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Escrow is a financial arrangement where a third party holds and regulates payment of funds required for two parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account which is only released when all of the terms of an agreement are met.

A typical escrow process takes 30 to 60 days for a standard residential transaction. However, this timeline can vary based on the complexity of the deal, financing requirements, and whether all parties meet their contingency deadlines. Commercial transactions and 1031 exchanges may take longer.

A 1031 exchange, named after Section 1031 of the IRS Code, allows an investor to defer paying capital gains taxes when selling an investment property, as long as the proceeds are reinvested in a similar "like-kind" property. Our escrow officers are knowledgeable with the 1031 exchange process and can walk you through it.

To open escrow, you'll typically need the signed purchase agreement, earnest money deposit, identification documents, and any relevant property disclosures. Our team will guide you through the specific documentation required for your transaction type, whether it's a standard sale, short sale, probate, or trust.

A short sale occurs when a homeowner sells their property for less than the amount owed on the mortgage. Our experienced short sale escrow officers guide clients through this complex process, coordinating with lenders, agents, and all parties to ensure a smooth transaction.