Escrow services are typically used for the sale of businesses, personal property, commercial real estate, or in any situation wherein the parties would like a disinterested third party to handle documents and/or funds on their behalf. We specialize in creating custom escrow services for all types of situations.
How Escrow Works
Whenever two parties are participating in a sale, it is best practice to use an Escrow Agent to assist with the transaction. An Escrow Agent provides an escrow account that is governed by mutual instruction received by the parties. The buyer deposits funds for the sale into the escrow account pursuant to the agreement. The money is held in the escrow account while the buyer, seller, and escrow company complete any tasks that must be done before the sale can be completed.
Custom Escrow Services
Some of the situations that call for custom escrow services are:
- Business Sales: Whenever someone is selling a business using an Escrow Agent is recommended. Selling a business requires attention to detail which dedicated business escrow companies are used to. When an Escrow Agent is used for a business sale the buyer and seller have the peace of mind that all documents and funds are being handled by an impartial third party.
- Personal Property Sales: Custom escrow services for personal property provide flexibility and make the buying and selling process more secure no matter how large or small the transaction is.
- Combination Real Property & Business Sales: When the sale of a business includes both real and personal property it’s essential to use a dedicated Escrow Agent to ensure that the transition of both the property and any business assets goes smoothly.
- Commercial Property Sales & 1031 Exchanges: Since commercial property sales and real property 1031 exchanges can be complicated using an escrow service to protect all parties is always a good idea. The Escrow Agent will coordinate with the 1031 accommodator to ensure that all requirements are met.
- Holding & Disbursement Escrows: If money, stocks, vehicle titles, or other documents need to be held to satisfy a settlement or contract requirement an escrow company can create a custom escrow solution for that.
- Settlement and Litigation Escrows: As part of a settlement or a lawsuit payout, a custom escrow account can ensure that all requirements are met and disbursements are held until the conclusion of the litigation.
- Construction Draw Escrows: If a lender, company, or private party needs to set up a custom escrow for a construction draw an escrow company can facilitate disbursement of approved payments.
- Source Code and IPO Escrows: Buyers and sellers who require source codes to be held in a secure location can utilize a custom escrow account. IPO escrow accounts can be established to hold funds as money is being raised for the initial offering.
- Cannabis Membership Transactions: Buyers and Sellers can establish a custom escrow account to hold the necessary transaction documents such as Transfer Documents, Closing Documents, Unwinding Documents, and funds.
Not all Escrow companies are the same
Experience, reputation, and commitment to quality matter in any financial dealings and this is our top priority. Working with an Escrow Agent that has an excellent reputation in the industry is important. A competent, experienced escrow company should be a partner that will help make any sale, whether it’s personal property, a business sale, commercial property or a 1031 exchange go smoothly.
Experienced escrow officers make all the difference and they will work with you to create custom escrow services designed to fit your unique needs.
Contact Arizona Escrow and Financial today to discuss custom escrow solutions for any situation.