Buying a house can involve big and scary terms, and “escrow” ranks near the top. So what is escrow, anyway?
The good news is that escrow is not as ominous as it sounds. In the home-buying process, escrow is a financial tool that allows you to set aside important items such as the buyer’s earnest money check and purchase agreement document in an impartial holding area, where it will stay until all of the details are worked out between a buyer and a seller. Full Article