Escrow
Escrow enables the buyer and the seller to transact business with each other through a neutral party, thereby minimizing their risk. In the escrow, all parties involved give their instructions to this neutral intermediary, the "escrow holder" whose duty it is to assure that no funds or property will change hands until all instructions have been carried to completion. The escrow officer:
- serves as the communication link to all parties in the transaction.
- prepares escrow instructions.
- requests a preliminary title search to determine the basis upon which a title insurance policy may be issued.
- requests a beneficiary's statement or pay-off demand relating to existing financing.
- complies with lender's requirements, specified in escrow agreement.
- receives purchase funds from the buyer.
- prepares or secures the deed or other documents related to escrow.
- prorates taxes, interest, insurance and rents according to instructions.
- secures releases of all contingencies or other conditions as imposed on any particular escrow.
- records deeds and any other documents as instructed.
- requests issuance of the title insurance policy.
- closes escrow when all of the instructions of buyer and seller have been carried out.
- disburses funds as authorized by instructions, including charges for title insurance, recording fees, real estate commissions and loan payoffs.
- prepares final statements for the parties accounting for the disposition of all funds deposited in escrow.
As can be seen from the items above the escrow officer plays a key role in making sure that everything goes smoothly.
The escrow officer will typically request information that will allow positive identification of all the persons involved in the transaction.
Statement of Information Form
You can learn more about specific details of the escrow process by opening the following document:
Surviving the Real Estate “Escrow” Process in California: Important Things and Tips You Should Know, and Mistakes to Avoid
| Fidelity National Title Company |
| Mariza Lulo - Assistant Vice President Escrow Officer |
| 634 N. Diamond Bar Blvd. |
| Diamond Bar, CA 91765 |
| Phone:(909)612-2900 x 214 |
| Fax:(909)612-1771 |
| mariza.lulo@fnf.com |
| Central Escrow |
| Evonne Lao - CEO |
| 22632 Golden Springs Drive #300 |
| Diamond Bar, CA 91765 |
| Phone:(909)860-5140 |
| Fax:(909)860-6512 |
| evonne@centralescrow.net |
| Jade Escrow |
| Kim Tep - CEO |
| 19708 E. Colima Road |
| Rowland Heights, CA 91748 |
| Phone:(909)594-8888 |
| Fax:(909)869-5538 |
| kimtep77@yahoo.com |
| Jewel Escrow |
| Sandra McMahon - CEO, CSEO |
| 1930 S. Brea Canyon Road #270 |
| Diamond Bar, CA 91765 |
| Phone:(909)861-6800 |
| Fax:(909)861-6811 |
| sandeemcmahon@yahoo.com |
| Mercury Escrow Co |
| Deborah Dudley - CEO, CSEO |
| 17800 Castleton Street Suite 100 |
| City of Industry, CA 91748 |
| Phone:(626)912-1651 |
| Fax:(626) 912-6819 |
| debbie@mercuryescrow.com |
