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Escrow is a word many home buyers are familiar with. Escrow requires
a third party, usually an escrow agent. Escrow is the the process of
giving something to this third party to be delivered or transferred only
after certain conditions have been met.
Escrow is usually the very last stage to buying your new home. When
someone tells you their house is in escrow, they either mean that they
are on the verge of purchasing or selling their home. Escrow is often
heard with the term "closing" when talking about real estate.
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