The team of professionals at Escrow Resources have decades of experience handling residential escrow settlement, ensuring the needs and requirements are met by all parties involved in the transaction. We understand that buying a home is the most important real estate investment you will ever make, and you can be confident that your escrow transaction is handled professionally, accurately and with diligence.
Real Estate Owned (REO, Foreclosure)
Real estate owned (REO) or foreclosure escrow transactions are very different from regular real estate escrow, and in many cases more complex. These escrow transactions require a unique and specialized approach, including strict adherence to sale conditions when the property is owned by a bank. As REO sellers are usually dealing with a large volume, many employ a number of professionals who manage the sale of bank properties.
To ensure REO escrow transactions are closed as quickly as possible, the escrow officers at Escrow Resources Inc. proactively manage and resolve any problems before a delay can occur and monitor the performance of the transaction daily.
Closing escrow on multi-family properties in California comes with unique challenges. Count on the professionals at Bayside Escrow for a simple, streamlined approach with superb, flawless service that ensures every party involved maintains confidence in the escrow process.
Short sales are transactions in which the sales price is lower than the balance owed on the property's loan and closing costs, with the lender deciding to allow the sale for less than the amount owed with the seller receiving no proceeds from the sale. Homeowners turn to short sales to avoid the greater harm to their credit rating associated with foreclosure, while lenders benefit by avoiding the greater expenses associated with the foreclosure process.
Escrow Resources Inc. escrow officers understand the inherent complexity of short sale escrow transactions. We will guide you through the entire process and work toward successful closing while managing every detail and maintaining a proactive approach to avoid delays.
For Sale By Owner
Many consumers attempt to save money by buying or selling a property on their own without an agent. Escrow Resources Inc. manages escrow accounts involving For Sale By Owner (FSBO) properties. Our escrow officers are experienced in dealing with these unique escrow transactions.
Commercial escrow settlement involves transferring property such as industrial property, retail property, offices or apartment complexes. At Escrow Resources Inc., we understand the unique aspects of handling commercial escrow, as these transactions often become very complex. In many cases, the escrow officer is the sole party with a grasp of every transaction and closing requirement. Count on the Escrow Resources Inc. escrow officers to have the skill set necessary to manage every detail of commercial real estate escrow transactions.
Rifinances and Loans
Refinancing involves paying off an existing loan with proceeds from a new loan, typically to reduce the term of a home loan or reduce monthly payments through lower interest rates. Refinancing can be a very problematic process, and it is our job to approach refinancing escrow transactions to resolve any problems or hurdles efficiently before they delay closing.
At time when most tax shelters have been abolished, one remains: the tax deferred exchange. A exchanger continues his/her investment selling one piece of property (the relinquished property /first leg and then uses the proceeds to purchase a second property (the replacement property /second leg). Under internal Revenue Code §1031, the Exchanger may defer the gain realized by reinvesting in “like-kind” property. In this way, the taxpayer is able to reinvest 100% of the sales proceeds without paying any capital gains tax.
Once an Exchanger has transferred the relinquished property, several requirements must be satisfied to quality as a tax deferred exchange under §1031. The taxpayer must identify “like-kind” replacement property within 45 days from the first closing and close on the replacement property(S) within 180 days of the closing of the relinquished property.
Our team has experience handling escrow for vacant land transactions throughout Southern Californi, to eliminate worries of every party involved and handle every detail efficiently and accurately.
Planned Unit Development/ Condominiums
The team of professionals at Escrow Resources Inc. have decades of experience handling residential escrow settlement, ensuring the needs and requirements are met by all parties involved in the transaction. We understand that buying a home is the most important real estate investment you will ever make, and you can be confident that your escrow transaction is handled professionally, accurately and with diligence.
Probate or Ownership Challenged Escrow Services
The escrow officers at Escrow Resources Inc. have years of experience handling this unique and very challenging real estate transactions. Our probate escrow services are unparalleled with the dedication and knowledge you need to avoid potentially costly and time-consuming issues along the way.
Reverse Mortgage Escrows
The team of professionals at Escrow Resources Inc. have experience in handling reverse mortgage escrow settlements, ensuring the needs and requirements are met by all parties involved in the transaction and you can be confident that your escrow transaction is handled professionally, accurately and with diligence.
Gift Of Equity
A gift of equity refers to the gift provided by the seller to the buyer in the form of existing home equity. In this type of scenario there is no exchange of funds. The seller simply agrees to take less net proceeds at closing, which allows the buyer to have instant equity while providing no down payment.
These types of transactions are common with parents who are selling their home to their child.