Find the right information and know it is the most reliable available when you search for recently sold homes like 6123 N County Road 45, Medford, MN 55049 on realtor.comÂ®. Top Real Estate Markets in Minnesota
Escrow generally refers to money held by a third-party on behalf of transacting parties. It is best known in the United States in the context of real estate (specifically in mortgages where the mortgage company establishes an escrow account to pay property tax and insurance during the term of the mortgage).
Real Estate Escrow Definition. An escrow is a neutral third-party who holds funds until conditions are met. Real estate escrow means putting something, such as a deed or money, in the custody of a neutral third party until certain conditions are met, according to the website Realty Times. Escrow or title companies often oversee a real estate transaction, from initial deposit to final funding, to ensure a smooth process.