Buy and Sell Escrow

 

BDO oversees your deals from start to finish. The bank acts as an escrow agent to protect the interests of the contracting parties while the terms and conditions of the principal contract are being fulfilled. Avoid taking unnecessary risks. Enjoy peace of mind when you enter into any transaction. Call us now!

 

For individual clients, we offer services such as Buy and Sell Escrow.

ESCROW SERVICES - BUY AND SELL

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 with no hassle.

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.

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

Benefits to Clients

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

Documentation

Buy and Sell Escrow Documentation Requirements:

IF THE PARTY IS A CORPORATION:

  • Duly notarized Board Resolution/ 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
  • Photocopy of the Articles of Incorporation and By-Laws and Certificate of filing Articles of Incorporation and By-Laws duly authenticated by the 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.