Services we provide at Neighborhood Escrow Inc.
Neighborhood Escrow is your go-to escrow company – we’ve been serving the greater South Bay area since 1985. We specialize in escrows for all kinds of property transactions including residential, resale, refinances, commercial, banked owned REOs, income, and multi-unit income. You can trust Neighborhood Escrow to handle all your escrow needs with efficiency, accuracy, and professionalism. It’s our honor and responsibility to serve as your agent during your escrow transaction. You’ll find that everyone at Neighborhood Escrow expresses patience, understanding, and respect in all our dealings.
The big question
But you may be wondering, “what is escrow?” Not to worry – plenty of people have no idea what escrow is. Basically, escrow is a process that allows a neutral third party (the escrow company) to hold money and documents on behalf of the parties involved in a real estate transaction. Parties typically included in an escrow transaction are the buyer, seller, lender, and borrower. The escrow company’s agent is responsible for following all the instructions given by these parties and ensuring all the requirements described in the Residential Purchas Agreement and Joint Escrow Instructions are met before closing.
Get complete peace of mind
Real estate transactions are a very big deal. For your complete peace of mind, it’s essential that you work with Neighborhood Escrow. That way, no money or property will change hands until all the purchasing conditions that all parties have agreed upon have been met. We’ll make sure all instructions are followed closely – down to the last detail.
What will working with Neighborhood Escrow be like?
At Neighborhood Escrow, we’ll take of every detail for you. The buyer, seller, lender, and borrower will agree on escrow instructions and deliver them in writing to the escrow officer. In most transactions, the real estate agents, with input from their clients, will provide the information needed for this process. Then once the escrow officer from Neighborhood Escrow has received all instructions and documents, they will effectively process the escrow. Processing the escrow often involves many different steps including making sure the instructions from the parties are mutually compatible, paying bills as authorized, responding to authorized requests from the parties, and handling all funds and documents according to the specified instructions. As soon as all instructions have been properly complied with, the escrow officer will close the escrow and deliver the funds and documents to the appropriate parties.
Who is responsible for paying escrow fees?
Fees included in escrow include the document transfer tax, recording of the grant deed, title insurance, inspection fees, notary fees, etc. These kinds of fees can be paid by either the seller or buyer (or perhaps even the lender in some cases), depending on the traditions and practices in the local area and on the preferences of the involved parties. In many instances, the buyer and seller will split the escrow company’s fees fifty-fifty.
Ready to get started? Contact Neighborhood Escrow by calling 310-378-2456 or emailing debbie@neighborhoodescrow.com.
