Buy & Sell Escrow

 

 

Purchase or sell real estate properties, shares of stock of corporations or other kinds of assets with confidence even if the seller or buyer is not personally known to you. Ensure that the conditions of your transaction will be finalized conveniently.

BDO Trust and Investments Group can help you fulfill this objective through its Buy & Sell Escrow Agency arrangement. BDO-Trust will act as an independent third party to protect the interests of contracting parties while the conditions of a principal contract are being fulfilled.

For example, the seller deposits the securities, documents or other properties to the Escrow Agent while the buyer delivers the cash or other properties also to the Escrow Agent. When the specific conditions contained in the Escrow Agreement are met, BDO Trust will release the property to the buyer and the seller gets the cash or any form of consideration in exchange for the property sold.

Benefits

  • Protection of the parties' interests while ensuring compliance with certain contractual obligations;
  • Safekeeping and preservation of funds and/or documents; professional and prudent investment of funds if applicable;
  • Objectivity of an independent party in handling escrow assets or funds and in ensuring that all conditions required in the Escrow Agreement are met;
  • Timely delivery of escrow documents and funds to designated parties.

Client Suitability

The service is suitable for the following clients:

  • Individuals or corporations engaged in the purchase or sale of properties
  • Investors/businessmen involved in the buying and selling of shares of stocks of corporations
  • Real estate brokers
  • Any other business or personal transaction involving buying and selling that requires an independent party to oversee that the transaction's objectives are met

IF THE PARTY IS A CORPORATION:  

  • Notarized Secretary's Certificate on the Board Resolution authorizing the corporation to: a) enter into an Escrow Agreement with the other party and BDO Trust and Investments Group; and b) designating the authorized signatories
  • Copy of Certificate of Filing of Articles of Incorporation and By-laws issued by the Securities and Exchange Commission with the Articles and By-laws annexed certified true by SEC or the Corporation's Corporate Secretary
  • List of the directors/officers and list of stockholders holding more than 2% stockholdings
  • Two (2) Specimen Signature Cards and Customer Account Records duly signed/accomplished by the authorized signatory/ies of the Corporation (to be provided by BDO-Trust) duly authenticated by the Corporation's Corporate Secretary;
  • Photocopies of two (2) valid identification cards from the authorized signatory/ies.

IF THE PARTY IS AN INDIVIDUAL:  

  • Two (2) Specimen Signature Cards/Customer Account Records to be provided by BDO-Trust) duly signed/accomplished by the party;
  • Photocopies: Picture and signature pages of acceptable identification cards (passport, driver's license, SSS, TIN etc.).

ADDITIONAL REQUIREMENT

A copy of the Memorandum of Agreement, Contract to Sell or other principal document executed by the parties prior to the execution of the Escrow Agreement (i.e. Contract to Sell for sale/purchase of property, MOA for sale/purchase of stocks etc.)

You are inquiring about Buy & Sell Escrow

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