Escrow & Title
In California, escrow instructions that are signed by both buyer and seller create:
AAn agency relationship with the real estate broker
BA binding contract between the parties and the escrow holder✓ Correct
CAn enforceable purchase agreement that replaces the original contract
DA fiduciary duty running from escrow to the buyer only
Explanation
Signed bilateral escrow instructions constitute a binding contract among the buyer, seller, and escrow holder. The escrow holder is obligated to perform according to those instructions. If the escrow instructions conflict with the purchase agreement, the escrow instructions generally control matters within escrow.
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