When you sell or purchase real estate or perform other large transactions, you are likely to need extra security. The solution is your escrow account with Ameriabank. An escrow account is a special bank account where funds are kept until fulfillment of obligations between transaction parties.
With an escrow account you can be sure that:
- Cash will be paid only (i) after the transaction is finalized and the bank is provided with sufficient documentary proof that contractual obligations between the parties have been performed properly and when due, or (ii) in other cases agreed between the parties.
- You will get the cash deposit back, if the other party to the transaction does not perform its obligations when due, or in other cases defined under respective contract or by mutual consent of the parties.