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ESCROW FREQUENTLY ASKED QUESTIONS
Have all of your Escrow questions answered here!  

This information has been provided by your escrow officer in order to inform you about some of the aspects of escrow, including a clarification of the role of the escrow holder and knowledge that will help you through the escrow process. Entire books are written that explain the many elements of escrow; this writing is intended to provide an overview of the escrow processes only.

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ESCROW TOPICS
What is Escrow?
Why do I need an Escrow?
How does Escrow work?
Who chooses the Escrow?
What do I have to do while in Escrow?
What fees will be charged?

What about cancellations?
What about Title Insurance?
What about property taxes?
What is a closing statement?
Escrow and your new loan
The perfect Escrow; Does it exist?
Regulatory agencies' phone numbers

Other governmental agencies' numbers
 

THE PERFECT ESCROW; DOES IT EXIST?
Perfection is sometimes difficult to achieve, especially in dealing with the complexities of the escrow, the desires of the parties and other matters that are sometimes far beyond the control of the escrow officer. It is human nature to err on occasion, but your escrow officer has the background, training, education, support and systems in place necessary in order to accomplish the objectives of the escrow instructions.

In the event you have any problems in the handling of your escrow, you should first contact the escrow officer. If your problem is not resolved, you should next contact the management or owner of the company.

If the matter requires additional attention, you can call the proper regulatory agency.

There are five different regulatory agencies governing the escrow operations in California; Superintendent of Banks; Department of Corporations; Department of Insurance; the Department of Real Estate; and Department of Savings and Loan.


Regulatory Agencies' phone numbers:    
Department of Banking 800 622 0620  
Department of Corporations 800 347 6995  
Department of Insurance 800 233 9045  
Department of Real Estate 213 620 5903  
Department of Savings & Loan 213 736 2596 or 213 736 2798  
     
Other governmental agencies:    
Structural Pest Control 213 620 2255  
Home Protection Companies-Dept. of Insurance 800 233 9045  
Department of Alcoholic Beverage Control 714 445 6811 or 916 558 4101  
Department of Housing Community Development 714 558 4161 or 916 323 9224  
Secretary of State 213 620 3104  
     
 

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