Escrow & Title
In Alaska, 'escrow' is fundamentally a legal arrangement in which:
AThe buyer holds all funds until closing
BA neutral third party holds funds and documents on behalf of both buyer and seller, to be released when all conditions are met✓ Correct
CThe broker holds all documents and funds on behalf of the seller
DThe lender holds all funds until the appraisal is complete
Explanation
Escrow is a conditional delivery arrangement in which a neutral third party (the escrow holder or agent) receives and holds funds, documents, and other items from both parties and disburses them only when all conditions of the transaction are fulfilled.
Related Alaska Escrow & Title Questions
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