The seller formally accepts and carries out the proposal to purchase the property, referred to as the “Offer to Acquire” or simply “Offer.” The buyer enters into a legally binding agreement with a neutral third party, known as the “Escrow Agent” and the “Escrow Company”, to ensure that the funds and documents related to the property purchase are securely held until all necessary conditions are met. Additionally, as per the Money Laundering Law, the buyer is required to provide copies of identification documents such as their US passport and driver’s license and fill out forms for Know Your Customer (KYC) and Privacy notices.
