Introduction to the importance of escrow with Teresa of Escrow Options in Valencia | What is Escrow

Introduction to the importance of escrow with Teresa of Escrow Options in Valencia | What is Escrow


[music] Hello everyone. I’m here with Teresa
Boyle from Escrow Options. I’m so excited. She’s been in the business for many
years and I love her experience with ESCROW!
What is escrow? So that is, we get an offer accepted and what do we start? We
open escrow! So let’s see what escrow is, but what does it do, what does it take to
to get to the end of escrow, in closing escrow? Hi Teresa!
Thank you! Hi. We’re looking, we’re here to talk about escrow and what
to expect, whether you’re a buyer or seller. We open escrow and we here facilitate the
transaction making sure the contract is is fully executed, the buyer’s deposit is on
file within that three-day mark. We want to make sure that if there’s a loan that
the loan is in process and get full loan approvals so that the sellers can move
on to their next chapter. We also make sure documents are fully executed in our
office; we do handle notarizations, that kind of thing;
making sure all documents are processed with the County Recorder correctly. Very
good! Another thing, the deposit, where does it go? Do you guys keep the deposit
or what happens with that deposit? Yes, the deposit gets put into our trust
account during the term of the escrow. Once everything is fully executed and
escrow is closed, then we can disperse those funds to the appropriate parties.
Very good, very good, so they are basically our right arm; so they
support us, they make sure that everything is on time, that everything
gets delivered, that everybody signs and everything, all the documents that are
required to get that transaction going and close it smoothly — it’s up to them too. So, it’s us Realtors but they are the ones they have everything in place, they
have all the paperwork. So, very good. So, if you like it, please put a like,
subscribe, and please stay tuned for the next one. Take care! Thank you! [music]

Author: Kevin Mason

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