OUR SERVICES
Residential & FSBO & Commercial Escrows
There are few if any opportunities that cross our desk that we can't manage!
Short Sales
Short Sales are not for the faint of heart!
1031 Tax-deferred Exchanges
Our clients are thankful that we provide the legwork to save them money!
Off Site Notary Service
Your clients can stay at home and wait for their signing.
Last Minute Closings
We make them happen more often than you may think.
What is Escrow?
Understanding the Escrow Process
An escrow is an arrangement in which a neutral third party (the LPO -Limited Practice Officer) assembles and processes the various components of a real estate transaction.. In this case, Angela will record the transaction, and ultimately disburse and distribute the funds according to all the parties instructions.
Opening an escrow is for your protection and convenience. The escrow officer serves both the buyer and the seller to insure that their written instructions are carried out in great and accurate detail. The LPO is also there to identify if there are any instructions that are not mutually consistent or cannot be performed. The LPO insures a number of critical issues:
1. Clears title and obtains title insurance.
2. Obtains payoffs and release documents for underlying loans on the property.
3. Receives funds from the buyer and/or lender.
4. Prorates insurance, taxes, rents, etc.
5. Prepares a final statement for each party so that an understanding of the
disbursement of the funds is clear.
6. At the end the LPO forwards the deed to the county for recording.
In summary, the LPO, a neutral third party acting on behalf of the buyer and seller, is the traffic cop of the transaction, insuring there are no accidents and that all financial and personal traffic flows smoothly and evenly until the end.
