An escrow is an independent, neutral intermediary that manages the exchange of money for real property. Whether you are the buyer, seller, lender, or borrower, you want the comfort of knowing that no funds or property will change hands until all of the instructions in the transaction have been followed and conditions met. The escrow holder, while maintaining the privacy of the consumer, must safeguard the funds and documents while they are in the possession of the escrow holder. When all conditions of the escrow transaction have been met and the parties agree, the escrow holder will disburse funds and record the documents conveying the title.
Yes you can. You will need to provide your statement of earnings or your personal tax files for the last two years, your income details for the last 2 months, your bank activity details or credit card payments for the last two months, your passport, and verification of cash funds for the down payment. Those that own independent businesses also need their company tax files and statements for the last two years. Down payments are usually thirty to forty percent of the sales price.
The nature of residential and commercial real estate transactions differ, therefore, we are happy to introduce you to a trustworthy commercial real estate professional.
Yes you can. You will need to take your passport and a minimum balance of $100 to the bank in person to open an account.