Types of Home Escrow Accounts

An escrow is particularly important in private sales where the seller and buyer haven’t established trust.

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Think of escrow as a form of safekeeping when it comes to buying a home. It can be used during different stages of the home-buying process.

There are different types of home escrow accounts.

Escrow Used in Real Estate Transactions

An escrow is a financial arrangement. A neutral third party holds funds or assets on behalf of both the buyer and the seller until the conditions of the sale are met.