When you buy a house, you are bound to come across the term “escrow” at some point in the process. In the real estate arena, escrow could actually mean one of two different things, depending on the situation. Understanding how escrow works is essential if you want to make sure that the real estate deal is being handled appropriately. What is Escrow? It is basically a third party that handles things on your behalf when working with a third-party. They are there to ensure the integrity of transactions and to make sure that everyone is taken care of as they should be.
Home Escrow 101
So how does escrow work? Read the rest of this entry »