Definition: EScrow
An escrow is essentially just the accounting rigamarole that organizes all of the various chunks of money that change hands in a real-estate deal.

An escrow is usually done by an "escrow company" that specializes in dealing with all of the paperwork that goes into the buying and selling of real-estate.

An escrow company uses a special bank account called an "escrow account" to manage the flow of money into and out of the deal, and when the escrow has been completed (i.e. once the deal is done), they close the escrow account.
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