What Is an Escrow Agent?

This question is about Real Estate Purchase Agreement

What Is an Escrow Agent?

An escrow agent is an independent third party who holds the property in a trust until the terms of the home purchase contract are met. Agents are responsible for collecting payments from the buyer and giving them to the seller. Both the seller and the buyer can give instructions to the escrow agent.

The information for this answer was found on our Real Estate Purchase Agreement answers.