Escrow closing is the final step of most real estate transactions and occurs when all conditions and provisions of the transaction have been met and the property is officially transferred to the purchaser. Usually, a contract for sale includes a provision for escrow. That simply means that a third party escrow company or escrow agent will hold the buyer's down payment, hold the money loaned by the bank, obtain and hold the deed or title, and figure property tax amounts and closing costs. After closing the sale/purchase, the escrow agent will deliver any monies owed to either party or banking institutions. At this point, when all conditions have been met and the escrow agent has delivered titles, deeds, monies, and documents to all concerned parties, the sale is considered final. Now the agent can officially "close escrow," and the real estate transaction is complete.