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Real Estate Tips
Articles for Sellers
What is Escrow 


| What is Escrow |
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Both buyer and seller deserve the assurance that no funds or property will change hands until all of the instructions in the Purchase Contract have been satisfied. Buyers and sellers submit signed documents and buyer’s deposit money to be held by an independent neutral third party (Escrow). After the conditions agreed upon by both buyer and seller (in the Purchase Contract) are satisfied, Escrow then distributes the documents and the funds. The escrow holder is an independent neutral third party; works for both the buyer and the seller, and is authorized to follow the specific written instructions provided by both parties. Escrow functions:
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