When you buy or sell a home, escrow is the process that transfers the
home from the seller to the buyer. A neutral third party oversees this
That third party can be an escrow company, a title company or a real
estate attorney. They work with all the parties involved in the
transaction to collect all the paperwork and funds necessary to close
the deal. The escrow process typically takes 30 to 60 days.
Learn more about this process in my Mortgage-Calc.com article, A Settlement Company Helps Protect Your Interests at Closing.