Your Escrow Account will provide security for both the Buyer and the Seller. An Escrow Account can be used for large sums (for example, buying a house or a car), because it protects the interests of both sides.
When do you use an Escrow Account?
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An Escrow Account is profitable in any case – whether you are a Buyer or a Seller. |
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Seller uses an Escrow Account when he is not sure about whether the Buyer will pay a fixed sum. An Escrow Account also protects a Seller from receiving counterfeit money. |
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Buye is guaranteed that the Seller will receive the money only after all the goods or property documents are officially registered in the Buyer’s name. |
Opening an Escrow Account
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The Buyer or the Seller pays for the opening of an Escrow Account mutual agreement. Administration of the Escrow Account is free of charge. |
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The Buyer or the Seller is informed about debiting money into the account or filing documents for the payment. |
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Account condition changes are paid for by the initiator of the changes. |
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