 OT: stupid question, Escrow? |
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| SirAndy |
  May 23 2008, 05:25 PM
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Resident German  Group: Admin Posts: 41,688 Joined: 21-January 03 From: Oakland, Kalifornia Member No.: 179 Region Association: Northern California  |
How exactly does Escrow work? (IMG:style_emoticons/default/idea.gif) from what i gather, the escrow company is kinda like a Notary with a Bank and i put in the funds and they'll hold them until certain terms in the sales contract are fulfilled and then release the funds to the seller ... am i close? (IMG:style_emoticons/default/shades.gif) Andy |
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| HeavyHeavy |
May 23 2008, 06:34 PM
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Member Group: Members Posts: 62 Joined: 7-June 06 From: Albuquerque Member No.: 6,177 |
I'm sure it's the same concept then. The escrow company
will pay the previous owner the money that you put into escrow when it determines that the liquor license can be handed over to you without also handing over any problems that the previous owner should take care of. They need to make sure that you are not purchasing problems along with your liquor license |
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Posts in this topic
SirAndy OT: stupid question, Escrow? May 23 2008, 05:25 PM
race914
How exactly does Escrow work? :idea:
from what... May 23 2008, 05:34 PM HeavyHeavy More or less. It depends a little on the context.... May 23 2008, 05:36 PM sww914 Yes. They're the impartial money holders. Afte... May 23 2008, 05:36 PM TROJANMAN My uncle in Nigeria has an escrow company that com... May 23 2008, 05:49 PM SirAndy not for real estate ...
i'm buying the liquor... May 23 2008, 06:21 PM
ericread
not for real estate ...
i'm buying the liquo... May 23 2008, 06:37 PM Pat Garvey Well, an escrow agreement is definitely NOT limite... May 23 2008, 06:37 PM rhodyguy the escrow co should provide info as to any liens.... May 23 2008, 10:49 PM DNHunt Just my opinion, If you are buying a business get ... May 24 2008, 08:05 AM Cap'n Krusty Escrow protects both the buyer and the seller. If... May 24 2008, 12:08 PM kwales And escrow says you are serious enough about the t... May 24 2008, 12:12 PM SirAndy yes, i do have an attorney. i just wanted to make ... May 24 2008, 02:38 PM yellow914 in a business escrow it is typically handled by an... May 24 2008, 10:44 PM |
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