Escrow Company in Manhattan Beach CA
Need an escrow company in Manhattan Beach CA? Look no further
When you need an escrow company in Manhattan Beach CA you need a company you can trust – and that company is Neighborhood Escrow. With experience in this industry since 1985, we can bring you both the exceptional history you need with the forward-thinking attitude you insist on. We are proud to be a well-respected company in the South Bay area and we look forward to your call at 310-378-2456.
What is escrow?
It’s common for a person to not know the first thing about escrow. The simplest way to think of it is as a trusted third party. Imagine that you are going to buy a new car from an individual you’ve never met before and you’re paying case. Would you want to give them the cash and hope that they did the right thing and gave you the car, or would you rather they give you the car before you give them the cash? In this example, escrow would be a third option: A trusted party holds both the car and the cash until all requirements for the sale of the vehicle have been made. Then each party gets what they are owed. The difference is that an escrow company in Manhattan Beach CA doesn’t handle cars – we handle real estate transactions.
Why do I need to work with an escrow company in Manhattan Beach CA?
When you work with an escrow company in Manhattan Beach CA, you get the peace of mind and security that your funds and / or property are protected. Escrow ensures that no money or property is going to change hands until very condition has been met by each party involved.
How exactly does the escrow process work?
Everyone involved, the buyer, seller, lender, and borrower, first agree on escrow instructions. Once they have done that, those instructions are sent to the escrow officer. In most cases, your real estate agent will take care of this step with input from you. Once the escrow officer gets the instructions and documents, they process the escrow.
A number of different duties may be involved in escrow, including paying bills, handling requests from all parties, handling funds, and recording documents. Once the escrow company in Manhattan Beach CA has completed all the steps, the escrow is closed, the funds are delivered, and the documents are handed over to the appropriate entities.
How does payment work with an escrow company in Manhattan Beach CA?
There are many requirements within the escrow instructions and it often costs money for those instructions to be carried out. For example, document transfer taxes, inspection fees, recording the grant deed, title insurance, etc. are fees that either the buyer or seller pays, depending on the way the agreement is set up. The escrow company has its own fees, which are generally split 50/50 between the buyer and seller.
When you find yourself in need of an escrow company in Manhattan Beach CA that has experience, offers personalized attention, and that can help you through the entire process, we recommend contacting Neighborhood Escrow at 310-378-2456 for more information.