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. The escrow process is the period of time between the acceptance of a purchase agreement and the closing of the sale.The assigned escrow agent is a neutral third party who ensures all conditions for sale are met before the transaction is complete, and the funds are released. Typically, the escrow process in Savannah, GA and Chatham County takes about 30 to 60 days from start to completion. The only monies held in escrow after it is sold are the monies your lender collects to pay future taxes and insurance. I believe in the state of Georgia, the closing attorney should represent the lender. Escrow is the time period between signing the purchase agreement and closing on the house. Learn the basics of how escrow works and find out what you can do as a seller to help move the needle to closing successfully. Escrow account opened After an offer has been accepted, the buyer works with her agent to set up an escrow account. What happens during the closing process?
