction will only be distributed to the appropriate parties once both parties agree that the required conditions have been met.

Contact an Escrow Officer

Want more information about IHL Escrow? Contact our team today.

Best Practices

We believe the best practices set by ALTA protect consumers, promote quality, provide training, and meet legal and regulatory requirements. These practices ensure a positive compliant real estate settlement experience for everyone.

Advantages of working together

As a member of the Century Communities group of companies, IHL Escrow is part of the One-Stop-Shop advantage that simplifies many processes. We manage and oversee the escrow needs of the Central Valley and Southern California region for Century Communities and share their commitment to customer service. Working with the Century Group of Companies will streamline your transaction and is usually the most cost effective.