What is an Escrow Account?
It is an instrument that reduces the risk and secure the buying-selling transaction.
When is an Escrow Account used?
An Escrow Account is used whenever you need to secure:
Advantages of Escrow Account:
|
For a Seller |
For a Buyer |
|
Certainty, that the buyer has the necessary funds |
Certainty, that no funds will be lost during transaction |
|
Certainty that the deal will not be canceled |
Documetns are chekced and secured by the bank |
|
Comfort and Safety |
When opening the Escrow Account, the agreement is signed three ways, where bank is one of the sides that secures the validity of documents and operations from the start to the end of the transaction.
