Typically, the escrow process in Savannah, GA and Chatham County takes about 30 to 60 days from start to completion. Escrow is a legal arrangement where a neutral third party, typically an escrow agent or company, holds funds or assets until specific conditions are met.Escrow is a trusted mechanism for secure and transparent transactions, providing security, payment protection, verification, and dispute resolution benefits. Worried about what an escrow account is and whether you need it? We take a closer look at how escrow, home insurance, and other costs work together. The only monies held in escrow after it is sold are the monies your lender collects to pay future taxes and insurance. An escrow account helps ensure that expenses such as your homeowners insurance premiums and real estate taxes are paid on time. On average, closing costs in Georgia run 1.3 percent of the home's sale price, according to data from CoreLogic's ClosingCorp.
