This form is used when a Principal and an Agent enter into a Escrow Agreement for the purpose of setting forth the terms and provisions by which the Agent will act as trustee for the holding of earnest money paid by a third party to the Principal under the Agreement.
Arizona Escrow Agreement for Sale of Undivided Interest in Oil and Gas Leases
Category:
State:
Multi-State
Control #:
US-OG-212
Format:
Word;
Rich Text
Instant download
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How to fill out Escrow Agreement For Sale Of Undivided Interest In Oil And Gas Leases?
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FAQ
In summary, escrow is when a third party manages the money and transactions between a buyer and seller. For a real estate transaction, for example, a buyer would deposit their money with the escrow company. Once the selling and contract process is over, the escrow company would then disburse the money to the seller.
Unless otherwise instructed in writing by the parties, the escrow charges and recording/filing fees shall be paid one-half by Buyer and one-half by Seller.
The first part of the escrow process is the opening of an account in which deposits and any other payments can be held. The buyer must wait for bank approval, secure financing, get inspections completed, purchase hazard insurance, do walk-throughs, and go through closing.
Escrow Fees in Arizona The escrow fees may vary depending on the company you choose. However, the fees are generally $2 for every $1,000 of the property's sale price. Some escrow companies may provide a flat fee regardless of the price of the property.
How the Arizona Escrow Process Works. The escrow process starts in Arizona when the purchase contract between the buyer and seller is finalized. Once the purchase offer is accepted, the buyer's realtor will open escrow, and the earnest money will be delivered to the escrow agent.
Here in California, most seller disclosures are due to the Buyers within the first 7 days of escrow. If the property is located in a planned community with a Homeowner Association, the Escrow Officer will order Homeowner Association documentation, and then send directly to you, along with the Preliminary Title Report.
