Escrow is a way of transferring or exchanging property or money using a neutral third party. Escrow provides the public with means of protection in the handling of funds, assets and/or documents. Escrow enables the buyer and the seller to transact business with each other through a neutral party, thereby minimizing their risk. Escrows are established to hold original documents, real estate deeds, titles to property, money or securities until conditions are fulfilled and the items are released.
In the escrow, all parties involved give their instructions to neutral intermediary, called the “escrow agent” or “escrow manager” whose duty it is to assure that no funds, assets or property will change hands until all instructions have been carried to completion.
An escrow is beneficial to both parties as an escrow agent will be holding the documents, processing all regular payments, maintaining an accounting of all transactions and providing the required reporting. Escrow accounts are designed to facilitate the business and to make seemingly complicated or “impossible’ transactions to become real and performable.
Escrow is also useful in ordinary day to day business.
Why do you Need our Escrow-Service?
Whether you are the buyer, seller, lender or borrower, you want the assurance that no funds or property will change hands until all of the instructions in the transaction have been followed. The escrow agent or manager has the obligation to safeguard the funds, assets and/or documents while they are in the possession of the escrow agent, and to disburse funds and/or convey title only when all provisions of the escrow have been complied with.
You are interested? contact: FPPS Escrow-Service Ltd./ Oxford