Question

Within how many days following the acceptance must escrow receive a copy of the purchase agreement. According to section 20 of the sample sales contract you reviewed?

Answer 1

Within 3 days following the acceptance must escrow acquire a copy of the purchase agreement. According to section 20 of the sample sales agreement you reviewed.

What is an escrow agreement?

An escrow agreement refers to a contract that delineates the terms and prerequisites of a transaction for something of value such as a bond, or asset which is owned by a third party until all requirements have been met.

"Escrow" is a phrase that describes the neutral third-party handling of accounts, documents, and tasks detailed to the closing (or settlement, as it is also known), as summarized on the real estate purchase agreement or sales agreement.

To learn more about escrow agreements visit the link

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