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What is escrow? What is escrow? Escrow is an impartial third party process in which documents and funds are deposited by buyers, sellers and lenders to facilitate the closing for a real estate transaction.
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Escrow is an impartial third party that holds assets on behalf of two other parties in a transaction.
The parties involved in the transaction are typically required to use an escrow service.
To fill out escrow, both parties must agree on the terms and conditions of the escrow account and provide the necessary documentation.
The purpose of escrow is to protect the assets being transferred in a transaction and ensure that both parties fulfill their obligations.
The details of the assets being held, the terms of the agreement, and the contact information of the parties involved must be reported on the escrow account.
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