Escrow Deposit Services
$99.00
ESCROW SERVICES are an important benefit that may not seem important now, but could be critical to your well being at some point down the line. When any offer comes in, it is always accompanied by a good faith deposit. Who is going to hold this deposit? You? Trust me when I tell you this. No buyer broker (even one that just got their license last week) is going to let you (personally) hold the deposit. Why? They don’t trust you, that’s why. What many buyer brokers will do is to insert language in the contract that stipulates their brokerage will hold the deposit(s) until the closing takes place. Bad idea. Why would you let the buyer broker control the deposit? Just so you know, and in every state in which we are licensed, it is the LISTING BROKERAGE that holds the deposit by convention. This is no surprise to any agent or broker. Not to say a buyer brokerage can not hold the deposit, but common sense dictates this is a foolish move. You want the deposit held by the LISTING BROKERAGE (i.e. Landfall Properties, LLC Escrow Account). These funds are held in a specialized account (subject to no notice audit by the state real estate commission). We hold these funds for you, and release them to the closing attorney 72 hours in advance of the closing. Here’s another reason to purchase escrow services: In the event the contract goes “south” and the buyer breaches contract, you want those deposit funds paid out to you as liquidated damages. Our brokerage retains NONE of the deposit. The entire deposit amount is paid to you in full. Ask other brokerages if this is their policy…not likely (most retain 50%, and payout the remaining 50% to you).
Description
ESCROW SERVICES are an important benefit that may not seem important now, but could be critical to your well being at some point down the line. When any offer comes in, it is always accompanied by a good faith deposit. Who is going to hold this deposit? You? Trust me when I tell you this. No buyer broker (even one that just got their license last week) is going to let you (personally) hold the deposit. Why? They don’t trust you, that’s why. What many buyer brokers will do is to insert language in the contract that stipulates their brokerage will hold the deposit(s) until the closing takes place. Bad idea. Why would you let the buyer broker control the deposit? Just so you know, and in every state in which we are licensed, it is the LISTING BROKERAGE that holds the deposit by convention. This is no surprise to any agent or broker. Not to say a buyer brokerage can not hold the deposit, but common sense dictates this is a foolish move. You want the deposit held by the LISTING BROKERAGE (i.e. Landfall Properties, LLC Escrow Account). These funds are held in a specialized account (subject to no notice audit by the state real estate commission). We hold these funds for you, and release them to the closing attorney 72 hours in advance of the closing. Here’s another reason to purchase escrow services: In the event the contract goes “south” and the buyer breaches contract, you want those deposit funds paid out to you as liquidated damages. Our brokerage retains NONE of the deposit. The entire deposit amount is paid to you in full. Ask other brokerages if this is their policy…not likely (most retain 50%, and payout the remaining 50% to you).
