U.S. real estate transactions are prime targets for wire fraud. Considering that diverting a single wire transfer offers an average payout of approximately $169,000, it is clear that Buyers and Sellers should exercise the highest caution when managing their funds in escrow. Technology continues to improve the ease of many workday functions, however it also opens an additional avenue for … 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
The Importance of Seeking Qualified Counsel
There are sensitive matters of real property and contract law, and many important tax considerations, which surround the sale and purchase of a California home. While the California Association of Realtors, American Land Title Association and California Escrow Association have developed thorough and effective documents and tools to facilitate the process, consumers should remain vigilant in their approach to a … Read More
Did you know? Webcam Notarization
California is expected to join several other states by allowing Remote Online Notarization effective in the near future. Once again, the future is upon us. Learn more on the National Notary Association website here.