Generally speaking, an escrowholdback, or simply a holdback, is a portion of the purchase price that is not paid to the seller at closing. Instead, it is usually delivered to an ...
As a provider of escrow services, Accruit is experienced in facilitating all types and levels of transactions. Whether simple or complex, it’s important to understand some of the terminology used. Two terms common to the sale and purchase of real estate are “earnest money” and “down payment.” In this blog post, I will review the definitions of each of these terms and how they are used in the context of real estate and escrow.
What is Earnest Money?
According to Merriam-Webster, earnest money has various definitions, including:
a serious and intent mental state
something of value given by a buyer to a seller to bind a bargain
In this PYMNTS.com article, Accruit CEO, Brent Abrahm, and TruckTractorTrailer CEO, John Gillie discuss how digital escrow services facilitate online transactions of big ticket items. Article excerpted below.
Big-name eTailers like Amazon, eBay and Walmart have made it easier than ever to buy just about anything online. When it comes to shopping for big-ticket items like pre-used or new commercial vehicles, though, the online shopping process is anything but simple.
In fact, it is frequently rife with friction. For sellers, the process might entail anxiously waiting to receive payments. Buyers, meanwhile, worry about handing over a large sum of money to a seller they’ve never met, hoping to have the vehicle safely delivered in the expected condition.
“We’re not talking about your Amazon transactions or small eBay transactions,” said Brent Abrahm, CEO ofdigital financial services provider Accruit.
When expensive items are sold online, both parties are looking for assurances that they will walk away from the transaction unscathed. Providing
Accruit joins participants from all segments of the oil and gas supply chain industry to discuss the role of escrow in the recovery of surplus and idle assets at the 2018 Energy Insight Conference.
In Crowdfunding Part I, we covered the basics of crowdfunding, including the definitions of common types of crowdfunding, including equity, debt, donation and reward crowdfunding structures. In this installment, we’ll explore some additional regulatory detail, focusing on equity crowdfunding and Title III of the Jumpstart Our Business Startups Act (JOBS Act) and Regulation Crowdfunding.
A Quick Review: Equity Crowdfunding
First, let’s reexamine a few important points. Remember, compared with some of the other types of crowdfunding initiatives, equity structures:
Attract larger investment minimums.
Enable investors to acquire securitized ownership in the corporate entity.
As a form of crowdsourcing and alternative finance, crowdfunding is implemented to encourage crowds through online collaboration to efficiently invest in projects that interest them. It functions in several different ways, with multiple factors influencing the process. In the first entry of this series on crowdfunding, we’ll explore the basics of such fundraising efforts as well as the variety of crowdfunding methods available.
What is crowdfunding?
The process of crowdfunding involves raising capital through non-traditional efforts. It is a collaborative method that relies on the contributions of investors, current and future customers, and the general public. Web-based platforms and the internet are tools commonly used in all varieties of crowdfunding, as opposed to traditional and cumbersome methods such as approaching lenders and investors in-person. The process of crowdfunding enables not only for wider audience reach and quicker...
Accruit, LLC, a financial technology company specializing in escrow and 1031 exchange services, today announced that they have signed an agreement to acquire the assets of PaySAFE Escrow, Inc. including its PaySAFE® web-based escrow technology (www.PaySAFEescrow.com) that allows buyers and sellers the ability to complete online purchases with financial protection and proper...
Accruit has entered into an agreement with Evergreen Note Servicing, an independent loan servicing company in Puyallup, Washington, to collaboratively manage loan and contract servicing escrow business.
Accruit’s entrée into loan servicing came about via their prior acquisition of a full service escrow company. With the exception of loan servicing, Accruit has consolidated and continues to evolve its escrow offerings.
"Identifying the right buyer for this line of business allows Accruit to focus on other areas of our expanding FinTech services," said Accruit CEO Brent Abrahm. "Evergreen's excellent reputation in secure and efficient management of payments make them an ideal firm for administering our portfolio."
"We are excited to partner with Accruit’s experienced team to...
Escrow is an arrangement in which transacting parties retain a third party, an escrow agent or escrowee, whose job is to safeguard funds and assets according to conditions that have been agreed upon in advance. Such an arrangement protects the transacting parties in the deal, providing that neither has an unfair advantage and that both are earnest about the deal.
A private placement memorandum (PPM) or offering memorandum (OM) is the document used in a private offering of securities to a small number of uniquely qualified investors. Also known as an offering circular (OC), a PPM is typically used by a company to raise capital and avoid using debt or a traditional public offering.
