Escrow isn’t a requirement. The only requirement is that you pay your taxes and insurance whether you have someone else doing it or do it yourself.
What varies from place to place is how property taxes are calculated. Many places “lock you in” to a rate when you buy and only reassess when the property changes hands. In my state, the rate just increases by 3% every year regardless of whether you sell or not so nobody is hit with a big surprise bill.
Escrow isn’t a requirement. The only requirement is that you pay your taxes and insurance whether you have someone else doing it or do it yourself.
What varies from place to place is how property taxes are calculated. Many places “lock you in” to a rate when you buy and only reassess when the property changes hands. In my state, the rate just increases by 3% every year regardless of whether you sell or not so nobody is hit with a big surprise bill.