"An escrow account is a place where a third party holds money until all the details of a transaction are complete. An escrow account protects the seller from getting cheated out of full compensation for a business because the money is not transferred until all conditions of the sale are met. The buyer receives similar protection from fraud or an incomplete transfer of ownership."
Read more at:
The Escrow Process When Selling Your Business | Chron.com:
For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.
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