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fsbo: 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)

fsbo: 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)

fsbo: 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)

fsbo: 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)

fsbo: 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)

fsbo: 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)

fsbo: What is Escrow? Who chooses the Escrow and When? How Does Escrow Work? FAQ's - 04/02/07 01:20 AM
  
What is Escrow? Escrow is a service that provides a means of security in the handling of important funds and documents. The California Escrow Law, Section 17003 of the Financial Code, provides the legal definition of escrow. An escrow holder works with the Buyers, Sellers, Lenders and Borrowers ("the principals") involved in a transaction to assure funds and documents change hands at the appropriate point in time, after preset conditions have been met.
After the principals agree upon an escrow holder, the group must provide the holder with a set of written instructions, mutually agreed upon by all parties. The escrow holder … (9 comments)

fsbo: Why choose us? An Independent Escrow Company. - 04/02/07 01:04 AM
 
… (5 comments)

 
Cheers%20to%20happiness

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

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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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