Escrow Management
- Brokerage Engine |
- 35 steps |
- 2 minutes
Add Escrow Deposit
1
Click "Add Deposit"
2
Set the date escrow funds were received
3
Check number or tracking number
4
Select the contact who provide escrow funds.
Tip!
Can always use 'add new person' if escrow funds did not come from the buyer/seller on transaction
5
Enter the amount of the escrow deposit
Tip!
Escrow account should already be defaulted to your primary escrow account. Should only need changed if you have a secondary escrow accounts
Alert!
Do NOT select your commission or operating account. If keeping the funds the escrow money will automatically transfer to the operations/commissions account when you indicate you are keeping the escrow money
6
Select Escrow account for funds to be deposited into
7
Click "Save"
8
View deposit here. If needing to correct mistake the escrow deposit can be revoked.
9
Click "Close"
10
When holding escrow, but you have not yet indicated you are keeping escrow or paying it out, it will show as unbalanced.
Keep Escrow Deposit
11
Click "Toggle Dropdown"
12
Click "Keep Remaining Escrow"
Tip!
Kept escrow account should already be defaulted to your operating/commission account. Should only need to select another if needing to go to a secondary bank account
13
Select the operating/commission account you want the escrow deposit to transfer too
14
Select the date you want the escrow transfer to take place. This can be independent of the close date
