Health & Fitness
What's Escrow, Anyway?
There are escrow real estate closing states and there are table-closing states. Also known as dry closings and wet closings, these terms refer to where and by whom the actual transfer of money and paperwork is done.
A wet closing is a term from the old days in reference to the idea that "before the ink is dry" the closing is accomplished. These are the states where all parties sit around a table in a legal office and execute the closing documents together.
On Mercer Island, being in the state of Washington, we have dry closings at an escrow company.
Find out what's happening in Mercer Islandwith free, real-time updates from Patch.
See more at: http://SundayCoffeeandRealEstate.tumblr.com