What is open escrow?

 

Opening the escrow means that you take your signed sales agreement

to an escrow company and receive an escrow number. The escrow company

then begins a title search to make sure seller can give buyer clear title to

the property.

 

Note It is advised that buyer put the deposit money into escrow in case any confusion might occur in future.

 

 

Preliminary title report

 

Preliminary title report should be issued by the title company the second

week after opening escrow. It will reveal any problem attached to the

title.