What are escrow services?

Escrow services are a type of service used in residential real estate law in Delaware. An escrow service acts as a third-party intermediary between a buyer and seller when a residential real estate transaction is taking place. The purpose of escrow services is to ensure that all parties’ interests are protected throughout the transaction. When an escrow service is used, the buyer will typically deposit money into an escrow account, and the seller will deposit the deed to the property into the same account. The escrow service will then act as an intermediary to ensure all parts of the transaction are carried out properly. This includes assessing the property and deed, reviewing the contract, and ensuring that the closing process proceeds as planned. Once all of the conditions of the agreement have been met, the escrow service will then release the funds from the buyer to the seller, and the deed from the seller to the buyer. The escrow service will also provide all of the necessary paperwork for the transaction, and they will hold onto it until the entire transaction has been completed. Escrow services are essential when it comes to residential real estate transactions in Delaware. By using an escrow service, both the buyer and seller are protected, and they can be assured that the transaction will be handled professionally, efficiently, and securely.

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What are escrow services?

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