Escrow Services

Our Escrow Process

We have extensive experience providing escrow services for all types of ecommerce and online business transactions. We have worked on hundreds of deals, honing our process to offer you a fast, safe and efficient escrow process. Our team of lawyers is dedicated to ensuring a smooth and secure experience for all parties involved in the transaction. We understand the importance of speed and reliability in the world of ecommerce, and we strive to deliver exceptional service every time. Trust us to handle your escrow needs with the highest level of professionalism and care.

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Introduction to all parties involved

Once all parties agree to use our escrow services, introduce us to everyone involved.

Provide Purchase Agreement

We request to be provided a copy of the purchase agreement, once the parties have agreed to a final draft or executed purchase agreement. This is what we use to determine the terms of the escrow agreement.

Prepare Escrow Agreement

Once we’ve received the purchase agreement to outline the terms of escrow release, we’ll prepare the escrow agreement and share it for the parties to review.

Execution of Escrow Agreement

Once the parties approve the escrow agreement, we circulate it for signatures. On the closing date, we wait for the parties to authorize the agreed release steps.

On Standby

We then remain on standby for the funding party (usually the buyer) to wire funds to our escrow account. Upon receipt of funds, we’ll confirm receipt to let all parties know that they can begin transfer of assets or interests. We then remain on standby until the parties authorize the release of escrow. We also ask for the wire instructions for the applicable parties and verbally verify the wire instructions during this time for security.

Escrow Release Instructions

Review the Escrow Release Instructions we circulate when the parties are ready to proceed with release. If your signature is required, sign the instructions confirming the payees and amounts to be disbursed.

Release of Funds

Provide the required signed Escrow Release Instructions. Complete wire-instruction verification before disbursement under the escrow agreement. Expect confirmation from us after funds have been sent.

Escrow Services FAQ

How much does escrow cost for an online business sale?

Escrow services starting at a flat fee of $1,000. Your flat fee depends on the transaction and scope. We confirm the fee before accepting the escrow engagement.

How are escrow funds held?

Funds received in connection with the legal representation are held in the firm’s attorney trust account and handled under the escrow agreement and applicable state trust-account rules. Funds are disbursed only when the agreed release conditions are met or the parties provide the authorization required by the escrow agreement.

How long does the escrow process take?

The timeline depends on the closing conditions, signed documents, transfer steps, and the parties’ instructions. The parties can often establish the escrow before closing and authorize release after the agreement’s closing conditions have been satisfied.

What happens if the transaction does not close?

The escrow agreement controls. Depending on its terms and the parties’ instructions, the escrow agent may return funds, disburse them as agreed, or continue holding disputed funds until the parties resolve the dispute or provide legally sufficient direction.

Considering seller financing as part of the closing? Model the seller note with our free seller financing calculator.

Attorney escrow for an online business closing

Learn how Ecommerce Law Group coordinates escrow funds with the purchase agreement and transfer steps.