Escrow Company in Palos Verdes CA
Need an escrow company in Palos Verdes CA? Look no further
When you need an escrow company in Palos Verdes 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 exactly is escrow?
When a person is told they need an escrow company in Palos Verdes 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 Palos Verdes CA?
When you work with an escrow company in Palos Verdes 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.
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 Palos Verdes CA. 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.
How does payment work with an escrow company in Palos Verdes 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 Palos Verdes 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.
