Unlike a traditional real estate transaction either party can pay any of the costs.
The money does not need to be seasoned. Many traditional real estate transaction are delayed or cancelled because funds coming into the escrow have not been seasoned. Meaning the money was not in someones account for a long enough period of time to satisfy the lender in the transaction.
Money coming into the escrow can come from any source as long as it is wire transferred into the escrow account. This eliminates any possibility of the government declaring that the funds were laundered in any way.
The facilitation fee is 1% of the properties value as determined by the Real Estate Purchase Contract.
The escrow fee is a flat $750. This is the entire escrow fee not the fee for each party.
We only use independent escrow companies. The company of choice is The Escrow Source in Laguna Niguel.
The Escrow Officer is Michelle Rahe.
California Title Company issues all of our title insurance. We use their standard rates.
Unlike a living trust that could cost up to $2,500 the legal fee to set up the trust is only $350.
There is an ongoing monthly management fee. The fee is .5% of the trust properties value at the time it was placed into the trust divided by 12 and paid monthly.
EXAMPLE $500,000 x .5% = $2,500 dollars per year. $2,500 divided by 12 = $208.33
We believe that is to much to pay so we have a maximum fee of $150 per month.
As part of the initial up front costs the Trustee must receive through escrow an amount equal to 2 months total payments.
These funds are held in a segregated non-interest bearing account. The funds are held in reserve so that if an incoming payment is late the Trustee will still be able to make the current payments and not put the Sellers credit at risk.