Definition of "Escrow"

Rob Muller real estate agent
Rob Muller, Real Estate Agent Engel & Volkers Atlanta North Fulton

Arrangement in which a buyer gives a deed and/ or money to an independent third party (an escrow agent) to retain until specified conditions have been met. The escrow agent releases holdings to the seller. The escrow benefits both parties. The escrow time period is negotiated between the buyer and seller of the property.

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