What is Escrow? A Simple Introduction

What is Escrow? A Simple Introduction

Escrow, in the real estate industry, is a term that refers to a third party hired to handle the exchange of money and documents. When both parties come to a mutual agreement for price and terms regarding the sale of a home, the transaction “enters” escrow. An escrow account is opened to facilitate the transfer of the funds and property.

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Video of the Week: Majestic Waiea Grand Penthouse in Kakaako, Honolulu, Hawaii

 
 
$35,000,000 USD | Honolulu, Hawaii | List Sotheby’s International Realty 

 
Waiea is a masterpiece created by the world renowned architect, James K. M. Cheng in collaboration with one of America’s iconic interior designers, Tony Ingrao. In his words, James Cheng calls the penthouse “a villa in the sky.” Designed with the connoisseur of life in mind, no detail has been overlooked. This six-bedroom, six-and-one-half-bathroom residence sprawls over 8,532 square-feet and features a spectacular, over 2,000-square-foot rooftop lanai and a private, ocean-facing infinity pool. 

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