OT: stupid question, Escrow? |
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OT: stupid question, Escrow? |
SirAndy |
May 23 2008, 05:25 PM
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#1
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Resident German Group: Admin Posts: 41,813 Joined: 21-January 03 From: Oakland, Kalifornia Member No.: 179 Region Association: Northern California |
How exactly does Escrow work? (IMG:style_emoticons/default/idea.gif) from what i gather, the escrow company is kinda like a Notary with a Bank and i put in the funds and they'll hold them until certain terms in the sales contract are fulfilled and then release the funds to the seller ... am i close? (IMG:style_emoticons/default/shades.gif) Andy |
TROJANMAN |
May 23 2008, 05:49 PM
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#2
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Looks nice in pictures......... Group: Members Posts: 5,275 Joined: 5-March 04 From: Colorado Member No.: 1,753 Region Association: None |
My uncle in Nigeria has an escrow company that comes highly recommended. (IMG:style_emoticons/default/biggrin.gif)
But what they said. If this is a real estate transaction the escrow company, more or less, guarantees clear title and acts as a non-interested third party to facilitate the transaction. |
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