2014-09-15T14:44:00+00:00 September 15th, 2014|
A Holdback is an amount of money held back at closing by the lender or the escrow agent until a particular condition has been met. If the problem is a repair, the money is kept until the repair is made. If the repair is not made, the lender or escrow agent uses the money to make the repair. Buyers and sellers may also have holdbacks between them, to ensure that specific conditions of the sale are met.