4 Steps For Completion of Escrow Application & Escrow Agreement

Prados Del Rio

 

Step One:  Complete The Escrow Application

 

The Escrow Application is a PDF file. Therefore, it will need to be printed out and is NOT attached to the Option To Purchase Agreement. Purchaser/Depositor completes the following.

Go to page 5 and complete the section under DEPOSITOR.

o For “Amount of Transaction” write “$_________”.

o For “Date of Closing” write, “Unknown”.

o Leave the Seller section on page 5 blank.

 

STEP 2 COMPLETE THE ESCROW AGREEMENT

The Escrow Agreement is attached to the Option To Purchase Agreement, as attachment C.

  1. Complete the date and Purchaser’s/Depositor’s information in the first paragraph of the escrow agreement.
  2. Complete Purchaser’s/Depositor’s name on section 11 of the Escrow Agreement and sign under section 11 where indicated.
  3. Complete the section labeled “Depositor/Purchaser Information” under Exhibit C of the Escrow Agreement.
    1. For “Amount of Transaction” write “$________”.
    2. For “Date of Closing” write, “Unknown”.

 

STEP 3 WIRE THE FUNDS

 

Wire the funds per the following instructions and keep a copy of the wire transfer receipt. NOTE: There is a $27.25 transfer fee due to international bank commission fees. The total amount wired is $20, 850.00, the Minimum Deposit Amount (15% of purchase price).


Wiring Instructions:

Comerica Bank

2015 Manhattan Beach Blvd.

Redondo Beach, CA 90278-1205

Federal Routing Number #111000753

Account Name: STCR Costa Rica Trust & Escrow Company Limted S.A.

Account Number: 1881066805         

 



 

 

STEP 4 FAX THE FOLLOWING DOCUMENTATION

 

Fax the following immediately after the wire transfer is completed per the instructions below. If Stuart Title does not receive the paper work WITHIN 3 BUSINESS DAYS of receipt of the wired funds, it will return the funds.


FAX NUMBER: 407-386-1074
ATTENTION: Holli Smith, Ameri-Vida Financial

 

DOCUMENTATION TO FAX:

  1. If the Purchaser/Depositor is an individual, fax a copy of their passport, state drivers license, or state identification card;
  2. If a corporation/LLC or other legal entity is the Purchaser/Depositor (3 ITEMS):

o A copy of documentation showing the legal right to act on behalf of the company (bylaw, power of attorney, certificate of authority); AND

o A copy of the authorized individual’s passport or drivers license acting on behalf of the legal entity; AND

o A Certificate of Status showing from the state of incorporation showing that the legal entity is valid and in good standing;

  1. Copy of the wire transfer receipt showing the funds were transferred;
  2. A copy of the completed Escrow Application (it does not need the Seller section completed);
  3. A copy of the completed Option To Purchase Agreement (it does not need the Seller’s Signature) and the Escrow Agreement that is attached to the Option To Purchase Agreement.



 

Please read the entire Escrow Application and Escrow Agreement. The above is just a summary of the steps and does not represent the terms of the Escrow Application or Escrow Agreement.