COE

COE stands for close of escrow, the point at which a real estate transaction is completed and ownership transfers from seller to buyer. In an escrow arrangement, a neutral third party holds funds, documents or other items until the parties satisfy the conditions of the purchase agreement.

At closing, the buyer delivers the required funds and the seller provides signed documents and other required items. Once all conditions are met, the escrow holder releases the funds and documents as directed, and the deed is recorded as required. The process may be handled by an escrow company, title company, attorney or another authorized party, depending on the location.

For appraisers and lenders, the COE date helps establish when a sale became a completed transaction. A closed sale can then be verified and considered as potential comparable market evidence.