What is escrow?

In Loans - Mortgages - Asked by Admin - 13 months ago

Escrow is a neutral third party that handles the money in a real estate transaction. The buyer gives the deposit to the escrow company and the lender fund the loan into the escrow. The escrow company pays the real estate brokers commission, pay off loans or liens on the property, pays taxes and any other fees and then gives the balance to the seller.

Answered by Admin - 13 months ago

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