An escrow is the deposit of a written instrument or something of value with a third person with instructions to deliver it to another when a stated condition is performed or a specified event occurs. The use of an escrow is most common in real estate sales transactions
Absolutely! You can choose your own escrow company. Just think of it as picking your favorite restaurant – you want a place that suits your taste and feels right for your situation.
Having an escrow agent is highly recommended. They help keep things running smoothly, just like a referee at a game, making sure all parties follow the rules.
If the buyer decides to back out, the escrow officer will look at the agreement to see who gets what. It’s like drawing straws – there are rules in place to determine who wins, or in this case, what happens next.
Typically, the escrow process in Anaheim takes about 30 to 45 days, depending on the specifics of the deal. It’s a bit like waiting for your favorite show to come back, sometimes it just takes a little time!