What is escrow?

What is an escrow account? An escrow account is a contractual arrangement in which a neutral third party, known as an escrow agent, receives and disburses funds for transacting parties (i.e., you and the seller). Typically, a selling agent opens an escrow account through a title company once you and the seller agree on a home price and sign a purchase agreement. When you’re buying a home, this escrow account serves two main purposes: To hold earnest money while you’re in escrow To handle and disburse the funds until all escrow conditions are met and escrow is closed. Read more here: https://www.zillow.com/home-buying-guide/what-is-escrow/?utm_source=email&utm_medium=email&utm_campaign=emm_zg_g_buzzzimplified1_082821_1_national_rng_21brand_emm&utm_content=letterscta

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