Escrow for properties in Spain, Florida, etc... any interest?
We mainly run an escrow service for import/export to protect their trade and ensure they get paid, but have today just trained up two agents to help one client sell his products to the property development market, and escrow was raised as an added product for them. Is there any interest in using it from anyone here?
There are several ways we could offer a service - e.g.. holding deposits in the UK on new developments o.seas until they're complete and approved by the buyer. As we have a partnership with a trade finance source we can also work to help developers leverage the deposits to raise much of the finance to conduct all building and completion (with other insurances in place to protect the deposits and investment).
There are other applications for this and we will be talking to a number of developers in the next few weeks.
Anyone else want to chat?
Michael Bond Founder, Sterling-Bond