Escrow is a necessary process of buying rental property in Pennsylvania. It starts when the seller accepts a buyer's offer.Escrow is a neutral, thirdparty account used to hold funds or documents on behalf of people in a transaction. The escrow holder makes sure that the terms and conditions of the agreement between the seller and buyer are performed prior to the sale being finalized. A few common duties of an escrow agent include holding the buyer's down payment until closing. Escrow is a process that ensures the secure handling of funds and documents between the buyer and seller until all the conditions of the sale are met. An escrow account is used to hold funds and documents until all conditions of the sale are met. All terms in any agreement are negotiable between buyer and seller. This neutral thirdparty account ensures that both the buyer and the seller fulfill their obligations before the property changes hands. If you are not working with a realtor, someone must be responsible for this money.