Is there a charge for an escrow account?
May 30th, 2011 | 
Author: My landlord is going to owner financing the home I am renting so I can purchase it. Their attorney has drawn up a contract. The attorney is claiming to be the escrow agent and is adding money into the monthly payment, I am guessing for an escrow fee ($11.69). Is that normal to pay an escrow fee. Should the lender/landlord pay this fee. We really don’t need one as I am paying the lender/landlord principal & interest and I am taking care of insurance and taxes myself.
Posted in Landlord Tenant Law
I have never heard of an “escrow charge” I say look into having a real estate attorney review this sales contract ASAP!
Escrow is usually just Taxes, insurance, HOA dues, or assessments on the property. Find out more what this fee is for. If they are charging you for doing the escrow that is illegal.