Agent: “Oh, that house is in escrow.”
You: “Huh?”
Escrow seems like a fancy word, doesn’t it? But what exactly is escrow, and how does it work within the context of a home purchase? Keep reading so that you’ll know what this word means the next time it comes up!
A French Connection
If you think escrow sounds vaguely French, you’re right. The word is derived from the Old French escroue, meaning a scrap of parchment paper. In France, escroue later came to indicate a deed or deposit held in trust by a third party.
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