When you make a real estate transaction, it is important that you know the importance of having an Escrow service. This is a legal figure in which, a financial instrument or an asset is deposited with a third party that will act on behalf of those involved to complete a transaction.
Escrow offers you different benefits to ensure efficiency and transparency in the transaction:
- The funds or assets remain under warranty, until the obligations established in the contract are fully fulfilled.
- With this figure, the protection of all parties involved in the transaction is ensured and it facilitates the correct exchange of benefits.
- It allows for all necessary checks to the potential acquisition, while assuring the seller of his or her purchase capacity.
- When the conditions for the making of the sale are verified, the buyer and the seller make use of the security deposit.
- The mechanism is as follows: when the buyer makes the payment, it is directed to a security deposit and once the due compliance with the conditions is verified, the payment is channeled.
- The main advantage offered by Escrow is security for the parties involved in the transaction.
Spending time in Mexico gives you the exclusive opportunity to witness and experience the inherent deep culture and history that makes this country great. Living in Mexico can be a dream come true. Contact us if you need help buying a house in this country and we will assist you.
With 14 years in the Mexican market, MEXLend’s experience in the world of business and Real Estate has no parallel.
MexLend is the most experienced residential mortgage broker in Mexico. We will be with you throughout the process of buying a home, which includes obtaining home loans and guarantee deposit services anywhere in Mexico.
