The term can mean different things in different markets. It can also be used to describe an account versus the stage you are in when buying a house. Doug explains the differences and when it can be waived by the buyer.

He also talks about why people sometimes want to waive escrow and whether it benefits them or not.

To request a free copy of Doug's free book "Hippocratic House: Do No Harm When Purchasing Your First Physician Home" go to www.HippocraticHouse.com.