What Is the Difference Between Escrow and Escrow Accounts?
Point2Homes
JULY 28, 2020
The buyer is required to deposit their ‘earnest money deposit’, a sum of money that typically equates to around 1-3% of the sale price. This is paid in good faith to show that the buyer is serious about the transaction and has the funds to proceed, obligating the seller to take the house off the market.
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