Double escrow

Double escrow is a real estate transaction involving: two contracts at two different prices, with two different buyers, on the same property, closing escrow on the same day. Whereas assigning a contract uses one purchase contract whose closing name and "taking title as" identification is identified by the closing attorney or escrow officer, a double escrow often uses a straw buyer whose name goes onto the chain of title where the assigned contract "bird dog" does not.^{[clarification needed]}

At close of escrow, all participants, lenders, sellers, buyers and brokers are informed of all parties involved and all monies that change hands. Double escrows are totally legal^{[citation needed]} and all processes within them must be disclosed by either the originator of the "deal" or by the closing escrow officer.

Many title firms in escrow states refuse to close double escrows, complaining about covert dealings and corrupt appraisals and loans.^{[citation needed]}