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Category Archives: Escrow

New Transfer Tax Disclosure Requirement Effective January 1, 2015

After January 1, 2015 a new California law will require documentary transfer tax to be included on the face of the property deed.  Prior to enactment of this new law, it has been common practice in commercial real estate purchase […]

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FHA is eliminating the post-payment interest charges

After Jan 21, 2015 FHA is eliminating the post-payment interest charges. Finally Homeowner’s who have an FHA Loan that is being paid off through escrow will not have to be subject to paying an entire month of interest or try […]

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When can the Buyer receive the keys and who will provide them to the Buyer?

When the Escrow Officer confirms that the recording is completed, the Real Estate Agents are notified and keys are distributed by the Real Estate Agents in accordance with the terms of the purchase contract. Read More

After the Buyer signs the loan documents, when will the escrow close?

After signing the loan documents are returned to the lender for review and the loan funding is scheduled. The Escrow Officer will be working closely with the Lender to coordinate the scheduling of these final details. Typically the escrow will […]

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Why is a “refundable pad” listed on my estimated closing statement?

The amount of funds required from a Buyer/Borrower for closing is based on the current information available to the Escrow Officer at the time the file is figured. If the closing date changes due to unforeseen circumstances, or charges or […]

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The closing is complete – now what?

Upon closing, review the closing statements to determine that the costs were allocated in accordance with your instructions. Any recorded documents to which you are entitled will be mailed to you after the escrow closes by the County Recorder’s Office or […]

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What is the fee for the escrow service?

The escrow fee is normally based on the size and complexity of the transaction. Since there are so many types of escrows and every transaction is different there are no set fees. Usually the escrow fee is divided in accordance […]

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What fees must I pay at closing?

Fees and charges are controlled by many factors and depend largely upon the type of transaction and the terms of your agreement. However, there are certain charges which are considered to be normal. These would include fees charged by a […]

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What happens at the closing?

When instructions of all parties to the escrow have been carried out, the closing can take place. All outstanding funds are collected at this time and all costs must be paid. Title to the property, whether real or personal, will […]

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If I still have questions about the transaction, where can I go for answers?

If negotiations have been conducted through a real estate agent, that person, or his/her broker, should be your primary consultant.
The role as an independent agent prohibits the Escrow Officer from answering many of your questions. However, a knowledgeable Escrow Officer […]

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