IN-HOUSE ESCROW

Associates who are listing properties are  to use our in-house escrow once they have an executed contract.  Broker permission needed if Buying Associates can also encourage seller/s to use our in-house escrow.  The benefits of using an in-house escrow include:-

 

a) Transaction TC/Compliance fee of $99 waived  

b) Getting paid faster, direct and in time

c) More efficient documentation workflow and faster closing

d) Good service guarantee

e) Broker leads for future transactions

f) Viewed as a Team Player for our firm

Stanford Raffles Realty makes money from Escrow and not from commissions.   So associates should not be giving escrows away just because it costs them nothing to do so.

 

ESCROW OPENING PROCEDURE:

  1. Complete Report of Sale

  2. Upload RPA and SCO to Intranet.

  3. Buyer will receive wiring instructions

  4. Escrow officer will proceed to open file and then process the file until funding and completion.

  5. Escrow officer email is escrow@StanflesRealty.com or as below.

ESCROW OFFICER

Robin Barnes

Robin.Barnes@StanflesRealty.com

Tel:    1-310-525-0933

Fax:   1-310-905-3101

 

ESCROW ADDRESS AND OFFICE

 

All checks are to be made payable to

Stanford Raffles Escrow

(ACCT: 674022891)

 

CHECK AND DOCUMENTS Mailing Address:-

 

STANFLES Escrow A Non Independent Broker Escrow 

4630 Campus Drive Unit 205

Newport Beach CA 92660

USA

 

Documents for closing however can be signed at any of our offices via mobile notary or Escrow Officer.

 

ESCROW FEES:

Our fees are competitively priced to the region and market.

PRICE SHEET

 

BUYER 

Base rate $400 (Negotiated = $250)

Rack Rate per $1000=$3.50  (Negotiated=$2.50)

Loan Tie in Fee=$275

Electronic doc Fee=$50

Doc processing fee=$150

 

SELLER

Base rate $400 (Negotiated = $250)

Rack Rate per $1000=$3.50 (Negotiated=$2.50)

Doc Preparation Fee=$150

Demand Fee=$100

Wire Fee=$30

 

Cancellation Fee is $400 prior to close

Cancellation is $200 if Contingency is not Released

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