Real Estate Escrow Account is a bank account designated for property development, in which all payments by buyers for the construction of the off-plan project are credited into this account.
An Escrow Account provides security to both the Developer and the Buyer, because unless all the conditions are met on the “sale” the funds are not released to the Developer, whereas the Developer receives payments to cater for the needs of the project to keep it going.
Customized MIS of funds received and disbursed
Ability to receive funds through a bank transfer
Periodic reporting to MOCI
All corporate clients are eligible