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by Answerbag Staff on September 22nd, 2003

Answerbag Staff

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What is escrow?

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Answers. 3 helpful answers below.

  • by mzkhadir on September 26th, 2003

    mzkhadir

    Escrow is a service where a unsolicited party hold the money while a deal is going down. Escrow reduces the potential risk of fraud by acting as a trusted third party that collects, holds and disburses funds according to Buyer and Seller instructions. Escrow services are provided by a licensed and regulated escrow agent.

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  • by Fun2WinPrizes on December 10th, 2005

    Fun2WinPrizes

    The deposit of instruments and funds with instructions to a third party to carry out the provisions of an agreement or contract; when everything is deposited to enable carrying out the instructions, it is called a complete or perfect escrow.

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  • by Andy Is Wicked Married to Penal Colony on June 12th, 2004

    Andy Is Wicked Married to Penal Colony

    An account in which a neutral third party holds the documents and money in a real-estate transfer until all conditions of a sale are met. Also, an account in which money for property taxes and insurance is held until paid; money is added to the account every time a mortgage payment is made.

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