Release of New Geographic Targeting Order by the US Treasury Department

The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a new Geographic Targeting Order which describes the Covered Transactions for which title companies are required to gather information on All-Cash Entity Buyers. The Order is in effect from November 17, 2018 to May 15, 2019. Entity Buyers, such as Limited Liability Companies and Partnerships, can expect to be asked … Read More

First Installment of Property Taxes: Due November 1st!

Friendly reminder that the First Installment of property taxes are due on NOVEMBER 1, 2018 (and are considered delinquent after December 10, 2018)! To all sellers who are scheduled to close escrow ON OR BEFORE DECEMBER 10TH and have not yet issued their First Installment payment: It is in your best interest to pay the tax installment through escrow rather … Read More

Protect Yourself from Wire Fraud

U.S. real estate transactions are prime targets for wire fraud. When you consider that diverting a single wire transfer offers an average payout of approximately $169 thousand, it is clearly evident that Buyers and Sellers should exercise the highest caution when managing their funds in escrow. While technology continues to improve the ease of many workday functions, it also opens an … Read More

Property Tax Prorations Chart

Who pays what and when? At the closing of any real estate transaction, property expenses should be divided fairly between the buyer and the seller so that each party is paying only for those days which he/she owns the property. Who pays what and when varies greatly depending on the close date! Download our Property Tax Proration Chart for an … Read More

Your Guide to California Real Estate Withholding Forms

No matter the time of year, State Income Taxes must be considered during every California real estate transaction.  All parties to the sale can use our new guide to help navigate the various FTB Real Estate Withholding Forms which will be distributed by the Real Estate Escrow Person (REEP – that’s us)!” Use this free guide to learn more about … Read More

Closing the Deal

You’ve completed volumes of paperwork, answered a million questions, and learned a whole new vocabulary – so how do you finally get to the big prize: Closing Day? Depending on the complexity of your transaction, you may spend what feels like extended periods without hearing from anyone. This usually occurs when things are going well, and your assistance is not … Read More

Holding an Interest in Real Property

One of the most important decisions homebuyers must make is determining how their legal interests will be reflected in the Grant Deed that records at the close of escrow. The manner in which the ownership interest of each party is stated is called the vesting of title to real property. The vesting defines the share of ownership each holds, and … Read More

The Life of an Escrow… and a Free Download!

From the moment a Realtor delivers a Purchase Agreement to escrow to the distribution of final Closing Statements, the escrow process will follow many paths. Each transaction is different and requires its own plan of execution to ensure a smooth and successful close. The “Life of an Escrow” is furnished here in an easy-to-follow outline of the various ways to … Read More

Behind the Curtain: Invisible Escrow Tasks

Much of the escrow process is hidden from public view, and its function is often a mystery to the outside world.  To a great extent, this is due to the confidentiality of the information we encounter, but it also results from a variety of ancillary tasks which settlement agents must perform in every escrow as a result of government regulation.  … Read More

Close on Schedule: Agent’s Edition!

Close on Schedule – Agent’s Edition What agents can do to ensure that properties in escrow will close on target: Send your property profile to escrow along with the contract Provide your client’s contact information to escrow immediately Ask questions about anything that concerns you Prepare your client to expect a crucial package of forms (And tell them to return … Read More