Escrow Services

After a buyer has been found for your online business, a price negotiated, and a final purchase agreement signed, all that remains is to exchange the business with the buyer and arrange the transfer of the purchase price. To ensure that this exchange happens in an orderly and business like manner a third party, called an escrow agent, is often engaged to manage the process.

As part of the sales negotiation and purchase agreement both the seller and buyer will outline the assets to be sold and the purchase price. In addition, the steps required to transfer control of the properties sold will also be identified and any conditions that must be met by either party before the sale will be considered complete are listed. It is the escrow agents job to receive the purchase price from the buyer and hold the funds "in escrow" until all of the conditions of the purchase agreement are satisfied. At that time the escrow agent will distribute the funds to the parties as identified in the purchase agreement.

To speed the completion of the sales process Website Properties can arrange for the Escrow Services on the part of both the buying and selling parties.

Escrow
From Wikipedia, the free encyclopedia
Escrow is a legal arrangement in which an asset (often money, but sometimes other property such as art, a deed of title, website, or software source code) is delivered to a third party (called an escrow agent) to be held in trust pending a contingency or the fulfillment of a condition or conditions in a contract such as payment of a purchase price. Upon that event occurring, the escrow agent will deliver the asset to the proper recipient, otherwise the escrow agent is bound by his or her fiduciary duty to maintain the escrow account.

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