“It’s All Greek to Me”: Escrow

A distant cousin of the crow? Not exactly. “Escrow” is a term that can be found in many different contexts, but it typically refers to agreements where an impartial third party retains control of assets throughout the duration of a transaction.

            For instance, in real estate, the money one puts down to purchase a house is placed “in escrow” until the final contract is signed by both buyer and seller. While the money is in escrow, neither the buyer nor the seller has access to it – rather, the impartial third party holds on to the funds until the transaction is completed or cancelled.

If you need guidance through the real estate process, attorneys Fred Jacobs and Sean Byrne of Bach, Jacobs & Byrne, P.A. are real estate attorneys and escrow/title agents who can help you with a closing on the purchase or sale of real estate. Call today at (941) 906-1231 to set up a consultation.