Escrow is a contractual agreement in which a third party holds a large sum of money or property during the homebuying process. If a buyer has put down earnest money, for example, these funds will be held in an escrow account until the transaction is completed.
Read more: Who Pays Closing Costs When You Sell a Home?
Zach Child is a recent graduate from the University of Washington with an interest in digital marketing strategy. At Sundae, Zach is part of the team that distributes editorial content across social channels and is responsible for the creation of visual content that helps grow Sundae’s brand.