Escrow is when money is held by a third party on behalf of two other parties that are in the process of a large financial transaction—in this case, the home buyer and the home seller negotiating a home sale.
If you’ve never bought a home before, you may be unfamiliar with the term “escrow” and its multiple meanings in the housing market. Here’s a quick guide to keep in mind while you pursue a KC home loan. What is an Escrow Account? Many home loans in KC require escrow accounts, especially for first time […]