When Buying a Home, Know About Escrow

When Buying a Home, Know About Escrow

Now that mortgage rates are below double-digit levels and prospective home buyers are venturing into the market again, escrow is an important concept. Webster’s New World Dictionary defines it as, “A written agreement or something of value put in the care of a third party and not delivered until certain conditions are fulfilled.” Escrow applies to situations other than home purchases, of course, but it is during negotiations...

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