Escrow | Housing | Finance & Capital Markets | Khan Academy

[@shvonned.burkemsncrnpagpcn619]

Okay, now I come to Khan for physio, med lecs and bio. I just happen to be looking at home buying vids and you show up! Never a dull moment. You guys are the best!!!

[@reffa2858]

Wow this simplifies things tremendously!

[@thatnikita]

Well boiled down! Now I've got a clear understanding of what escrow actually is. Thanks!

[@CindyMay]

love the way you go into details! Thank You!

[@antigacoruja1185]

i love these videos!

[@boomofficial99]

Thanks for your sharing ❤

[@l.crossjr]

Simple and to the point. Very well explained

[@LECityLECLEC]

Khan Academy Law plz thanks Sal!

[@thrivesurvive]

very helpful. thanks

[@JasonSpenc]

You guys are awesome. Thanks.

[@bravehats]

Hello 2022, a rime when offer is greater than asking price, and all contingencies are waved.

[@blobbodobbo]

Nice drawing

[@Jboy1527]

So by paying everyone. Does that money comes out of the 300k

[@butterflyqueen9260]

couldn't i just open a savings account and I put a little in a separate account for insurance, hoa and taxes?

[@PouringitOut]

Butterfly Queen escrow in essence is a regulated 3rd party that follows governing laws of real estate with licenses which for any reason of money goes missing or any other instance those monies can be refunded. we as escrow reps are like a mediator to make sure both parties are meeting each others expectations and take the hassle from both the buyer and seller by paying off outstanding debit, property taxes, liens, etc..

[@surferdudette19]

What if the escrow agent is a fraud working to get your money / deed of the house for the other party? How do you know he won't be careless with your transaction or just run off with all that money?

[@randomwindowsstuffz]

Well, you can never know. Really, even if the escrow agent has many people supporting it (or even is funded by the government itself), we do live in a corrupt world; and every man has his price. By buying anything, whether it be a house or just a chocolate bar, you are taking a risk of facing fraud. /

[@annienystrom1492]

Escrow companies are trusted, guaranteed and have to abide by the strictest of guidelines with lots of oversight. No worries.

[@ikekeonwu]

@@annienystrom1492 Thanks

[@EnTheosUsmus]

Who pays the escrow agent?

[@sieve5]

In my situation the selling party is paying the escrow agent as well as the real estate agents cut of the pie.

[@usmcpound]

Who the hell has 51k just sitting around?

[@CapyBrotha]

Inheritance, lines of credit, savings, cash from a previous sale of an asset and last but not least a loan. There are plenty of ways to get that money.

[@markgriz]

People saving to buy a house?

[@CapyBrotha]

I would say that it's a principle in today's economy to give out loans. Since money is created by borrowing money. Keep borrowing or else our system would collapse. Debt free world == economic collapse.

[@AaronGuerrerodesdezeroent]

People

[@lime_68]

I do