Repair Escrow Rules. How can I use this money?

[Tyler Speelman]

Hello,

Seller has offered to fund repair escrow after closing. They have paperwork entitled "Escrow Agreement for Postponed Improvements" to guarantee they will return money after closing that I can have for reserves in my operating account. Do I have to use this money they "give back" to me in a certain time period? 

Also, do I have to use this money for improvements (maintenance/capex only)? 

Any input/advice would be appreciated. 

Thank-you in advance!