Escrow…What is it? Why do I need it? How does it work?

You’ll probably hear the word escrow many times during your home buying transaction, and the term can be confusing because it is used to describe different events that take place before and after the real estate settlement, the day of closing when the property becomes yours. Let’s take a look at the definition of the term escrow and the different ways it comes into play during your home buying transaction. Click here to learn how the term escrow relates to your real estate transaction and click on the picture above for additional details on closing and possession. Read more …