1801 Manhattan Avenue
Union City, NJ 07087
Phone: (201) 866-6500
Fax: (201) 430-4844

 


BANK DEPOSIT/TRANSFER INSTRUCTIONS

(Note: you can print or forward the relevant below-linked .pdf page to your customer
so there's no confusion as to how deposits are to be made)

 

SPECIAL HOLDING DEPOSITS (= Commission money received - NO personal checks)


GENERAL BUSINESS DEPOSITS (= HVR money/agent expenses owed)

 

ESCROW DEPOSITS (= Client's money to hold - NO personal checks)

 

HVR Special Holding Account

 

This is for commission money owed to Hudson View Realty and its agents.  This is where checks are deposited and held while your paperwork is being reviewed.  Once paperwork is complete and approved, your commission will be drawn and paid from this account. These deposits must be either bank checks or wire deposits.  (Note, money orders cannot be deposited remotely and must be deposited personally at a Bank of America branch.)

 

HVR General Business Account

 

This is for money owed to the Hudson View Realty Brokerage for operating expenses, for example credit check fees, listing fees, licensing fees, management fees and other broker operating income or reimbursements to the company.

 

HVR Escrow Account

 

This is for “other people’s’ money,” meaning it does not belong to HVR and cannot be spent until some contractual agreement dictates when and to whom it is disbursed.  This type of account is highly regulated and requires meticulous transaction record-keeping.  For that reason, we try to avoid holding escrow funds unless absolutely necessary.  Escrow deposits must be either bank checks or wire deposits.  If absolutely necessary, we can accept cash or money orders, which must be deposited personally at a Bank of America branch.).