What is Escrow and How Does it Work?

September 24, 2021
Real estate transactions can be complicated. Both the seller and the buyer often have issues with the sale. Escrow is an account that holds funds back until the terms of the contract are fulfilled. Escrow is helpful because it protects both the buyer and seller and allows the sale to go through rather than waiting for the issues to get resolved first. Money or assets placed in escrow are held by a third party until the completion of the specific requirements. Escrow may be on behalf of the buyer or the seller.
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