How Escrow Services Enhances Trust & Reliability with Buying & Selling
Have you ever found yourself about to make a financial commitment, only to be worried about the integrity of the person on the other side of the deal?
You most definitely would have found yourself in this situation before. The rise of the internet, as well as trading across international boundaries, has brought a lot of changes.
Nowadays, we buy things and transact with people and businesses we barely know. This development has made it easier for people with fraudulent intentions to attack unsuspecting individuals.
spacetechprofits work in this regard to minimize your risk and protect you from scams and frauds.
What is Escrow?
It will interest you to know that not many people understand escrow’s meaning. The Balance describes escrow services as a kind of arrangement in which you use a neutral third party who is neither the buyer nor the seller to hold something of value. This thing could be money, deed, or some other valuable instruments.
You see, this third party is referred to as the escrow and they are usually neutral and disinterested in the transaction. What the escrow basically does in a transaction is to ensure no one (either buyer or seller) fail in sticking to their end of the bargain.
You’re probably wondering how this works. So, let’s shed more light on it.
In every buying and selling transaction, both parties agree to do certain things. The buyer agrees to pay a particular amount at a particular time while the seller provides the “asset” or “service” being sold.
As simple as it seems, not every transaction happens that way and some are somehow complicated.
In many instances, the buying party might want to inspect the goods or property before paying. The seller, on the other hand, will also want assurance that he or she would get paid the due amount. It could also be that the item being sold is a service instead of a physical product.
In cases like these, both parties will have to arrive at an agreement. To reduce inherent risk and enhance safety, an escrow company, therefore, acts as the “referee” between both parties.
Escrow services are then like a middleman who acts to safeguard assets which could be money or other things, to enhance safety and ensure both sides meet up their expectations.
Provided the transaction goes as agreed upon, the escrow provider then disburses the funds, document, or instrument according to the agreed terms.
When Can You Use Escrow Services for Transactions?
Escrow services are commonly used in real estate transactions. Although it is widely used in the sales and purchases of both residential and commercial real estate, it can also be used in a variety of other high-value transactions. These other cases include OTC transactions, 1031 tax-deferred exchanges, property sales, and business sales.
Escrow services can also be used in income/investment properties transactions, as well as short sales and FSBOs. They are also suitable for both FHA and Conventional Refinance and FHA and VA Purchases, and cryptocurrency exchanges, among a host of other uses.
You can easily use escrow services for virtually any high-value transaction in which you are not totally sure of what to expect on the other side.
This service helps to minimize your risk and you can easily focus on the deal rest assured that you’re transacting safely.
Finding a Reliable & Trustworthy Escrow Service Provider
The role an escrow provider plays is a very important one. This means you can’t afford to leave the job to just anybody fronting as an escrow agent.
You’re entering into this agreement basically to protect your interest.
It is therefore important that you choose a reliable and trustworthy escrow company. How then can you find one? Here’s the secret!
There are a lot of escrow service providers but if you want personalized services tailored to fit your specific transaction, there are a lot of valuable reasons you’ll want to choose Chain Trust Escrow.
It’s no doubt that reliability and trustworthiness rank atop every other reason for which you’ll need escrow services. Chain Trust guarantees this assurance and nothing (money, deed, or instrument) will change hands unless all of the terms in the agreement have been duly met.
Chain Trust Escrow: Assessing Reliability & Trustworthiness
We were discussing the issues of reliability and trustworthiness before we cited Chain Trust Escrow as a worthy example. Let’s briefly look at this escrow provider to see what makes it so genuine and trustworthy.
As it turns out, many of these qualities would be non-existent in most of the other fraudulent escrow companies who are only after some hidden ulterior motives.
Duly Licensed & Regulated by the Appropriate Authorities
Chain Trust Escrow, as a full-service escrow company, operates from its offices spread across the UAE, USA, and London. With License №1810230640, the firm is duly licensed by the State of Oklahoma’s Department of State.
The company, therefore, has to operate within strict and tightly regulated guidelines which aimed at ensuring the complete satisfaction and benefits of clients.
Definite Details & High-Level Transparency
Chain Trust Escrow has definite addresses across these countries are duly licensed by US state authorities. Most of these other unreliable or fake escrow companies are lacking in this regard.
Their details are usually sketchy and they are usually not licensed. You get to enjoy increased transparency and security of your funds with unfettered access to your account activity.
Secured Website Protects & Safeguards Users’ Info
Chain Trust’s website is safe and secure, protected by SSL. Although this is not a guarantee of legitimacy, it helps to protect users’ sign-in information.
However, this feature is mostly absent on websites of fraudulent or unreliable escrow companies. The online portal also gives users a secure electronic access that makes it easier and safer to digitally manage and establish accounts.
And then, the issue of escrow fees.
Affordable But Reasonable Escrow Fees
You know by now that when it sounds too good to be true, it probably is!
Most fraudulent escrow companies would charge embarrassingly low fees such as a flat $2.00.
It’s not like Chain Trust escrow and the other reputable companies charge outrightly expensive fees.
Reliable and authentic escrow companies such as Chain Trust charges affordable but reasonable prices.
This, at least, is reasonable enough to keep the business running fine without clients feeling like they are being robbed of their hard earned money.
But that’s not even all!
Beyond reliability and trustworthiness, Chain Trust Escrow gives you a further advantage.
Their process is quite simple and the administrative costs are some of the most competitive you can find around. Escrow service is also not a “one size” fit all thing. Chain Trust manages to customize their processes to offer enough flexibility to fit the need of each specific escrow agreement.
It makes sense if you want to contact Chain Trust Escrow for your escrow services or additional info.
You’ve got nothing to lose, but a whole lot to gain in return.