Vehicle escrow question
Sep 12th 2016, 8:48 pm
#1
Just Joined
Thread Starter
Joined: Mar 2014
Posts: 5
Vehicle escrow question
Hi everyone
Our lawyer is currently putting together our E2 application (using all the information we have provided to them).
As you may be familiar USCIS want E2 visa applicants to show that their money is at risk and one of the main ways to do this seems to be to put money into escrow.
About two months ago we started the process of drafting a contract (along with a few other contracts for "general merchandise" from other sellers) to buy a vehicle from a Ford dealer based in Orlando but long story short after 6 weeks the sales person we were dealing with "left" and it turns out we were strung along - the dealership don't use escrow agreements.
So my question is this:
How much weighting does USCIS put on having funds at risk in an escrow (frankly it would be so much easier and much less bother to just to walk into a dealership with cash) and does anyone know a dealership in southern florida who accepts escrow?
thanks and have a good day!
M
Our lawyer is currently putting together our E2 application (using all the information we have provided to them).
As you may be familiar USCIS want E2 visa applicants to show that their money is at risk and one of the main ways to do this seems to be to put money into escrow.
About two months ago we started the process of drafting a contract (along with a few other contracts for "general merchandise" from other sellers) to buy a vehicle from a Ford dealer based in Orlando but long story short after 6 weeks the sales person we were dealing with "left" and it turns out we were strung along - the dealership don't use escrow agreements.
So my question is this:
How much weighting does USCIS put on having funds at risk in an escrow (frankly it would be so much easier and much less bother to just to walk into a dealership with cash) and does anyone know a dealership in southern florida who accepts escrow?
thanks and have a good day!
M
Sep 12th 2016, 9:02 pm
#2
BE Forum Addict
Joined: Sep 2011
Posts: 2,903
Re: Vehicle escrow question
Are you looking for Southern Florida or are you looking for Orlando?
Sep 12th 2016, 9:19 pm
#3
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,448
Re: Vehicle escrow question
I think you are confused. Escrow accounts are used for buying real estate or, as is specifically relevant to an E-2 visa, high value transactions such as buying a business where the sale contract has contingencies, such as the issuance of a visa to the would-be buyer.
No car dealer is going to park a car in the corner of their forecourt waiting to see if money in an escrow account is released several months later.
No car dealer is going to park a car in the corner of their forecourt waiting to see if money in an escrow account is released several months later.
Sep 12th 2016, 9:24 pm
#4
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,170
Re: Vehicle escrow question
Yeah, I'm with Pulaski. No dealer is going to bother. Just turn up and drop some cash or a car loan to build up credit history.
USCIS just want to see you bury a lot of money into a business and have funds to cover your personal set up costs, they don't care if it's in escrow for that or not as long as it's liquid.
USCIS just want to see you bury a lot of money into a business and have funds to cover your personal set up costs, they don't care if it's in escrow for that or not as long as it's liquid.
