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Escrow Account
An Escrow account is a trust account which assists with sale/purchase transactions (real estate, cars, and any other property), by reducing the risk between the involved parties to the minimum. The buyer, the seller and Rietumu Bank sign an agreement in which they mutually agree on the documents necessary and the terms and conditions of a deal to be carried out. The buyer obtains the right to own a property (a good) when the agreed amount has been transferred to the escrow account in the bank; the seller in turn receives the money after fulfilling his obligations specified in the agreement. Fees: Escrow Account| Escrow account maintenance |
| | Opening & Maintenance of escrow account (if the deal is financed by JSC "Rietumu Banka") |
| | Composing, forming and maintenance (standard agreement -- sale/purchase of unimpaired property in Latvia) |
0.2 %, min 150 LVL |
| | Change of the escrow account agreement terms (standard agreement -- sale/purchase of property in Latvia) |
50 LVL |
| | Non-standard agreement |
to be agreed, min 500 LVL |
| | Change of the non-standard escrow account agreement terms |
to be agreed, min 100 LVL |
| | Opening & Maintenance of escrow account (without bank financing) |
| | Standard agreement (sale/purchase of unimpaired property in Latvia) |
0.3 %, min 150 LVL |
| | Change of the agreement terms |
50 LVL |
| | Non-standard agreement |
to be agreed, min 500 LVL |
| | Change of the non-standard agreement terms |
to be agreed, min 100 LVL |
| Escrow account maintenance |
| | Opening & Maintenance of escrow account (if the deal is financed by JSC "Rietumu Banka") |
| | Composing, forming and maintenance (standard agreement -- sale/purchase of unimpaired property in Latvia) |
0.2 %, min 200 EUR |
| | Change of the escrow account agreement terms (standard agreement -- sale/purchase of property in Latvia) |
75 EUR |
| | Non-standard agreement |
to be agreed, min 1000 EUR |
| | Change of the non-standard escrow account agreement terms |
to be agreed, min 500 EUR |
| | Opening & Maintenance of escrow account (without bank financing) |
| | Standard agreement (sale/purchase of unimpaired property in Latvia) |
0.3 %, min 200 EUR |
| | Change of the agreement terms |
75 EUR |
| | Non-standard agreement |
to be agreed, min 1000 EUR |
| | Change of the non-standard agreement terms |
to be agreed, min 500 EUR |
| Escrow account maintenance |
| | Opening & Maintenance of escrow account (if the deal is financed by JSC "Rietumu Banka") |
| | Composing, forming and maintenance (standard agreement -- sale/purchase of unimpaired property in Latvia) |
0.2 %, min 150 LVL |
| | Change of the escrow account agreement terms (standard agreement -- sale/purchase of property in Latvia) |
50 LVL |
| | Non-standard agreement |
to be agreed, min 500 LVL |
| | Change of the non-standard escrow account agreement terms |
to be agreed, min 100 LVL |
| | Opening & Maintenance of escrow account (without bank financing) |
| | Standard agreement (sale/purchase of unimpaired property in Latvia) |
0.3 %, min 150 LVL |
| | Change of the agreement terms |
50 LVL |
| | Non-standard agreement |
to be agreed, min 500 LVL |
| | Change of the non-standard agreement terms |
to be agreed, min 100 LVL |
| Escrow account maintenance |
| | Opening & Maintenance of escrow account (if the deal is financed by JSC "Rietumu Banka") |
| | Composing, forming and maintenance (standard agreement -- sale/purchase of unimpaired property in Latvia) |
0.2 %, min 200 EUR |
| | Change of the escrow account agreement terms (standard agreement -- sale/purchase of property in Latvia) |
75 EUR |
| | Non-standard agreement |
to be agreed, min 1000 EUR |
| | Change of the non-standard escrow account agreement terms |
to be agreed, min 500 EUR |
| | Opening & Maintenance of escrow account (without bank financing) |
| | Standard agreement (sale/purchase of unimpaired property in Latvia) |
0.3 %, min 200 EUR |
| | Change of the agreement terms |
75 EUR |
| | Non-standard agreement |
to be agreed, min 1000 EUR |
| | Change of the non-standard agreement terms |
to be agreed, min 500 EUR |
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