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TOLL FREE USA & CANADA:
1-800-582-2174
MEXICO PHONES & FAX:
+52 ( 322 ) 221-0821
+52 ( 322 ) 221-1865
+52 ( 322 ) 221-3251
OFFICE ADDRESS:
Marina Las Palmas II
L-19, Puerto Vallarta
Jalisco, Mexico. 48354
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International Escrow Services
When you are involved with a real property transaction
in the international market, a Title
Insurance Company can provide Escrow Services as an
independent and neutral holder of funds.
Funds held in Trust
First American Title Insurance Company is the second largest title insurer in the
world, with revenues of $8 billion.
First American has an international escrow account arranged through a major US
bank based in Miami, Florida to securely hold deposits, proceeds from sales,
and/or purchase funds.
As an independent escrow agent, First American will only disburse funds
pursuant to your instructions.
Your funds held in trust by First American will be used as directed by you, giving
you peace of mind and security.
First American, pursuant to your instructions, will disburse the funds to pay
mortgages, real estate commissions, taxes due at closings, closing fees, notary
fees, and/or the purchase price.
A secure placement of your funds in Escrow with First American
allows both the seller and the buyer to know that the cash will be
available at the time of closing.
First American Title Insurance Company can act as:
• Custodian of funds
• Disbursement agent
• Neutral third party guaranteeing the availability of funds
Frequently Asked Questions
Q. What do I need to open an Escrow?
A. For First American to act as escrow agent on a real property
transaction, the Company requires an Escrow Agreement signed
by both Buyer and Seller.
Q. How much does the Escrow service cost?
A. Our Escrow fee is a one-time fee of $550 USD and includes up
to 10 disbursements. This is a non-refundable fee.
Q. How long can we have Escrow open?
A. The Escrow remains open until the transaction closes and all
funds are disbursed.
Q. How are the funds disbursed?
A. At closing, First American is provided with a letter of
disbursement itemizing amounts and names of payees signed by
all parties to the Escrow, along with satisfaction of all
contingencies of the Escrow. First American requests wiring
instructions on the letter of disbursement in order to expedite
payments. The payments may be completed by wire transfer,
certified check, and/or First American check.
Q. Do I receive interest?
A. No, the account is non-interest bearing. However, an interest
bearing account may be available at an additional cost. |
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