When we transfer the ownership of a property from the seller to the buyer. and all of the terms of the contract are carried out, we call this closing.
Well, maybe it depends on the state you live in.
If a deed of trust is used instead of a mortgage we might call it escrow, because the buyer is giving a purchase money mortgage to the title company acting as the escrow agent.
Escrow is, more or less, the agreement made between two parties which will provide that the property be placed with a third party for safekeeping, pending the fullfillment of the obligations or conditions of the contract.
What do you call it ?
In any event, I hope you take your closing or escrowall the way.
I've provided a little video at a charity event for a local school I sang at many years ago, when I had a Michael Bolton hairdo. It's my tribute to Frank Sinatra.
Hope you enjoy:-)
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