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california: Designating The Escrow Holder - 08/26/08 04:06 PM
Because the selection of an Escrow Holder is not usually critical to either principal in a transaction, real estate brokers have in the past played a large role in deciding where a transaction would be escrowed. In recent years, however, there has been an increasing effort on the part of federal and state regulators to minimize the influence of the broker in selection of the escrow holder. The rationale is that buyers and sellers have the right and should have the opportunity, to CHOOSE and compare escrow services and charges, if they so desire to negotiate between themselves as to where escrow … (4 comments)
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california: Short Sales Are Back - 08/20/07 07:59 PM
What is a Short Sale?
A Short payoff sale is generally defined by loan loss mitigation professionals, as:
A sale in which a lender allows the property securing a mortgage or deed of trust loan to be sold for less than the existing loan balance, due to factors such as the Borrower's financial circumstances, the property's physical condition, and local real estate market conditions.
Most lenders will only approve a short sale as a last resort:
The property was purchased or refinanced at the top of a seller's market at an over-inflated price and has had a substantial drop in value.The property is located in an … (10 comments)
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california: What is an Escrow Officer? - 07/11/07 03:43 PM
I am always surprised to hear "What is an Escrow Officer?". I can't believe I still get asked that question. But I know there are still some out there that have No Idea what an Escrow Officer is nor what an Escrow Officer does.
Escrow officers facilitate the sale or refinancing of a property by receiving, holding, and transferring funds, deeds, and other legal papers in accordance with agreements made between buyers and sellers or the lender's instructions.
Escrow Officers or Settlement Agents are the head of a real estate transaction. We process most of the paperwork involved in a refinance or sale transaction. We coordinate … (13 comments)
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california: Property Disclosure Report - 07/11/07 12:10 AM
I am often asked if it is necessary to obtain and deliver property disclosure reports to a buyer, although the property is being sold "AS IS".
Well, California has several laws regarding natural hazard, property tax and environmental disclosures during a real estate transaction.
In general, there are two types of disclosures:
1. Actual Knowledge
You are required to disclose "actual knowledge" if you know of issues that affect the value or desirability of your property. Possible examples are drainage problems or an old heating oil tank on your property or the stone quarry 5 miles down the road whose trucks rumble by at 6:00am every weekday morning. … (6 comments)
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california: It is NOT my job... - 07/07/07 08:32 PM
As an Escrow Officer, I run into daily requests for things that are NOT within my job description.
I already have a lot to do as an Escrow Holder. But over the years, in order to obtain more business from real estate agents and brokers, Escrow Officers have been taking on more and more responsibilities that are not within their duties. As a result, MOST not ALL, Real Estate Agents and/or Brokers have stopped doing their job and are getting lazier and lazier each day. Mind you, Real Estate Agents get paid at an average 3% to 6% commission off of the … (18 comments)
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california: Que es Escrow? - 06/11/07 06:40 PM
Un Escrow es un arreglo por el cual alguna tercera persona desinteresada, llamada el poseedor del "Escrow" o "Escrow Officer", retiene documentos legales y también los fondos en favor de un comprador y un vendedor y los distribuye de acuerdo con las instrucciones del comprador y vendedor.
Ambos participantes dependen sobre el "Escrow" para que se llevan acabo fielmente sus mutuas y consistentes instrucciones relativo ala transacción y para aconsejarles si algunas de sus instrucciones no están mutualmente consistente o si no pueden realizarse.
Un "Escrow" es conveniente para el comprador tanto como para el vendedor. De esta manera los dos pueden moverse hacia adelante … (21 comments)
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california: Bar Celona, Pasadena, CA. - 05/24/07 04:36 PM
A modern Spanish Tapas Bar, Restaurant and late-night Lounge in the historic Colorado Boulevard retail district of Old Pasadena.
A lively, casual and eclectic sophisticated atmosphere featuring live music, flamenco dancing and late-night DJ's with soaring contemporary, architectural design.
The food is great. So when you're in Old Pasadena, visit Bar Celona, located at 46. E Colorado Blvd, Pasadena CA 91105 - (626) 405-1000.
My suggestions:
S I G N A T U R E P A E L L A S - Paella Bar CelonaSignature Paella for two people with Green lip mussels, manilla clams, calamari, shrimp, scallops Spanish chorizo, pork, roast chicken, and Alaskan … (2 comments)
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california: What is the fee for the escrow service? - 05/05/07 02:04 AM
What is the fee for the escrow service?
Many believe the escrow fees are set by law. Escrow fees are NOT GENERALLY regulated by law or by SOME state statues. But Check your States Statue for regulation on Escrow Fees. Escrow Fees are set by each escrow company or escrow officer.
Although many individuals complain about the escrow and closing costs involved in the property transaction, it is a required step that is necessary to protect both sides during what is an expensive business arrangement. Escrow and closing costs can make up a component of 3% to 6% of the total purchasing costs. However, … (9 comments)
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california: I still have questions about the transaction, where can I go for answers? - 05/04/07 02:05 AM
If negotiations have been conducted through a real estate agent, that person, or his/her broker, should be your primary consultant.
The role as an independent agent prohibits the escrow officer from answering many of your questions. However, a knowledgeable escrow officer, whose responsibility is giving impartial service to all the parties, will refer you to the proper source for your answers. An escrow officer will often suggest that the customer seek the advice of legal counsel or a tax consultant.
Your REALTOR will answer questions about your purchase contract agreement. Your loan officer will answer all questions about your loan status, the conditions … (4 comments)
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california: What types of transactions go through escrow? - 05/04/07 01:49 AM
Most contracts that involve the transfer, lease or financing of real or personal property can be placed in escrow. You may be involved in escrow not only when you buy or sell a home, but also when you buy a mobile home, sell a business or transfer stock in a closely held business. The buyer or seller should demand the protection of escrow for any transaction which involves a substantial investment.
These are some of the escrow transactions that are heard of:
Residential - Commercial - Bulk (Business) Sale - Mobile Home
Refinance - Holding Funds - Personal Property - Foreclosures
Construction - Trust Deeds - … (2 comments)
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california: The Escrow Instructions are ready, now what? - 05/04/07 01:32 AM
The Escrow Instructions are ready, now what?
When the escrow officer receives the purchase agreement or instructions to open escrow, she or he will type the escrow instructions based on that agreement. The escrow instructions have been prepared, read them carefully to determine that they are complete and properly reflect your total agreement. If you have any questions or corrections, discuss them with the escrow holder before signing. Once the escrow instructions have been signed, they become the basis for the conduct of the escrow.
Contact your Escrow Officer with any questions you may have that pertain to their escrow instructions.
… (5 comments)
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california: Lucilles BBQ, California - 04/27/07 12:30 PM
Lucille's BBQ is smokin' mmm....good.
Another great place that I recommend when you're in town. Visit Lucilles BBQ sometime.
I've been to the Long Beach and Torrance locations. Loved it!
My Favorites....
LUCILLE'S BBQ COMBO PLATTER: Your choice of any two meats: BBQ tri tip, BBQ half chicken, baby back ribs, St. Louis ribs, beef ribs, smoked ham, spicy hot link, rib tips or pulled pork with Lucille's Memphis sauce.
BLACKENED CHICKEN PASTA: Two pan blackened breasts of chicken on a bed of fettuccini noodles tossed with a spicy Creole cream sauce, red and yellow peppers, carrots and onions.
My ultimate favorite side is their Homemade Biscuits with … (9 comments)
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california: Shula's 347, Los Angeles, CA. - 04/17/07 05:55 PM
The atmosphere is casual and full of energy, which includes a high impact bar, dark woods and a stunning video system. Granite topped tables and dark leather booths offer a different appeal and destination for the local market, and the bar becomes a place of socializing with wine and martinis. For private dining, there is great variety and flexibility with the menu items.
Visit Shula's 347 - Los Angeles
6101 West Century Blvd. Los Angeles, CA 90045
(310) 642-1111
… (1 comments)
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california: Bubba Gump Shrimp, California - 04/13/07 06:24 PM
Another one of my favorites.
I'v been to the Santa Monica and Long Beach Locations. Both great places!
Try the: Shrimper's Net Catch - Shrimp steamed in beer to tender perfection and served with your choice of our aromatic Bubba's garlic spice or secret recipe cajun spice.
With a Jenny's Favorite - Strawberries, cranberry juice, and raspberry non-fat yogurt made this Jenny's favorite.
And for dessert: Bread Pudding No one made it like Mama, because no one had her special whiskey butter sauce recipe! Absolutely, positively the best bread pudding you've ever tasted.
Visit Bubba Gump Shrimp here in Sunny California.
Have a Bubba Gump Day!!
… (5 comments)
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california: Will the Escrow Officer review the Loan Documents with my client? - 04/12/07 01:30 AM
When your client sits down for a loan signing, whether it's with a title company, an escrow office, an attorney's office, or any other location, they will be asked to sign a number of documents. Among these documents will be loan papers, if they are taking out a loan, which the lender submits to the escrow holder or closing agent. Several of these documents are being viewed for the first time. Can an escrow officer review these documents with your client? Yes.
The escrow officer can review the documents with your client, but an Escrow Officer is limited to answering questions … (2 comments)
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california: Does The Right Closing Date Make a Difference? - 04/12/07 12:25 AM
I am often asked if the Closing Date makes a difference. My answer is YES!!
When both Buyer & Seller sign a Purchase Agreement, it is binding. The provisions in the contract will spell out the events in which must take place before the close of escrow. Within that Agreement will be the provisions for the scheduled "Close of Escrow". A date is normally filled in when the offer is presented. Once the offer is presented, the Seller may choose to change the date before accepting. Both the Buyer and Seller should come up with a closing date that seems reasonable.
The … (3 comments)
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california: Smitty's Grill in Pasadena, CA. - 04/11/07 04:51 PM
If you want to go to a place that is Friendly and Celebrates the All-American comfort cuisine of our past, than Smitty's is for you. The menu is full of great old fashioned favorites.
Mine is the Grilled Rack of Lamb with Mashed Potatoes and Fresh Seasonal Veggies.
I love this place! Especially at night for a great romantic dinner or just a casual lunch on their patio.
Visit Smitty's sometime.
110 South Lake Avenue, Pasadena, CA 91101 - Phone (626) 792 - 9999
… (2 comments)
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california: Getting Started in Escrow/Settlement - 04/05/07 02:39 PM
How can someone enter into escrow or real estate settlement profession. Would they be suited to the job or would they like the business? Young professionals, stay-at-home moms, even seasoned account executives all ask the questions:
What requirements are needed to enter into the escrow profession? What does the job entail? How do I know if escrow is suited to my interest and abilities? How do I get started and where do I go for information? A common problem that prospective escrow employees find is that when applying to a title, escrow or closing company for employment, they are told that without experience in … (9 comments)
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california: Milano's of Glendale, California - 04/03/07 05:20 PM
I thought I would share with you, One of my favorite Italian Restaurants in Glendale, CA.
If you're ever in that area and want to have great Italian food, drop by for lunch or dinner. The food is delicious!!
Yum...My favorites: The Herbed Grilled Chicken, Scaloppine and the Salmon. But everything is sooo good there.
Let me know if you thought this was a good recommendation.
Milano's-525 N. Brand Blvd.,Glendale, CA. 91203 (818) 244-1150.
Bon appetit!
… (3 comments)
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california: Important Notice Re: Prop. taxes while in escrow - 04/02/07 02:31 PM
IMPORTANT NOTICE REGARDING PROPERTY TAXES WHILE IN ESCROW
While your property is in escrow, PLEASE DO NOT PAY ANY OF YOUR REAL PROPERTY TAXES WITHOUT FIRST CONTACTING YOUR ESCROW OFFICER. If the title company cannot verify that your taxes are paid, it will be necessary to hold the amount of the installment due PLUS penalty until the title company can verify that the County Tax Collector has received your full payment. Funds will be held up to 30 days after the close of escrow at which time the title company will forward said funds to pay taxes and penalties. This may result … (2 comments)
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Luisa Orellana, Escrow Officer, Granite Escrow
Los Angeles,
CA
More about me…
Granite Escrow
Address: 439 N. Canon Drive, Suite 220, Beverly Hills, CA, 90210
Office Phone: (310) 288-0110 x 2606
Email Me
I am here to give you my thoughts and opinion about pretty much anything. So hope you enjoy my posts! Please let me know how I'm doing and don't be afraid to leave your comments.
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