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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.

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