The Closing Itself
What Is Escrow, and How Does a Title Company Hold the Money?
Direct answer
Escrow is the hold. On a Florida purchase, the title company typically receives earnest money, then later the buyer's closing wire and any lender proceeds. Those funds sit in the closing agent's account until the contract conditions are met, the documents are signed, and the settlement statement balances. Time to Close Title does not release earnest money because one party sent an email. If the deal dies, the contract and any signed release control who gets the deposit. At closing we disburse payoffs, recording costs, commissions, and seller proceeds only after good funds are in. Holding money is not a title search.
Key takeaways
- Earnest money and closing wires are two different deposits on the same file.
- The contract — not a phone call from one side — controls a deposit refund.
- Sellers are paid after signed documents and good funds, not when the appointment starts.
- Never change a wire from an email alone. Call (352) 792-1214 to confirm.
- Escrow does not replace the title search or the owner's policy.
What does escrow mean on a Florida title file?
It means we are holding someone else's money for a written purpose. On a purchase that is usually the earnest-money deposit, then the funds needed to close. We account for both on the settlement statement. See our escrow services page for the same rules in shorter form.
Escrow is not an extra insurance product. It is not a promise that the title is clear. The search and the policies are separate work.
| Item | When it arrives | When it can leave |
|---|---|---|
| Earnest money | After the contract, per the deposit paragraph | At closing, or earlier only if the contract and any release allow it |
| Buyer closing wire | Before or at signing | When the statement balances and documents are signed |
| Lender proceeds | When the lender funds | Same as other good funds — not before |
| Seller proceeds | Created at disbursement | After payoffs and fees come off the top |
How is earnest money handled?
Name Time to Close Title as the escrow agent in the contract, or send the deposit with instructions that match the contract. Call (352) 792-1214 before you wire so we can confirm the file is open.
If the buyer walks or the inspection fails, we do not decide the fight. We follow the contract and any release both sides sign. A realtor email that says 'send it back' is not a release.
Contract
The deposit paragraph controls the hold.
Both sides
A one-party email does not release earnest money.
Balance
We do not disburse around a number that does not add up.
How do closing wires work — and how do they get stolen?
Criminals send fake wiring instructions that look like they came from title. We will never change instructions by email only. Use a number you already have — our contact page or (352) 792-1214 — and send a test wire when you can. Read how to avoid closing wire fraud before you send the balance.
Good funds means the wire is in and has cleared our account. A screenshot of a send confirmation is not good funds.
When does the seller actually get paid?
After we have signed documents, good funds, and a balanced statement. Payoffs, recording, commissions, and the seller's net go out in that order. Possession still follows the contract. See who attends a Florida closing if one side is signing remotely — remote signing does not change the money rules.
Open the file
Send the contract and tell us who is holding the deposit.
Receive earnest money
Confirm the wire or check against the contract amount.
Collect closing funds
Buyer wire and lender proceeds, confirmed by phone.
Disburse when the file is ready
Signed docs, good funds, balanced statement — then payoffs and proceeds.
Can Time to Close Title hold my deposit?
Yes. We hold earnest money and close purchases, refinances, and cash deals from 3087 Anderson Snow Road in Spring Hill. Contact us the day the contract is signed.
Frequently asked questions
Is the title company the same as the lender's escrow department?
No. Lender escrow is for taxes and insurance after the loan closes. Title escrow is the hold of earnest money and closing funds on this transaction.
Can I get my earnest money back if I cancel?
Only if the contract and any signed release say so. We do not release on a verbal request.
When should I wire closing funds?
When we give you confirmed instructions by phone and the file is close enough that the money will not sit longer than it has to. Ask us for the day.
Does holding earnest money mean you already searched the title?
No. Deposit and search are different jobs. We do both on files we close.
Can Time to Close Title hold earnest money on a Hernando County contract?
Yes. Call (352) 792-1214 before you send the wire.