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What Information is Collected
Moontechfx Escrow only collects personally identifiable information you voluntarily provide in order to obtain our customized products and services. Personally identifiable information includes first and last name, physical address, e-mail address, valid government issued ID, proof of address e.g: Utility bill receipt or bank statement in order for Moontechfx Escrow to provide specialized services. In addition, when Moontechfx Escrow products are sold through this Website, we may also collect certain financial and business information about your credit, bank account(s), digital currency wallet or other financial information, the business purpose for which you desire to use Moontechfx Escrow and other information necessary for Moontechfx Escrow to provide you with it’s services. All of the information you provide us is treated as confidential by us. This information is used specifically by Moontechfx Escrow to provide products and/or services requested by our customer. Under no circumstance is personal information shared with any other source or third party that is not required to deliver the products/services requested by the user, or by law. We do not sell our customers’ personal information. Your confidential information that is stored by Moontechfx Escrow is maintained in a highly secure environment, not available to the general public, which includes, but is not limited to, Internet and physical security, as well as strict managerial policies and procedures
We respect the privacy of our users. We offer personalised services to our clients while maintaining a high level of confidentiality. Discretion, courtesy and respect are the foundation of our service.
Escrow FAQs
Can't find the answer you need? Please contact us and we will be happy to help!
Escrow is a service which provides the public with a means of protection in the handling of funds and/or documents. Escrow enables the Buyer and Seller to transact business with each other through a neutral party, thereby minimizing their risk. In the Escrow, all parties involved give their instructions to this neutral intermediary, the “Escrow holder” whose duty it is to assure that no funds or property will change hands until all instructions have been carried to completion. Breaking down Escrow: Very simply defined, an escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a particular condition, agreement or event. The New York Escrow Law – Section 17003 of the Financial Code – provides the legal definition.
Most contracts that involve the transfer, lease, or financing of real or personal property can be placed in Escrow. You may be involved in Escrow not only when you buy or sell a home, but also when you buy a mobile home, sell a business, or transfer stock in a closely held business. Prize fighters have even been known to have their purses guaranteed through an Escrow depository. The Buyer and Seller should demand the protection of Escrow for any transaction with a substantial investment.
Escrow acts as an impartial, neutral party. Simply described, it’s our job to be sure certain terms of the purchase agreement have been fulfilled before we authorize the transfer of title from seller to buyer and the transfer of funds from buyer to seller. We collaboratively work with: seller, buyer, listing and buyer’s agents, Property Owners, lender, homeowners association, title company, termite company, home warranty, fire insurance, and lien holders. Funds and documents from all of these entities are deposited with escrow, reviewed and held until closing.
If the transaction is contingent upon a new loan, it is your responsibility to arrange this loan. Your Agent can be helpful in obtaining a Lender, since he or she actively participates in the particular industry you are dealing with.
When the Escrow Instructions have been prepared, read them carefully to determine that they are complete and properly reflect your total agreement. If you have questions or concerns, discuss them with the Escrow holder before signing. Once the instructions have been signed, they become the basis for the conduct of the Escrow.
An Escrow Officer is NOT a legal counselor and cannot give you advice. Remember, the purpose of Escrow is to take, and comply with, instructions to carry out the mutual agreement of the principals. In the event of a disagreement of the parties, the Escrow Officer must remain neutral until an agreement is reached.
No, and you may want to do some research on this. There are other licensing agencies such as the Department of Insurance; none require the level of safeguarding and standards as the Department of Business Oversight (DBO). Many don’t require things like trust fund insurance, financial liquidity requirements, net worth requirements and background checks. We believe these are vital to the protection of your funds and we strictly adhere to these guidelines and standards.
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Whether you are the Buyer or the Seller, you want assurance that no funds or property will change hands until all of your instructions have been followed.
The Escrow Officer is a trained and experienced professional. He or she can provide you with the assistance required to close your transaction quickly and effectively. This professional person may, under the terms of the instructions, make the decision that the conditions of Escrow have been met, and then order the transfer of the affected real or personal property to the interested parties. Many Escrow Officers proudly display their professional designations of certification and show these designations on their business cards and letterhead. The designations indicate that this person has met the high standards of education and experience required for certification by the Oklahoma Escrow Association.
No. Funds are held in a non-interest bearing account and do not earn interest while held by us in Escrow.
You can begin by sharing with us how we can make it go more smoothly for you. Do you like email or phone calls? Do you have multiple mailing addresses? Do you prefer to meet up with our representative to sign documents or to work through them on your own at home? Aside from that, watch for mailings and email from our office and do your best to respond quickly. Much of what we do is time sensitive and delays cause more delays down the line. Our documents should be clearly marked in the spots that need to be signed/initialed/notarized. If you have questions on them, please be in touch! We’re happy to help!