real estate: 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 … (3 comments)
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real estate: What is a Reverse Mortgage? - 08/21/08 06:47 PM
Most recently, frequently I have been asked, What is a Reverse Mortgage?
From what I understand, A "reverse" mortgage is a loan against your home that you do not have to pay back for as long as you live there. With a reverse mortgage, you can turn the value of your home … (0 comments)
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real estate: 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 … (10 comments)
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real estate: 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 … (13 comments)
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real estate: 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 … (6 comments)
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real estate: 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 … (18 comments)
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real estate: 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 … (3 comments)
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real estate: Escrow Closing Procedures Around The United States - 04/17/07 06:02 PM
This is a very long article. But stroll to your state to look up the information. Thought I would share.
This summary is merely a general reference guide. Local practices within your city or county may differ. Contact a local title company or real estate attorney for specific information. This is not … (18 comments)
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real estate: 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 … (2 comments)
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real estate: 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 … (3 comments)
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real estate: 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 … (7 comments)
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real estate: 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 … (2 comments)
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real estate: 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 … (7 comments)
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real estate: Why choose us? An Independent Escrow Company. - 04/02/07 01:04 AM
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