Put simply, escrow is used to make sure the funds of a real estate transaction change hands at the moment of a closing. That is not the legal definition of escrow, but it is the underlying reason to use escrow. If you are a buyer, you want your funds in the seller’s account only once the deal closes – not before. If you are a seller, you want your money when the deal closes, not later. An escrow company is the neutral entity that holds the funds until the closing is completed and disburses the funds.
LATIN AMERICA – Brazil, Argentina presidents say trade deal with EU is near. | COSAT RICA – Concentrix says it will add 600 jobs in Costa Rica. | VENEZUELA – Deutsche Bank takes 20 ton of gold after government defaults on loan. | MEXICO – BMW official opens its $1-billion assembly plant in San Luis Potosi.
LATIN AMERICA – Wyndham rolls out Trademark Collection with Belize property. | BRAZIL – Shell plans to invest billions in Brazil in the coming years. | COLOMBIA – Bird tourism is taking off – but there’s threats to habitat. | MEXICO – Senate OKs labor bill that gives domestic workers more protections.
LATIN AMERICA – Online retail giant, South American nations fight over .amazon | BRAZIL – Malaysia’s oil company buys stake in Petrobras’ deepwater assets | CHILE – Chile makes pitch to become China’s hub for Latin America | MEXICO – India-based tech services company plans to operate in Mexico.
LATIN AMERICA – Region’s logistics, supply-chain operations draw investment. | PERU – Peruvian police, military lead crackdown on illegal mining. | BRAZIL – Ford Motor Co. shuts down plant in São Bernardo do Campo. | MEXICO – AMLO says no more joint oil deals until further notice.