HOA Escrow Services Agreement
(Does Not Include Accounting)
This agreement (Agreement) is entered into by and between NationwideAccounting.net, a California Corporation. (Service Provider) ________________________________ and (Association) ________________________________ as of Association consists of units/lots.
Service Provider will provide escrow services as an independent contractor as the Agent of the Association in order 10 facilitate the sale or refinance of units/lots which are included as part of the Association.
Association shall provide Service Provider with the following by email:
- Completed Lenders Questionnaire (To be provided)
- Articles of Incorporation
- Operating Rules
- All Insurance Policies and Agents Contact Information
- Most recent Reserve Study
- Most recent Financial Statement
- Minutes for last 12 months (signed)
- Most recent Annual Disclosure Package and Budget
- Amount of any Transfer Fee
Association agrees to provide Service Provider with the following by email as updated or when new information or documents become available:
- Operating Rules
- Insurance Policies
- Reserve Study
- Annual Disclosure Package and Budget
- Minutes of Meetings (signed)
- Changes in any Transfer Fee
The fee for services provided shall be paid by the buyer or owner of the subject unit/lot and not by the Association. The fee shall be based on the services requested based upon a standard schedule of fees for all clients. For each escrow closed, Service Provider shall pay _____________, a fee equal to _______________ % of the amount collected.
It is the Association's responsibility to provide accurate information to Service Provider. Service Provider assumes no responsibility or liability for the accuracy of the information provided by the Association.
Association shall defend and hold harmless Service Provider, its agents, employees, directors and officers, if any, from and against any and all claims, liabilities, suits, losses, damages, and attorney's fees which result from Service Provider's performance. This is a material condition of this Agreement.
If Service Provider is required to spend time as a result of any legal action brought by any person against Association or Service Provider, concerning or arising out of this Agreement, Service Provider shall be entitled to be paid $250 per hour for all time spent and any actual costs incurred.
Items we will need to begin:
__ Operating Rules
__ Insurance Policies and Insurance Agent Contact Information
__ Latest Reserve study
__ Minutes of Meetings - Last 12 Months
__ Latest Year-End Disclosure, Including Budget
__ Completed Lender's Questionnaire (To be provided by us)
__ Amount of any Transfer Fee: $________________
All of the items above can be scanned to us. You do not need to mail paper copies. This is the entire agreement between the parties. Legal advice or services are not included.
Michael Chulak for
For the Association:
Print Name - Authorized officer
Signature - Authorized officer
Nationwide Accounting Services