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Home Escrow Company,Inc., is an independent escrow company licensed by the State of California, Department of Corporations, since June 7,1976. Our staff with a combined experience of over 100 years, specializes in escrow for all Real Estate Sales Transactions, Bulk Sale Transfers, A.B.C. Liquor License Transfers, 1031 Tax Deferred Exchanges, Mobile Home Escrow's, Loan Refinance and Loan Escrow Transactions.For detailed information on our services.
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Liquor License Transfers
Definition: The act of buyer or selling a liquor license
Liquor license transfers are unique and can be complicated in nature. Your Escrow Officer must work closely with the Alcoholic Beverage Control (ABC) to facilitate the recording of the notice to creditors and the transfer of the liquor license. AGAIN, IT IS VERY IMPORTANT that your Escrow Officer have the expertise and know how of these types of escrows as it is essential to the success of a smooth transaction.
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Commercial / Industrial Real Estate
Definition: The act of buying or selling a property that is zoned for commercial or industrial use
Commercial/Industrial sales often require that more than just real property pass through an escrow. They may include multiple leases and deposits (and, in the case of business sales: personal property, inventory, and/or liquor licenses). While commercial/industrial sales follow the same basic procedures as residential resales, there are many details involved in commercial closings. Your Escrow Officer MUST comprehend every aspect of the transaction.
Our Escrow Officers are specialized in commercial / industrial transactions including:
• Apartments
• Hotels
• Investment Properties
• Land Acquisitions
• Malls, Retail Properties, Shopping Centers, Office Buildings
• Restaurants
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Investment Properties
Definition: A property that is not occupied by the owner, usually purchased specifically to generate profit through rental income or resale
Investment Properties commonly fall under the umbrella of commercial/industrial real estate due to a large interest in office buildings, etc.
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Refinances
Definition: To replace an existing mortgage loan with new financing
Refinancing involves the payoff of an existing loan with the proceeds from a new loan, using the same property as collateral. In order to decide whether this is worthwhile, the savings in interest must be weighed, reducing the term of a longer mortgage, replacing an adjustable rate loan with a fixed-rate loan or withdrawing cash equity against the fees associated with refinancing.
The process of refinancing can be problematic and cumbersome endeavor that requires innovative problem solving and timely follow-up.
Leading financial institutions and mortgage brokers trust Home Escrow Co., Inc., to process refinances for their customers.
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Mobile Homes / Manufactured Homes
Definition: The act of buying or selling a mobile or manufactured home
The sale or transfer of a mobile or manufactured home is considered a specialized area of real estate. First, unless attached to the foundation, a manufactured home is considered personal property, making the guidelines for this escrow different from those of a site-built house. In this instance the home is registered with the Department of Housing and Community Development. However, if the property is affixed to the land, it is considered a “manufactured home” and real property and then the transaction is similar to that of residential resale.
Our Escrow Officers have a thorough understanding of all regulations and the up-to-date knowledge of this unique process. This is in absolute necessity in providing a smooth transaction. Home Escrow remains educated on all laws and requirements involved.
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Short Sale Escrows
Definition: The act of selling and buying a property that is over encumbered
Short Sale escrows often fall under the umbrella of “R.E.O.’S”. A short sale is an escrow where the owner has over encumbered their property and the property is no longer worth the value in once was. At times, this will force many foreclosures and the owners will just walk away from their home. Other times, the owners will place the property on the market and sell it for whatever they can with the proceeds being sent to the financial institution as payoff.
There are several challenges with short sale escrows. Here Here
Here at Home Escrow our staff is very experienced in working with the sellers, buyers, real estate brokers/agents and financial institutions to ensure that the escrow closes in a timely manner. We can help with the pre-approval process. Contact your escrow officer and they can assist you in every aspect of the closing.
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Designed by Kenneth Fasick
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