Glossary · Legal & insurance
What is Escrow?
Escrow is a neutral third-party arrangement that holds funds or documents until the conditions of a deal are met.
Definition
In a home purchase, a deposit may be held in escrow until closing, ensuring funds are released only when both parties meet their obligations. Some lenders also use escrow accounts to collect and pay property taxes and insurance on your behalf.
Escrow adds security and trust to a transaction by keeping money or documents with an impartial party until everything is in order.
When escrow matters
- Securely holding a deposit during a purchase
- Managing property taxes and insurance through your lender
- Protecting both buyer and seller until closing
With Homeprint
How Homeprint helps with escrow
Homeprint helps you keep escrow statements and closing paperwork organized for easy reference.
- Keep every related document in one secure place
- Track your home's value and finances over time
- Stay connected with trusted neighbourhood experts
Escrow — FAQ
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