Escrow is a confidential and impartial third party who holds money and documents in safekeeping until such time that all conditions and terms have been satisfied. They represent neither the buyer nor the seller. Escrow's duties include: receiving and holding deposits, ordering title searches/conveyance documents, processing loan documents, clearing title, making pay-offs to existing lenders, providing a settlement statement, coordination with both parties for document signings, handling closings with buyers and sellers, recording documents, and disbursing all funds at the close of escrow.