Escrow Closing is a term used to signify the finalization of real estate transactions, particularly in states where deeds of trust are used in place of traditional mortgages. This process involves an escrow agent ensuring that all documents and funds are properly managed and disbursed.
Preclosing is a rehearsal of the closing process in real estate transactions where instruments are prepared and signed by some or all parties to the contract. It is especially useful when closings are expected to be complicated.
