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Off-Plan Sale Escrow Account
Off Plan Sales, Sale on Map, and Real Estate Escrow Account are different names for a bank account designated for under-construction property
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Benefits:
Mitigating Risk for Developer – Escrow Agreements provide the Real Estate Developer customers safeguard when dealing with third party entities by mitigating counterparty risk and holding paid-in amounts in this account blocked for this purpose. The Developer receives payments to cater to the cash flow needs of the project.
Easily Manage Collections – This product can be combined with Riyad Collect in order to provide unique virtual IBAN to the end-buyer (Real Estate Developers’ customer). This also provides full visibility on transfers and ease of reconciliation for the developer.
Mitigating Risk for Buyer – Escrow Account also provides security to the Buyer, because unless all the conditions are met on the “sale”, the funds are not released to the Developer.
Reporting – Customized reports of funds received and disbursed can be sent to Real Estate Developer.
Quick and secure process
Fill and sign the agreement
Download the editable PDF, fill it in, and sign it. Then, visit the nearest location listed below to proceed.
Off-Plan Sale Escrow Account
Off-Plan Sale Escrow Account
Congratulations
Off-Plan Sale Escrow Account
Off-Plan Sale Escrow Account
Apply Online - Off-Plan Sale Escrow Account
Please complete the form below
Thank you for applying. Your Reference Number is
A representative from Riyad Bank will contact you to complete your request.
Keeping in mind that a current account is required to obtain any product or service from Riyad bank, if you do not have one yet, you can open an account from
here
Need help?
Riyad Line:
800 124 2225
