Escrow Agent Services2024-07-17T10:53:40+00:00

Escrow Services in Kenya

Why Our Escrow Services

Escrow agent services in Kenya provide a secure and reliable means to facilitate transactions by acting as a neutral third party. An escrow agent holds funds, documents, and assets on behalf of the parties involved in a transaction until all the terms and conditions agreed upon are met. This service ensures that both parties fulfill their obligations before the transaction is completed, reducing the risk of fraud and enhancing trust. Common transactions requiring escrow services include real estate deals, mergers and acquisitions, and other high-value agreements. Utilizing WTT Lichuma Advocates LLP as you escrow agent provides peace of mind, as we manage and oversee the transaction process, ensuring compliance with legal and contractual requirements.

ESCROW AGENT SERVICES

When you receive an offer on your business, it is time to open escrow. Wtt Lichuma Advocates LLP will safely hold your buyer’s money while the details of the transaction are finalized and you prepare for closing. Meanwhile, we will work diligently as a neutral third party to ensure that you are protected and fully compensated for the sale of your business

When you are ready to buy a small business, you will need a neutral third party to secure your deposit and meet your closing needs. Choose the one with vast experience in both simple and complex small business transactions; the one that offers flexibility to meet requirements of your unique transaction; the one that is built on integrity and accuracy. Choose Wtt Lichuma Advocates LLp.

Providing Solutions for Escrow Disputes

Your Escrow Lawyers

Reach a mutual agreement and close more efficiently with our escrow agent services. With important documents such as titles and deeds at stake, you need legal counsel to prevent breaches of contract and avoid the risk of unnecessary fees. Our escrow lawyers at WTT Lichuma Advocates LLP can step in to effectively negotiate and resolve any disputes that arise.

REAL ESTATE ESCROW LAWYERS IN KENYA

Real Estate Escrow Settlement Services

The experienced, professional lawyers at WTT Lichuma Advocates LLP take pride in providing personalized escrow services to our clients. Whether you are planning to purchase, sell, or refinance, we can successfully close your transaction. We offer exceptional service to residential and commercial buyers and sellers at competitive rates. Our escrow services lawyers are skilled at resolving complicated title problems and other legal issues in order to ensure trouble-free closings for our clients.

We offer escrow closing services to buyers and sellers of real property in Kenya and handle the receipts and payments for these transactions through our Kenyan accounts.

In the case of a real estate transaction in Kenya when acting as the settlement agent, we would receive the full payment from the buyer, and at the closing, we would disburse payment to the seller, disburse payment to the broker (for realtor commissions, if any), disburse payment to the Seller’s and Buyers attorney (for legal work), insure all real estate taxes and other municipal liens such as water sewer and electric are paid in full and disburse payment to any other party directly involved in the transaction that must be paid as part of the buy/sell agreement.

The primary purpose of escrow title lawyers is to:

  • Provide the seller with the assurance that the buyer has the funds to pay for the transaction since we can confirm that the funds have been paid into the escrow account.
  • Provide the buyer with the assurance that the property has had a proper title search completed, issue an owner’s policy of title insurance to the buyer, provide the buyer with a Certification of Title if required under the Kenyan General Laws and in general to make sure the legalities of the transaction have been met to protect the buyer’s interests.
  • Provide the buyer with the assurance that the various parties involved in the transaction will be paid according to the purchase and sale agreement.

Our law firm works with both buyers and sellers around escrow services throughout Kenya, including Nairobi, Kisumu, and any other counties in Kenya

Call our escrow services lawyer at (254)702380889 for a free consultation at our location

Removing Any Possible Doubts of Blackmail For Buyer/Seller

Five reasons you need Escrow lawyers as your neutral third party:

Experience with small business transactions. WTT Lichuma Escrow attorneys do one thing – small business transactions – and we do it well. We deliver solutions tailored to your specific transaction, whether simple or complex. We coordinate with third party lenders, franchisors, debtors, landlords, and any other parties involved in the transaction. Our team of professionals offers the support and resources you need even after your closing.

Simple and flexible fee schedule. Your basic escrow package will be based on our published fee schedule and includes the core services required to complete small business transactions, such as tax and corporate status searches; preparation of escrow instructions and settlement statements; collection and disbursement of funds at closing; prorations, filings and recordings; and more. This will allow you to plan and prepare based upon these costs instead of worrying about hourly billing or unknown costs. Upon request, we will prepare an estimate of your closing costs ahead of your scheduled transaction.

Secure holding of funds. When you deposit earnest money with Lawyers Escrow Company, you can be confident your funds are secure. We hold your money in a separate escrow account, and only disburse the funds upon the meeting of specified contingencies.

At WTT Lichuma Advocates LLP, we know what buyers need, because we know small business transactions. It’s the one thing we do, and we do it well.

Removing Any Possible Risk Of Blackmail For Brokers

Five reasons you need Wtt Lichuma Escrow LAWYERS to close your deals:

FAQ’s on Escrow Agent Services in Kenya

What is an escrow agent?2024-07-05T11:34:38+00:00

An escrow agent is a neutral third party that holds funds, documents, or assets on behalf of the parties involved in a transaction until all the terms and conditions of the agreement are met. The agent ensures that both parties fulfill their obligations before the transaction is finalized.

What types of transactions typically require escrow services in Kenya?2024-07-05T11:36:04+00:00

Transactions that commonly require escrow services include:

  • Real estate purchases and sales
  • Mergers and acquisitions
  • High-value commercial agreements
  • Intellectual property transactions
  • Online sales involving large sums of money
How do escrow services benefit the parties involved in a transaction?2024-07-05T11:36:49+00:00

Escrow services provide several benefits, including:

  • Security: Funds and assets are securely held by a trusted third party.
  • Risk Reduction: Minimizes the risk of fraud or default by ensuring that all conditions are met before the transaction is completed.
  • Transparency: Provides a clear and transparent process for both parties.
  • Trust: Enhances trust between the parties by ensuring obligations are fulfilled.
  • Compliance: Ensures that the transaction complies with all legal and contractual requirements.
How does the escrow process work in Kenya?2024-07-05T11:37:40+00:00

The escrow process typically involves the following steps:

  1. Agreement: The parties agree to use an escrow agent and outline the terms and conditions of the transaction.
  2. Deposit: The buyer deposits the agreed funds or assets into the escrow account.
  3. Verification: The escrow agent verifies that all conditions of the agreement are met.
  4. Release: Once all conditions are satisfied, the escrow agent releases the funds or assets to the seller, and the transaction is completed.
  5. Completion: The transaction is finalized, and the escrow agent closes the account.
What should I look for when choosing an escrow agent in Kenya?2024-07-05T11:38:28+00:00

When selecting an escrow agent, consider the following factors:

  • Reputation: Choose an agent with a strong reputation for reliability and trustworthiness.
  • Experience: Look for an agent with experience in handling transactions similar to yours.
  • Transparency: The agent should provide clear and transparent terms and fees.
  • Customer Service: Good communication and customer service are essential for a smooth transaction process.
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