The account is mainly used in case of purchase/sale of real estate and guarantees the interest of both parties in the deal – that of the purchaser and that of the seller. Access to the funds on this type of account is usually possible on presenting a notary deed and a document certifying there are no encumbrances on the real estate that is the object of the purchase/sale.
- An opportunity to preliminary specify the terms and conditions that should be fulfilled before operating with the funds;
- The bank as an independent moderator observes that the conditions for operating with the funds on the account are strictly followed
- Confidence with the transactions made on the account.
Currency: BGN, EUR, USD. For non-cash banking operations - BGN, EUR, USD, GBP
Opening an account: At bank offices after presenting the necessary documents.
Documents required to open an account
- Identity cards of the physical persnons/individulas –– holders of the Special Escrow account;
- If any of the parties is a juridical person, the latter should present documents as required for opening a current account;
- An agreement between the purchaser and the seller (could be preliminary).
Accrual: no rate is accrued
Fees and commissions: Fees and commissions are in compliance with The List of terms and conditions of the bank.