Escrow refers to a type of account in which the money, a mortgage or deed of trust, an existing promissory note secured by the real property, escrow "instructions" from both parties, an accounting of the funds and other documents necessary to complete the transaction by a date, is held by a third party, called an "escrow agent", until the conditions of an agreement are met. When the funding is complete and the deed is clear, the escrow agent will then record the deed to the buyer and deliver funds to the seller. The escrow agent or officer is an independent holder and agent for both parties who may receive a fee for their services.
This agreement is between a client and his attorney. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
In Washington, an Escrow Agreement for the Sale of Real Property — Deposit of Estimated Purchase Prices is a legally binding document used in real estate transactions to ensure a smooth and secure transfer of property ownership. This agreement acts as a safeguard for both parties involved, protecting the buyer's deposit and ensuring the seller receives the full purchase price upon completion of the sale. Here are some relevant keywords to describe the Washington Escrow Agreement for Sale of Real Property — Deposit of Estimated Purchase Prices: 1. Washington real estate 2. Escrow agreement 3. Sale of property 4. Deposit of purchase prices 5. Property ownership transfer 6. Real estate transaction 7. Buyer's deposit 8. Seller's full purchase price 9. Secure transfer 10. Legal document Types of Washington Escrow Agreement for Sale of Real Property — Deposit of Estimated Purchase Prices may include variations based on specific property types, such as residential, commercial, or industrial. Each type might have slightly different terms and conditions tailored to the nature of the transaction and the parties involved. However, the overall purpose and core elements of the agreement remain the same across these different types.
