Escrow & Title
What is escrow and how does it work in Ohio real estate?
AA bank account held by the seller
BA neutral third party holding funds and documents until conditions of a transaction are fulfilled✓ Correct
CA title insurance policy
DA government guarantee of the transaction
Explanation
Escrow involves a neutral third party (title company, attorney, or escrow company) holding funds (earnest money, loan proceeds) and documents (deed, payoff statements) until all conditions are met and the transaction can close.
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