FAQs

Escrow is a financial arrangement where a third party holds and manages funds or assets for two parties engaged in a transaction. California Escrow Law Section 17003 of the Financial Code defines it as the deposit of funds, a deed, or other instrument by one party for delivery to another party upon fulfillment of specific conditions or events.

Escrow is crucial for all parties involved in a transaction, including buyers, sellers, lenders, and borrowers. It ensures that no funds or property are exchanged until all transaction conditions are met. The escrow holder is tasked with safeguarding funds and documents, only disbursing them when all provisions of the escrow agreement have been satisfied.

The escrow process begins when the principal parties create and sign escrow instructions, which are then provided to the escrow officer. If a broker is involved, they typically supply the necessary information for preparing these instructions. The escrow officer then processes the escrow according to these instructions and closes it when all conditions are fulfilled. While escrows generally follow a similar pattern, each is unique to the specific property and transaction involved.

The selection of an escrow holder is typically made through mutual agreement between the principal parties. While real estate brokers may recommend an escrow holder, the principals have the right to select a competent and experienced professional for their specific type of escrow. Laws prohibiting referral fees are in place to ensure that consumers receive the best possible escrow services without compromise.

Yes, our company provides mobile notary services throughout California.