Escrow is a legal arrangement whereby a thing (often money, but sometimes other property such as art, a deed of title, or software source code) is delivered to a third party (called an escrow agent) to be held in trust pending a contingency or the fulfillment of a condition or conditions in a contract. Upon that event occurring, the escrow agent will deliver the thing to the proper recipient, otherwise the escrow agent is bound by her or his fiduciary duty to maintain the escrow account. Read more on real estate escrow agent tools
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Real Estate News for YOU:
Habitat home rules are hard for many on Gulf Coast (Memphis Commercial Appeal)
Many of the dozens of completed Habitat for Humanity houses in hurricane-ravaged areas of Texas, Louisiana and Alabama are occupied or will soon be dedicated. But not in Mississippi, where only six of the 30 homes are filled. Potential homeowners are having a hard time meeting the program's requirement to save about $3,500 in an escrow account for a year's worth of taxes and insurance.
Before budgeting, remember who has to pay (Independent Press)
Recently, our fourth quarter property taxes were due. For those of us who pay directly (not via escrow), it's a meaningful day. Altogether this year you and I remitted $108 million to City Hall ($4.7 million more than 2007, a...
E. Idaho real estate agents sweeten home deals (The Olympian)
Real estate agents eager to move some houses are turning to that common retail tactic: the holiday sale.
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Escrow is not just a term for real estate. While escrow is best known in the context of real estate, escrow companies are also commonly used in the transfer of higher value properties like websites and businesses. It is even used in auction sites where two parties unknown to each other are making a transaction and there is no previous history.
In addition there can be lawyer transactions with clients that involve escrow.
Real estate agents are in some jurisdictions considered to act as escrow agents when they accept deposits for the purchase of real property.
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As you search for real estate escrow agent tools remember we update our site regularly. Be sure you understand the terms in any legal agreement for your own protection.
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