Frequently Asked Questions

AS ESCROW PROFESSIONALS, WE WANT TO MAKE SURE
YOUR TRANSACTION IS HANDLED CONFIDENTLY & PROPERLY!

Can You Explain What An Escrow Is?

The buyer and seller conduct business with each other through a neutral intermediary, your escrow company. Mutual written instructions by both parties are carried out by the escrow holder to exchange property and funds.

When Do I Open An Escrow?

As soon as you and your other party are in complete agreement, a mutually selected escrow officer should be called. Consider the professional advice of your real estate agent.

What Does The Escrow Officer Need From Me?

Along with the terms of the sale the following are a list of items that are most helpful to expedite your transaction.

Seller

  1. Recent existing lender statement(s).
  2. Current Home Owner Association documents.
  3. Recent structural pest control report (if required).

Buyer

  1. Complete names & vesting
    (seek tax advice as to consequences of how you take title).
  2. Initial deposit check.
  3. Terms of financing and new lenders name.
  4. Insurance agent informationTOP

The Escrow Officer Does:

Prepare instructions and specific documents. Order all necessary payoff or assignment statements, homeowner association statements and title search. Secure releases of existing liens of record and disburses documents in accordance with mutual written instructions. Prepare all final statements for principals, accounting as to the disposition of all funds deposited with the escrow officer. Provide you with the assistance to close your transaction quickly and effectively. Escrow officers are trained, experienced professionals.

The Escrow Officer Does Not:

Act as a negotiator for the transaction or any terms thereof. Offer legal and or tax advice. Offer investment advice.

What Advice Can I Get From The Escrow Officer?

Remember, an escrow officer cannot give legal advice. The purpose of escrow is to carry out the mutual instructions of the buyer and seller. If there are any disagreements between the principals, the escrow officer remains neutral until an agreement is negotiated. The escrow officer does not become involved in the negotiations.

Who Pays The Fees & Costs?

The charges of a transaction are dependent on the type and complexity of your transaction and the terms of your agreement. Both your professional real estate agent and your escrow holder can help you determine those costs. The seller typically pays for those costs involved in assuring the buyer a clear title and the buyer typically pays for any costs involved in the financing. The escrow fees are normally paid one half each. There are exceptions to the rules, so be sure to consult your professionals for help.

Who Can Answer My Questions?

Your primary consultant should be your real estate agent / broker if the negotiations have been conducted through them. The escrow officer will often refer you to the real estate agent/broker, legal counsel, or quite possibly a tax advisor.

What Happens If The Transaction Cancels?

A cancellation agreement must be reached between the parties with mutual written instructions calling, with live signatures, for the disposition of any funds and/or documents. Payment of any charges incurred should be considered including fees and costs incurred by the lender, homeowners association, title company and escrow holder. If the parties cannot agree, a court order may be needed.TOP

What Happens At Closing?

The closing can take place when all instructions have been complied with. After all funds have been collected and costs paid, the property title can be transferred. This transfer of title is called the "recording". Recorded documents and title policies will be mailed to you after closing.

Quick Tips

Testimonials

For Julie Parker: Julie Parker is by far the most proficient and meticulous escrow officer I have ever had the pleasure to work with.  Not only have I been impressed by her effectiveness, but my clients have been enamored by her personal customer service.

- Pablo Rener, Broker




For Julie Parker: I just wanted to thank you for your dedicated work in successfully closing escrow on the Laguna Woods Village property. This was a quick escrow with many special requirements and your ability to remain calm and professional in your communications throughout the entire process made everything go very smoothly. Your knowledge and expertise enabled us to close on time and my buyer is extremely happy. You were a joy to work with! I would recommend Julie Parker at Coast Cities Escrow to anyone!

- Cindy Uhrik, Realtor




For Julie Parker: I want to express my sincere appreciation and recognize the amazing job that Julie Parker did with a closing today. The escrow company selected by the Seller was unable to get a payoff demand after many attempts over the last 2 weeks and had given up. I went to Julie for help this morning because I didn’t know where else to turn. To make a long story short, she jumped into the middle of the nightmare and told me she’d do whatever she could to make it happen for our clients. Through perseverance and a few key industry contacts, she had all the issues resolved within 2 hours! The other escrow company had been trying to get this done for the last 2 weeks! This wasn’t even her escrow!! She clearly went out of her way to throw us a “life ring” at the 11th hour with a commitment to our success that is far above anyone’s expectations. Julie is truly one of our most valuable assets and we’re very lucky to have her as part of our team. I give her the highest recommendation possible and can assure you she has 100% of my loyalty for all future escrows. Julie unselfishly made things happen when others couldn’t! Most importantly, we have happy first time homeowners moving into their new home tomorrow.

- Dean Lueck, Realtor




For Laura Morse: What a great job you and your team have done again for us. Our escrow closed on time. All the paperwork was done to the highest standards. We have happy buyers, sellers and real estate agents. Your prompt and timely attention to all issues and a quick and accurate resolution to all matters did make our lives easier. Your positive attitude at all times was amazing. Thank you again for your professionalism, accuracy and timely responses. We are looking forward to be working with you and your team on all our future transactions.

- Rula Malas & Cyrus Movaghar, Realtors




For Laura Morse: For the last 15 years, I have used the services of Laura Morse at Coast Cities Escrow. She has handled dozens upon dozens of transactions for me. I know I can rely upon Laura as she has dealt with every type of transaction for me you can imagine without dropping the ball or giving less than 100% effort for my clients. In the current market in which Short Sales are a large portion of nearly everyone’s business, I find Laura to be crucial to the success of my business. Knowledge, experience and responsiveness to clients needs – isn’t that what it’s all about?

- Mikey Hall, Realtor




For Beverly Toma:I recently had a listing referral that I gave to one of our Huntington Beach Brookhurst agents and had the pleasure of working with Beverly Toma. Beverly was so helpful and professional throughout the transaction that it made my job that much easier. She always included me in all of the email communication and I never had to question where we were in the process. I can’t tell you how much I appreciated that! She was a pleasure to work with and I look forward to working with her on future transactions.

- Susan Vindiola, Mobility Manager Relocation & Corporate Services Division




For Beverly Toma:I am privileged to have worked with Beverly for over 2 years now and could not be more pleased with her quality of service and level of professionalism. I can count on her to remain on top of my files and know she is prepared for any situation that comes up. She always goes the extra mile to guarantee each transaction runs smoothly and can naturally make my clients feel at ease when working with her. She is dedicated and works hard and I look forward to working with her in the years to come.

- Lily Campbell, Realtor




For Beverly Toma: I recently had the opportunity to work with Beverly on a transaction in Costa Mesa and I will say that I had a very pleasant experience. As a real estate broker, clear communication is the most important aspect of any real estate transaction and she was excellent when it came to that part. Beverly was always available for me and my team to answer any questions, concerns or requests we had throughout the escrow process. She was always extremely helpful and made my client and I feel as if our specific transaction was the most important one on her plate. If I can work with her again, I definitely will. She is very courteous and gets directly to the point ensuring no time is ever wasted. If we were not able to get a hold of Beverly, her team members were always there to assist and would jump right in to take care of us. Whatever systems she has in place are definitely effective and working. I highly recommend working with Beverly and using her for your escrow needs when possible. Thank you Beverly!

- Ernie Aguilar, Broker