Once a seller has accepted an offer on his or her property, the home goes into escrow. During this process, the buyer and seller deposit pertinent documents. And, in the case of the buyer, deposit funds with an escrow firm until the parties meet the conditions of the sale agreement. At that point, the transaction can proceed. Unfortunately, the escrow process can fail.
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Just hours after submitting their $775,000 down payment for their new home, Kevin and Nicole Noar from Solana Beach discovered they’d been scammed. Instead of the money going to their escrow agent’s account, it went to a hacker’s bank account in Singapore, according to ABC 10 News San Diego. Welcome to the world of escrow scams. Read More >>
According to a survey by the National Association of Realtors — or NAR — almost 50 percent of female real estate agents have had an experience in the past 12 months that made them fear for their personal information — or for their personal safety. For males, that number was 25 percent. Fortunately, there are some practical real estate agent safety tips that, when consistently applied, can help you stay safe. Read More >>
You’re in the last stages of buying your first home. It’s an exciting time, and you can’t wait to move into your new place. But then your LA escrow agent informs you that the down payment and closing costs you wired yesterday still haven’t arrived. After a brief investigation, it soon becomes clear that you’ve fallen prey to a mortgage closing scam. Read More >>
When your clients buy a new home, chances are they’ll be required to have an escrow account after the transaction is completed. Note that this is distinct from the escrow firm you work with during the transaction, which collects your clients’ documents and funds prior to the actual sale. Read More >>
Are your buyers looking for a good deal on a piece of real estate? Then purchasing an REO property might be the right choice! Here’s some fundamental information about REO properties you can share with them. To get in touch with a professional escrow company, reach out to Escrow Hub LA today. Read More >>
The process of purchasing — or selling — a piece of real estate is complex. There are many steps involved — especially when the purchasing party is making use of financing. During this process, an escrow company plays the role of an independent third party.They collectall of the documents from the seller and buyer, then verifies the veracity of those documents. Read More >>
When you purchase a piece of real estate, one of the documents you’ll need is a preliminary title report. But what exactly is this, and why is it so critical to a sale? To learn more about preliminary title reports and which escrow services in Los Angeles you may require, get in touch with the resident escrow experts at Escrow Hub. Read More >>
The home selling and buying process involves large sums of money. A professional escrow company holds the funds and documents. This is why you need a neutral third party when buying a home. Once both parties meet the terms of the contract, the sale gets finalized. The agent and escrow company have many tools to help buyers stop wire fraud. Read More >>
It’s a well-known fact that drug traffickers, money launderers, corrupt officials, terrorists, and other criminals often use residential or commercial real estate transactions to launder money, conceal their identities and hide their money. Read More >>
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