Financier Gordeyko: the use of escrow accounts will protect buyers of private homes
The use of escrow accounts when buying housing in the sector of individual housing construction (IHS) will protect buyers from unscrupulous construction organizations, said the expert of the mortgage market Sergey Gordeiko on the air of the TV channel “Russia 24”.
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📝 Summary
The use of escrow accounts when buying housing in the sector of individual housing construction (IHS) will protect buyers from unscrupulous construction organizations, said the expert of the mortgage market Sergey Gordeiko on the air of the TV channel “Russia 24”.
From March 1, 2025, the use of escrow accounts will apply to all methods of settlements between contractors, developers and citizens in the field of IHS. “The money will remain in an escrow account until the ownership of the citizen is registered. First, escrow accounts are insured for 10 million rubles, this is an extremely important point. Secondly, in case of any problems with the contractor or developer, this money is returned, Gordeyko said. Thus, the money will be kept in a special bank account until the contractor successfully closes all obligations under the contract. Earlier, Russian Deputy Prime Minister Marat Khusnullin said that funds on escrow accounts guarantee the completion of the started facilities.
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