| An escrow is
an independent stakeholder account and is the vehicle by
which the interests of all parties to the transaction
are protected. The escrow is created after you execute
the contract for the sale of your home and becomes the
depository for all monies, instructions, and documents
pertaining to the sale. Some aspects
for the sale are not part of the escrow. For example,
the buyer and seller must decide which fixtures or
personal property items are included in the sales
agreement. Similarly, loan negotiations occur between
the buyer and the lender. Your real estate agent can
guide you in these non-escrow matters.
Check out Frequently Asked Questions
about escrow. |
