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Escrow Agreement Sample

This escrow agreement is between a seller, buyer, and escrow agent regarding the sale of a property. It establishes that the closing will take place on a specified date and time at a named office. It also states that the buyer has deposited a down payment of a specified amount with the escrow agent. At closing, the escrow agent will pay the deposited funds to the seller upon transfer of title to the buyer. If closing does not occur, the funds will be held until written instructions are received from both parties. The agreement also specifies that the escrow agent assumes only liability as a stakeholder and will not be liable for acts done in good faith.

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834 views2 pages

Escrow Agreement Sample

This escrow agreement is between a seller, buyer, and escrow agent regarding the sale of a property. It establishes that the closing will take place on a specified date and time at a named office. It also states that the buyer has deposited a down payment of a specified amount with the escrow agent. At closing, the escrow agent will pay the deposited funds to the seller upon transfer of title to the buyer. If closing does not occur, the funds will be held until written instructions are received from both parties. The agreement also specifies that the escrow agent assumes only liability as a stakeholder and will not be liable for acts done in good faith.

Uploaded by

anon_528005221
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOC, PDF, TXT or read online on Scribd
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Escrow Agreement

This Agreement shall be effective as at ____________

This Escrow Agreement is between:

Seller [Legal Name]

Located at [Address]

[City], [State] [Zip Code]

&

Buyer [Legal Name]

Located at [Address]

[City], [State] [Zip Code]

&

Escrow Agent [Legal Name]

Located at [Address]

[City], [State] [Zip Code]

This Escrow Agreement is entered into at the same time as the above Seller
and Buyer have entered into a Contract of Sale and Purchase of Real Estate.
This Escrow Agreement is hereby placed together with the Contract for Sale
and Purchase of Real Estate Contract.

The closing of the Real Estate Contract will take place on:

____/____/______ at ____:_____ AM / PM

At the office of:

Name: ____________________________

Address: _________________________

City: __________ State: ___ Zip: ____ As per the Real Estate Contract, the
Buyer has deposited with the above listed Escrow Agent a down payment in
the amount of:

$_______________

At the closing, the Escrow Agent will pay the amount that is deposited to the
Seller or in accordance with the Seller's instructions. At which time the
Escrow Agent will make the necessary transfer of title to the said property to
the Buyer.

If there is no closing according to the Real Estate Contract. The Escrow


Agent will withhold all money that was deposited until he or she receives
written instructions that are signed by both the Buyer and Seller regarding
the handling of all deposited funds. If the Escrow Agent does not receive the
proper instructions signed by both parties the Agent may either bring action
or proceedings to determine the correct handling of the deposited funds or
the Agent may continue to hold the deposited funds until further notice. The
Agent is hereby under no obligation to bring action or proceeding to
determine the handling of deposited funds.

The Escrow Agent hereby assumes only the liability of stakeholder. The
Agent shall incur no liability whatsoever to anyone except for acts in bad
faith and willful misconduct or gross negligence. All parties excuse and
hereby release the Escrow Agent for all acts done or omitted in good faith.

Applicable Law

This contract shall be governed by the laws of the State of __________ in


__________ County and any applicable Federal Law.

_______________________ Date_____
Buyer Signature

_______________________ Date_____
Seller Signature

_______________________ Date_____
Escrow Agent Signature

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