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Why Do Real Estate Brokers Have Escrow Accounts?

In terms of a real estate sales agreement, an “escrow” or trust account is typically an account operated by a real estate broker which is used to hold buyer deposits until closing. Example: Buyer Smith makes an offer to purchase a home. With the offer is a $10,000 deposit. That deposit is held by Broker [...]

29Aug2008 | | 0 comments | Continued