Want to know about
real estate escrow Dubai transaction? It
is a kind of closing procedure as per which a deed is been rendered by a party
to an agent who is addressed to cater the same to a grantee or another party assuring
meeting of specified conditions. The specified terms and conditions are quite
often and not been contingent based on the buying amount that is been supposed
to be given to an escrow agent.
An escrow transaction
closing only differs from others in a way that in this process, buyer and
seller need not to meet on face to face basis. Otherwise everything is been conducted
and followed in the same way like of conventional closing covering delivery of
deed, written agreement or contract, delivery of payment, and more. An escrow agent actually
works as a mediator or professional in between both buyer and seller and charge
some fee for handling the process. In an escrow real estate transaction, both
parties including a buyer or a seller enter in a contract as per which a
specified amount is been paid for a particular piece of property.
Both the parties then
hire an agent like bank to handle that matter and the transactions could also
be used to exchange deeds to the real estate. When it comes to escrow closings,
it has its own advantages and disadvantages. As compared to other closings, definitely
escrow closings have a higher success rate and also keep on protecting either
of the party to change their mind. It is always good and promising to get in touch
with a professional real estate lawyer Dubai and let him or her handle everything
without any hurdle. Search online for a reputed and known one and meet all the requirements
related to conveyancing to the core.
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