Escrow Services in Manhattan Beach CA
You have access to personalized escrow services in Manhattan Beach CA
There are plenty of people who don’t know the first thing about escrow services in Manhattan Beach CA. They may know they need these services when buying or selling a property, but they often don’t know exactly what they entail or how to find the right company. If you are in that boat then this is the page for you. At Neighborhood Escrow we have been offering escrow services since 1985 and are here today to give you the details on what exactly that entails.
What exactly is escrow?
When a person discovers they need escrow services in Manhattan Beach CA, their first question is often: “What is escrow?” Put simply, escrow is a process in which a third party holds money and documents from both sides of a real estate transaction. In most cases, the parties in question are the buyer and the seller, and often the lender and the borrower as well. The escrow agent follows the detailed instructions given by the involved parties to ensure that all requirements set out by the Joint Escrow Instructions and Residential Purchase Agreement are followed.
Yes, you do need escrow services in Manhattan Beach CA
It’s not uncommon for a person to wonder if they even really need escrow services. The reality is that if you are involved in a real estate transaction in any form, as the buyer, seller, lender, borrower, etc., then escrow services in Manhattan Beach CA are important. They protect your investment and your funds, they give you the peace of mind that everything is handled correctly, and they take many of the tasks and most of the pressure from you.
Learn more about escrow services in Manhattan Beach CA
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 has completed all the steps, the escrow is closed, the funds are delivered, and the documents are handed over to the appropriate entities.
Payment for escrow services in Manhattan Beach CA
The Escrow Instructions will include instructions that often come with fees. The escrow officer may be required to pay the document transfer tax, to pay fees for the property inspections, pay the title insurance company, pay the recording fees for the grand deed, and other fees. In most cases, the buyer or seller will pay for these, in accordance with the agreement they come to before escrow is set up. The escrow company has fees as well, which are most commonly paid 50/50 between the buyer and seller.
If you are looking for escrow services in Manhattan Beach CA then we highly recommend you contact Neighborhood Escrow at 310-378-2456. We are here to walk you through this process.