What are escrow instructions?

Escrow instructions, in the context of South Carolina residential real estate law, refer to the written instructions given to an escrow agent who holds onto documents and funds on behalf of a buyer and seller, in order to facilitate the sale of a home in the state. The escrow instructions will outline the actions of the escrow agent and the buyer and seller in order for the transaction to be legally binding and valid. The instructions will include details such as when the buyer and seller need to sign the documents and when the funds and documents need to be exchanged. The instructions may also specify when the buyer and seller need to be informed about the progress of the closing. Ultimately, the escrow instructions ensure that all parties involved in the transaction are abiding by the terms of the agreement and that all parties’ rights are protected.

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What are escrow instructions?

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