Neubauer777
2014-09-29 13:15:42
- #1
We are in the fortunate position to be able to finance the new house in cash through the sale of our old house.
The prefab house company now demands that, for financing security, we deposit the money into a special account that meets the following requirements:
- Money can be withdrawn by the construction company with my consent (according to construction progress)
- The money is basically pledged to the construction company, so I cannot withdraw it without further ado (as security, understandably).
Does anyone have experience with and/or tips on this procedure?
Specifically, what type of account is best suited?
Of course, we would prefer to deposit the money in a suitable online overnight money account, which usually does not meet the conditions.
Accounts at local banks/savings banks, on the other hand, offer only a minimal interest rate, if any at all, and may even charge fees.
These are already differences of several thousand euros over the entire term.
I am grateful for any tips...
The prefab house company now demands that, for financing security, we deposit the money into a special account that meets the following requirements:
- Money can be withdrawn by the construction company with my consent (according to construction progress)
- The money is basically pledged to the construction company, so I cannot withdraw it without further ado (as security, understandably).
Does anyone have experience with and/or tips on this procedure?
Specifically, what type of account is best suited?
Of course, we would prefer to deposit the money in a suitable online overnight money account, which usually does not meet the conditions.
Accounts at local banks/savings banks, on the other hand, offer only a minimal interest rate, if any at all, and may even charge fees.
These are already differences of several thousand euros over the entire term.
I am grateful for any tips...