The escrow process typically involves the following steps:

  1. Agreement: The parties agree to use an escrow agent and outline the terms and conditions of the transaction.
  2. Deposit: The buyer deposits the agreed funds or assets into the escrow account.
  3. Verification: The escrow agent verifies that all conditions of the agreement are met.
  4. Release: Once all conditions are satisfied, the escrow agent releases the funds or assets to the seller, and the transaction is completed.
  5. Completion: The transaction is finalized, and the escrow agent closes the account.