Arrowhead Title, Inc.

Whether you are the buyer, seller, lender or borrower, you want the assurance that no funds or property will change hands until ALL of the conditions are met in the purchase agreement. In order to ensure that both parties are protected during a transaction, typically an escrow fund is agreed upon to be held as collateral. This not only offers a safety net for the seller as a show of good faith from the buyer, but it also protects the buyer's interest in the purchase of the property as well. Now, we understand that not everyone understands the need for escrow services. So, this week, we'll be giving an in depth look at what escrow is and why it's an important part of the home buying process. What is Escrow? An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only release...

If you've ever taken steps towards buying a house at the Lake of the Ozarks , you've undoubtedly heard the term "escrow" tossed around a few times. You're probably aware that escrow is an essential part of the home buying process and subsequent homeownership, but do you know what it really means? The team at Arrowhead Title, Inc. is here to help you make sense of this sometimes confusing subject. What Is "Escrow"? At its most basic definition, escrow is an account of funds that is being held by an independent third party. Once applicable instructions and conditions have been fulfilled, the third party then transfers the funds in the account to the designated recipient.  According to this definition, escrow accounts could be used in any number of situations. In the world of real estate and title insurance, however, escrow deals predominantly with earnest money, closing costs, taxes, and insurance. How Does Escrow Work? Escrow is an integr...