Escrow is an arrangement on which a neutral third party, called an escrow holder, holds legal documentation and funds on behalf of a buyer and seller. Escrow simply records the title change with the county.
Escrow does not represent or advise the seller, the buyer or manage your paperwork. This is why listing agents and buyer agents are still around. Once an offer is accepted and an escrow is open, these agents are like legal counsel for their clients.
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