Escrow services in multiple currencies:

• USD
• Canadian Dollar
• Mexican Peso
• Euros

Closing a transaction in a foreign country can be daunting.  Whether it’s a business transaction or a real estate purchase, utilizing a trusted Escrow source can alleviate your fears.

MEXLend has been in business in Mexico for over 20 years.  Our experience in real estate and business transactions is unparalleled.

What is an Escrow account and why is it used?

Escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction. The funds or assets are held in Escrow, until we receive the appropriate instructions or until predetermined contractual obligations have been fulfilled. Money, securities, funds and other assets can all be held in escrow.  This ensures that all parties in the transaction are protected.

Escrow and Buying Real Estate in Mexico

Escrow accounts are used in real estate transactions so that the buyer and notary can perform due diligence on a potential acquisition while assuring the seller of his capacity to close on the purchase. For example, an escrow account can be used for the sale of a house. If there are conditions to the sale, such as clean title, certificate of no liens and inspections, the buyer and seller should agree to use escrow.

In this case, the buyer of the property deposits the payment amount for the house in an escrow account. Closings in Mexico take time, and escrow gives the seller the assurance that the buyer is capable of making payment. Once all the sale conditions are met, the escrow transfers the payment to the seller, and the title is transferred to the buyer.