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Nick Hall
Broker Associate
Coldwell Banker Premier Real Estate

48 South Ocean Avenue
Cayucos, CA 93430
Phone: 805-458-4544
Fax: 805-995-3657
Email: nickhall@sceniccoastrealty.com

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

Nick Hall

The Escrow Process
What Exactly Is An Escrow?
An escrow occurs when a neutral third party holds the documents and monies involved in a real estate transaction and ensures that all conditions of the transaction are met. Escrow also refers to a special account that a lender establishes to hold monthly installments from the borrower to cover property taxes and insurance.

What Does An Escrow Holder Do?
An escrow holder is a neutral third party who takes instructions based on the terms of the real estate transaction and, when necessary, the lender's requirements.

What Are The Duties Of The Escrow Holder?
    Receiving and holding all monies, instructions, and documents pertaining to the real estate transaction.
  • Serving as the communication link and liaison between all parties.
  • Requesting a preliminary title search to determine the condition of title to the property.
  • Requesting a beneficiary statement or payoff demand from existing lenders.
  • Holding inspection reports, deeds, and insurance documents.
  • Complying with the lender's requirements in its instructions to escrow.
  • Preparing or obtaining the grant deed.
  • Prorating taxes, interest, insurance, rents, and other costs related to the property.
  • Recording the deed and other documents.
  • Requesting the title insurance policy.
  • Closing the escrow according to the instructions of the buyer, seller, and lender.
  • Disbursing funds as authorized by the instructions, including charges for real estate commissions, loan payoffs, title insurance, taxes, recording fees, and other costs.
  • Preparing final statements of disposition of all funds.
Key terms and phrases commonly associated with escrow include:

Escrow payment:
Funds that a mortgage servicer withdraws from a borrower's escrow account to pay property taxes and insurance.

Escrow analysis:
A lender's periodic examination of an escrow account to determine if the lender is withholding enough funds from a borrower's monthly mortgage payment to pay for expenses such as property taxes and insurance.

Back-to-back escrow:
Arrangements that an owner makes to oversee the sale of one property and the purchase of another at the same time, also known as a concurrent closing.

Escrow closing:
An escrow closing occurs when all conditions of a real estate transaction are met and the title of the property is transferred to the buyer.

Escrow Company:
A firm that acts as a neutral third party to ensure that all conditions that the buyer, seller, and lender establish in a real estate transaction are met.


Nick Hall
Broker Associate

Coldwell Banker Premier Real Estate
48 South Ocean Avenue
Cayucos, CA 93430
Business Phone: 805-458-4544
Business Fax: 805-995-3657

       

Testimonials

We highly recommend Nick Hall - Nick brought this property to our attention while keeping us abreast of listings in the market that met our criteria. We have been working with Nick for some time and he has been very competent and professional and we highly recommend him. Lane and Sylvia B., San Luis Obispo
Nick has been an exemplary sales associate and satisfied our every need. Mike and Nell L., San Luis Obispo
Nick was wonderful, helpful and attentive to our wishes and very diplomatic and professional when working with others involved in our transaction. Nick was a great advocate and definitely on our side and I think he went the extra mile more than once. Kenneth and Catherine C., Cambria
Nick showed us several properties and found us our home in Avila Beach. He was wonderful to work with and his guidance and thoroughness throughout the sale were exceptional Glenn and Jennifer V., Avila Beach
Nick is excellent at his job! Michael and Dew, San Luis Obispo
We enjoyed working with Nick - he was great! Lee and Christine J., Morro Bay
We were very pleased with Nick who was very thorough and very available. Douglas and Sally P., San Luis Obispo
Nick Hall is outstanding! He made himself available to us for all of our questions, concerns and comments all throughout the time, in a very professional manner.Nick had great suggestions and resources for us to tap into and it was a pleasure to work with him. Keep up the good work and thank you very much for your help and assistance. We cannot say enough good things about working with Nick, we found a friend in him. Nathaniel and Sonia D, San Luis Obispo
Nick's communication was excellent and he was very helpful to us. Esteban and Stella E, Cambria
We found Nick on the Internet and he was great to work with, low key and no pressure. Dennis and Judy P, Morro Bay
Nick was fantastic to work with and represents his firm with excellence. He quickly understood our wants and needs and represented us well and we would choose him again as our agent in the future. Andrew and Cheryl H, Templeton
Nick was very helpful and excellent to work with and handled everything for us. Dominic and Maura G, San Simeon
Nick was very personable, efficient and professional to work with and we were very pleased with his representation. Mervin and Patricia S, Los Osos
Nick was outstanding - professional, knowledgeable and courteous and never pushy and we were very satisfied and would choose Nick again. Claude and Cheryl C, Cambria
Nick was very accommodating and friendly and went above and beyond the call of duty. How do you improve on perfection? Rowena L, Cambria
Nick has been a wonderful agent and always in our corner in negotiations and although others in our transactions were difficult to do business with Nick dealt with them very well to our advantage and we would definitely choose him as our agent in the future. John and Helene Z, San Luis Obispo
Nick thank you for a smooth transaction, it was a pleasure working with you and I look forward to doing business with you again in the future. Narlene C, San Luis Obispo
Nick was very professional and thorough and provided excellent service. James and Barbara Q, San Luis Obispo
Nick was extremely helpful, communicating many times each day throughout and was very reliable in every way. He is a true man of integrity, very rare in the business world today. We have appreciated him and will call on him when we sell. Michael and Joy P, San Luis Obispo
Nick's advice and service were excellent and we would choose him again in the future. Tim and Marguerite B, San Luis Obispo
Nick is a fine person and agent and always low key. Richard and Marguerite P, Atascadero
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