Escrow Company in Torrance CA
Need an escrow company in Torrance CA? Look no further
If you are in need of an escrow company in Torrance 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 Torrance 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 Torrance CA?
When you work with an escrow company in Torrance 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 Torrance 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 Torrance 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 Torrance 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.