"The escrow period is the time between the moment a property seller and buyer come to an agreement on the terms of sale with a fully executed purchase contract and the moment a new deed is recorded at the county courthouse placing the property in the name of the buyer. Generally, escrow is "opened" when the buyer's real estate agent gives a copy of the purchase contract and the deposit check from the homebuyer to the selected escrow officer at the title company. Escrow is said to be "closed" once the new deed, in the name of the buyer, is officially recorded at the courthouse."

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