1601 NW Expressway, Ste. 100
Oklahoma City, OK, 73118 USA
Phone: 405-286-5700
All of our transactions at RRH are handled through an escrow account at Valliance Bank in Oklahoma City. Valliance has banking locations in Oklahoma and Texas. Valliance Bank was established in Oklahoma City in 2004 as a financial partner to business owners and executives interested in customized solutions to their banking needs.
Escrow accounts can help to facilitate almost any kind of transaction, including oil and gas mineral rights transactions. By involving a third party to hold funds for safekeeping, buyers and sellers can feel confident about doing business. For example, mineral owners are sometimes reluctant to negotiate a sale or lease of their mineral rights when they don’t know the person or company on the other end of the deal.
Our Closing Process:
Prior to closing, the Buyer wires to the escrow account at Valliance Bank, the purchase price of the minerals, or lease bonus amount on a lease trade, PLUS the Buyers Commission amount and $100 bank fee.
Once the Buyer has issued a "clear to close" and wired its closing funds to the bank, and the closing documents have been received by the bank (or otherwise accounted for), then the bank disburses to the Seller, either via bank wire or check (Sellers choice) the amount due, less the Sellers commission amount and $100 bank fee.
FOR BUYERS - BANK WIRE INFO WHEN WIRING MONEY FOR CLOSING
1601 NW Expressway, Ste. 100
Oklahoma City, OK, 73118 USA
Phone: 405-286-5700
Beneficiary name: Valliance Bank Escrow Agent
Escrow account number: 107065989
Bank name: Valliance Bank
Routing number: 103013017
FBO: OK Minerals LLC