Escrow Company in The South Bay CA
Work with a well-established escrow company in The South Bay
If you are in need of an escrow company in The South Bay 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 exactly is escrow?
When a person is told they need an escrow company in The South Bay 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.
Why do I need to work with an escrow company in The South Bay?
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.
What is involved in the escrow process?
The first step is for all interested parties (typically the buyer, seller, lender, and / or borrower) to agree on escrow instructions. They then hand those instructions off to the escrow company in The South Bay. The escrow agent then follows the instructions in the escrow agreement, which may include things like handling the requests from various involved parties, paying liens, paying mortgages, recording documents. Once all requirements have been met, the escrow closes, funds are delivered, and the sale is complete.
Who pays the escrow company in The South Bay 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 The South Bay 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.