How much are the escrow fees and when are they due?
The escrow fee is $800.00. The escrow fee specified is a preferred rate for escrow transactions resulting from successful auctions of alcoholic beverage licenses on the website. The escrow fee is due at the open of the escrow, if not paid at the open of the escrow, the seller has the right to re-list the alcoholic beverage license back on Liquor License Auctioneers' website.
We ask for an original escrow fee depoist of $1,000.00., this will cover any extra incidental costs, such as the "county recording fee" as well as any "over-night carrier" fee. In the event that you do not use all of the escrow deposit, it will be refunded to you at the close of escrow.
As you can imagine, we have a very strict policy on when deposits and fees are due when using our auction website. When you agreed to the Terms of Use of the auction, you understood that if you won an alcoholic beverage license through the auction website, you must pay the escrow fee along with the opening depoist within 24 hours of winning the auction. No exceptions!
