Posts

Showing posts with the label escrow

California Escrow Rules & Regulations Courtesy of The Deem Team

Image
714-997-3486 The escrow process is an important part of buying, selling and refinancing real estate in California. Although many people are experienced in the buying and selling of homes, the actual working of escrow can remain largely a mystery. Specific rules and regulations of California escrow must be adhered to by a team of experienced people to make real estate closings successful. These rules help to protect the public and minimize risk for individuals. Providers – An escrow provider must be licensed by the California Corporations Commissioner. Providers must be a corporation and in the business of receiving escrow for deposit or delivery. Some exceptions exist, however. Certain entities do not necessarily need to be licensed to perform escrow services. These entities include attorneys with a client relationship to a principal of a real estate transaction, banks, trust companies, insurance companies or a savings and loan company. Also exempt from licensing are title compa...