Warranty Escrow
Service Corporation
3150 Pio Pico Dr, Suite 101 Carlsbad, CA
92008
Tel (760) 434-1800 * Fax (760) 434-1805
[email protected]
TO:
NEW SELLER
RE:
YOUR BUSINESS SALE ESCROW
WELCOME TO WARRANTY ESCROW AND THANK YOU FOR ALLOWING US TO ASSIST YOU WITH THE SALE OF YOUR
NEW BUSINESS !
Before Escrow closes, it’ll be our job to make sure any legal requirements (1) and those outlined in your Purchase Agreement, have all
been addressed to everyone’s satisfaction. While this process can be a complicated one, with our experience and your cooperation, I know
we can look forward to a smooth and expeditious escrow closing.
ESCROW INSTRUCTIONS – Having Escrow Instructions signed by both parties is the First Step toward closing your transaction. In
order for them to be prepared, I need to get additional information from you and the Buyer. Escrow Instructions cannot be drawn until
Escrow has received ALL the following documents from both the Buyer and the Seller:
ITEMS YOU NEED TO SEND TO ESCROW:
1.
2.
Completed and Signed Buyer and Seller Info Sheets (blank forms attached);
For a Buyer and/or Seller that are an Entity:
a. If Buyer/Seller is a Corporation, I will need a copy of the filed Articles of Incorporation, the Bylaws, and the last Statement of
Information (SI-200) you filed that names the current corporate officers (lines 4 thru 16 are filled in; if there is an “X” in box on
line 3, then I will need form filed for the previous year);
b. If Buyer/Seller is a LLC, I will need a copy of the filed Articles of Organization, Operating Agreement, and the most recently filed
Statement of Information (LLC-12) naming current managers or members (lines 5 thru 14 are filled in; if there is an “X” in box on
line 4, then I will need form filed for the previous year); and
c. Please call me if you are another type of entity, are a foreign LLC or corporation, or have filed amendments and are uncertain what
other documentation might be required.
PLEASE FAX, EMAIL, OR HAND DELIVER TO ME ITEMS ABOVE ASAP. ONCE I RECEIVE THESE FROM BOTH
BUYER AND SELLER, I WILL PREPARE AND SEND OUT ESCROW INSTRUCTIONS FOR YOUR SIGNATURES.
And if at any time you have any questions, please don’t hesitate contacting me. I’m here to assist you! I can be reached by phone at 760434-1800 (ext 104) or email me at [email protected].
I look forward to being of service to you!
Sincerely,
Debbie Hanson
Sr. Escrow Officer and Manager
(1)
California Commercial Code, Division 6. Bulk Sales
Warranty Escrow SERVICE CORPORATION
3150 Pio Pico Dr, Suite 101, Carlsbad, CA 92008
Phone: 760-434-1800 / Fax: 760-434-1805
SELLER INFO SHEET
COMPLETE IN FULL. If none state “None”, SIGN & RETURN
In order to expedite your transaction & comply with the Bulk Transfer laws, we are requesting that you complete this confidential form ASAP
I am the Seller of the business known as: ________________________________________________________
Address where business is located:______________________________________________________________
Year business began operations:________________Years at current location:___________________________
Other business names or addresses used in last three years:__________________________________________
Escrow to process the Abandonment of Fictitious Business Name Statement? (Circle one)
Yes
No
SELLER CONTACT PERSON:_______________________________________________________________
PRIMARY PHONE #:________________________ SECONDARY PHONE #:_________________________
FAX:______________________________________ EMAIL:________________________________________
SELLER IS A: (Circle one) Corporation Individual/Sole Proprietor LLC Partnership Husband/Wife
IF CORPORATION OR LLC - Exact name of Seller (must match Secretary of State’s records):
__________________________________________________________________________________________
Complete Address:__________________________________________________________________________
Auth Signer (name and title):__________________________________________________________________
Auth Signer (name and title):__________________________________________________________________
State formed in: _____________________________Tax Identification No. (TIN): _______________________
I have attached copies of the following documents required by Escrow: (Circle response)
Articles of Incorporation/Organization: Yes No Most recent Statement of Information: Yes No
IF INDIVIDUAL(S):
Seller name::_________________________________
Soc Sec #:___________________________________
Address: ____________________________________
City/State/Zip: _______________________________
If married, name of Spouse:_____________________
If different than above:
Phone: (
) ______________________________
Fax: (
) _______________________________
E-mail: _____________________________________
Seller name:_________________________________
Soc Sec #:___________________________________
Address: ____________________________________
City/State/Zip: _______________________________
If married, name of Spouse:_____________________
If different than above:
Phone: (
) _______________________________
Fax: (
) _______________________________
E-mail: _____________________________________
LEASED PREMISES – (Complete this section if Buyer will continue operating business at current location):
Landlord/Property Manager Name: _____________________________________________________________
Address: __________________________________________________________________________________
Phone: (
) ________________________________ Fax: (
) __________________________________
Employer Development Department #:_____________ State Board of Equal–Re-sale Permit #: _____________
ABC/Liquor License to transfer to Buyer: (Circle one) Yes No
This is a franchise: Yes No
Loans, leases, judgments, or other debts to be paid off at closing:
1. Name: ________________________ Phone: (
) _______________ Acct No: _____________________
2. Name: ________________________ Phone: (
) _______________ Acct No: _____________________
The undersigned Seller(s) warrant and certify the above to be true and correct:
__________________________________________
______________________________________________
Date: ________________
Date: __________________
THE BULK SALE ESCROW PROCESS
Warranty Escrow SERVICE CORPORATION
3150 Pio Pico Dr, Suite 101, Carlsbad,
CA 92008 Telephone: 760-434-1800
Debbie Hanson, Escrow Officer