What are escrow instructions?

Escrow instructions are documents that are used in real estate transactions in New York. They provide detailed information for both parties on how the transaction will be handled and how funds will be disbursed. Escrow instructions outline the specific payment amounts between the buyer and seller, as well as how and when the funds will be transferred. The instructions also describe the role of the escrow agent, who is responsible for managing the deposit of funds and closing the transaction. The escrow instructions also provide details on how taxes, title fees, and closing costs will be paid. Escrow instructions are an important part of the closing process and are used to protect both parties involved in the transaction. They ensure that all funds are appropriately disbursed and that the property is legally transferred.

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What are escrow instructions?

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