Escrow Company in Redondo Beach CA
Work with a well-established escrow company in Redondo Beach
If you are in need of an escrow company in Redondo Beach CA then you likely have many options to consider. While it may on the surface seem as though most companies are as good as another, the reality is that Neighborhood Escrow brings something unique to the table. We’ve been proudly serving the South Bay since the mid- ‘80s. We provide truly customized and personalized services. Read on to learn more about what escrow is and why you need it, then contact us at 310-378-2456 for help.
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 Redondo Beach CA doesn’t handle cars – we handle real estate transactions.
Why do I need to work with an escrow company in Redondo Beach CA?
Knowing what an escrow company does is just the first step – now you need a better understanding of why you need it. The simple answer is that an escrow company protects your assets and / or property while the transaction is ongoing. It ensures that you get peace of mind and security that all instructions for the sale are being handled correctly.
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 Redondo 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.
Who pays the escrow company in Redondo Beach CA?
Most of the activities that are included in escrow instructions will have fees. For example, there will be a document transfer tax, fees for recording het grant deed, fees for inspections, costs for title insurance, etc. These fees are paid by either the seller or the buyer depending on the what the involved parties decide. In most cases, the fees for an escrow company will be paid by the buyer and seller, who will split the fees 50 – 50.
If you are in need of assistance from a reliable, experienced escrow company in Redondo Beach CA then it is time to contact Neighborhood Escrow at 310-378-2456. We are here to answer your questions, help you through the process, and ensure your needs are met.