Escrow ensures fairness and protection for everyone involved in a real estate transaction. Our escrow services safeguard funds until all conditions of the sale are satisfied. We provide escrow services across Maryland, including Washington, Allegany, and Garrett counties.
Your money is protected, and your transaction moves forward with trust and clarity.
Escrow Services in Maryland
With Allegany Garrett Titles & Settlements, you get:
Secure management of deposits and closing funds
Disbursements only when terms are met
Full transparency and accountability
Confidence for both buyers and sellers
What Is Escrow in Real Estate?
Escrow is a financial arrangement where a neutral third party holds funds on behalf of the buyer and seller during a real estate transaction. The escrow agent — in this case, Allegany Garrett Titles & Settlements — safeguards deposits, earnest money, and closing funds in a secure escrow account until all conditions of the purchase agreement have been met. The purpose of escrow is to protect both sides of the transaction. The buyer can be confident that their money won't be released to the seller until the title is clear and all contract terms are satisfied. The seller can be confident that the buyer's funds are verified and available before transferring ownership. Escrow removes the risk of one party fulfilling their obligations while the other does not.
How the Escrow Process Works
The escrow process begins once the buyer and seller sign a purchase agreement. Here is how it typically works in a Maryland real estate transaction: after the contract is executed, the buyer submits their earnest money deposit, which we receive and hold in a dedicated escrow account. Throughout the transaction period, we coordinate with the lender, real estate agents, and attorneys to track the progress of inspections, appraisals, and loan approvals. As conditions of the sale are met — such as a clear title search, completed home inspection, and final mortgage approval — we prepare for the closing. At settlement, we collect the remaining funds from the buyer and the lender, and we prepare a full accounting of every dollar. Once all documents are signed and the transaction is complete, we disburse funds according to the settlement statement — paying off the seller's existing mortgage, covering closing costs, and releasing the seller's proceeds. Every step is documented, and both parties receive a clear record of all funds received and disbursed.
What Our Escrow Services Include
When you work with Allegany Garrett Titles & Settlements as your escrow company, you receive secure holding of earnest money deposits from the time the contract is signed, management of all closing funds including the buyer's down payment and the lender's mortgage proceeds, accurate accounting and reconciliation of every dollar entering and leaving the escrow account, timely disbursement of funds only when all contractual conditions have been satisfied, payoff of the seller's existing liens and mortgages from the closing proceeds, and a final settlement statement that details every transaction for your records. Our team manages these responsibilities with the same level of care and attention to detail that we bring to every part of the closing process. You always know where your money is and what happens next.
Escrow Services Across Maryland
We provide escrow services for real estate transactions throughout the state of Maryland. While our office is located in Cumberland, we regularly handle escrow for properties in communities across Allegany, Garrett, and Washington counties. Whether you are buying or selling a residential home, closing on a refinance, or managing a commercial property transaction, our escrow services provide the secure, transparent fund management your transaction requires. We work with buyers, sellers, real estate agents, and lenders across the state to ensure that every closing is handled with professionalism and care.
Related Services
Escrow is one part of a complete real estate closing, and it works closely with each of our other services. Before funds are disbursed, our title search and examination confirms that the property has a clear title and is ready for transfer. Title insurance provides ongoing protection for the buyer and lender after the transaction closes. And our settlement and closing services coordinate the documents, signatures, and final steps that bring the transaction to completion. Together, these services ensure your real estate investment is protected from contract to keys.
With our experienced team by your side, you can enjoy your closing day. Closings are available for properties across the state of Maryland in our Cumberland or Frostburg office, or handled remotely.
Submit a form below and a member from our team will be in touch within the next business day.
Our Locations
Cumberland Office
164 N Centre Street
Cumberland, MD 21502
Monday–Friday
9 am – 4 pm
Frostburg Office
18 S Broadway Street
Frostburg, MD 21532
By appointment