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Buyers who pay for a property long before the foundations are done seek to get bargain deals. But with most developers shunning escrow accounts, what is the guarantee that buyers would not lose their hard-earned money should something go wrong? KEVIN OGUOKO reports
The legal dictionary describes an escrow as something of value such as a deed, stock, money or written instrument put in the custody of a third person by its owner or a grantor.
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