Frequently Asked Questions
- Why should I use an escrow company for business or bulk sale transaction?
- Protection. There are many concerns that can become a factor for both parties if the transaction is not properly documented and specific searches completed. Such factors can include undisclosed outstanding liens or security interests in the assets to be conveyed, sales tax or potential audit liability, licensing concerns, promissory notes for any "carry back" sums, federal tax concerns, and other such factors which can ultimately cost either party hundreds if not thousands (even tens of thousands!) of dollars. In addition, these loses may not be recoverable, or may cost thousands of dollars to recover. Let's face it! You wouldn't purchase a home or any other type of "real property" without using a third party such as an escrow company. Therefore, why ever risk losses on a business transaction which often encompasses sums much greater than those of a home purchase? Protect your investment! Contact AEC Today!
- How much are the services you offer?
- Nominal when compared to alternatives. Our escrow fees are highly competitive and include all the basic documentation for each transaction. We do not charge for each document prepared, unlike many escrow firms. Our fees are inclusive of the basic documentation including but not limited to Complete Escrow Instructions, Bill of Sale, Equipment List, Promissory Note, Security Agreement, Lease Assignment, Purchase Price Allocation, and various other documents normally associated with the average business or bulk sale transaction. Our fees are usually split by the Buyer and Seller, or as may be agreed upon between the parties involved and in accordance with the Purchase Agreement. Should additional documentation be required we can provide it at a nominal fee. However, it's rare that such an occurrence arises, due to the many documents we provide at no additional cost.
- I want to purchase my boss's company and we have no broker involved. Can you handle this type of transaction?
- Absolutely. Accelerated Escrow Company effectuates many transactions each month that do not involve any Business or Real Estate Broker. We work with for sale by owner type transactions on a regular basis. We can adapt your documentation to your transaction, whether it's an Asset or Stock Transaction.
- I am purchasing a Tavern which requires special licensing and will take from a few months to a year to obtain. I need to open Escrow to assure the Seller I am serious, but hate to lose interest on my money. Can I get interest on my earnest money deposit?
- Yes you can!. When we are engaged to transactions for large sums and/or transactions that will take several months, the earnest money deposit is placed into an interest bearing account specifically for your transaction. Your money will earn interest during the entire escrow process!
- I am working on acquiring a business and have preliminary approval for a Commercial SBA Loan, do you work with transactions involving Lenders?
- All the time. In fact there are many lenders both local and nationwide who prefer to refer Accelerated Escrow Company for their clients who are acquiring businesses in Nevada. We will work closely with your Lender to obtain all required documentation to satisfy the Lender Instructions.
- I am planning to purchase a business in Nevada but I am not yet a resident. I would like the transaction to be completed before I move. Do I have to travel to Nevada to complete the transaction?
- No you do not. We can process all documentation and handle the complete transaction without you having to make numerous trips to Nevada. We will draft all necessary paperwork and forward it to the appropriate parties for execution, allowing for a seamless transaction.
- As a Business Broker I want to make sure my clients and their deposits are protected in an escrow transaction. Is their deposit safe?
- Most definitely. All deposits are placed in and distributed from our Escrow Trust Accounts, and are regulated by the State of Nevada.
- Do you handle Business Sales and Acquisitions all over the United States?
- Not yet, but we continue to grow. Presently we only handle transactions throughout the entire State of Nevada. We currently work with Lenders, Brokers and "For Sale by Owners" all over Nevada. So if your transaction is occurring in Nevada, we can process it for you!
- I'm convinced I should use an Escrow Company, but why AEC?
- That's easy! Because we deal exclusively with business, stock, acquisition and disbursement escrows. Accelerated Escrow Company exclusively processes business and bulk sales, business acquisition, stock sale transactions, collection and disbursement, paymaster and other "monetary trust" transactions. That's all we do! We do not process any real property transactions. Therefore, your transaction is a priority and is given the attention it deserves. We are not interrupted with multiple transactions from developers, mortgage companies, residential clients, and speculators. In the event a real property transaction is in association with the business transaction at hand, we will coordinate with the "preferred" Title Company who will process the "real property" portion of the transaction. Our expertise is focused on a specific facet in the escrow arena, assuring that your transaction will receive the best possible service and attention.