Escrow agent in US real estate market
Stanislaw Belniak ()
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Stanislaw Belniak: Cracow University of Economics
Acta Universitatis Nicolai Copernici, Ekonomia, 2016, vol. 47, issue 1, 27-39
The activity of real estate market in the U.S. is noteworthy in all segments but the structure of ownership in real estate market within las 20 years changed most significantly.Thus,real estate market,due to its activity has been one of the institutions in this market,operating succesfully since the 1980s.Every year,ca.6 milion people who invest in the American real estate market, use ESCROW services. The paper presents the characteristics of Agent ESCROW service and their scope.Case study of the selected company was used to present the process of typical sale transaction of a real estate with participation of an agent, the procedures and rules of escrow process as well as its costs.The paper pints also the results of functioning of agent ESCROW institution in real estate market and typical problems arising from agent escrow\'s participation in transaction that refer to scheduled completion of a transaction.
Keywords: market; real estate; agent escrow (search for similar items in EconPapers)
JEL-codes: R3 N2 (search for similar items in EconPapers)
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