Escrow of the West

Southern California’s Leading Escrow Company

Homeowners & Buyers

Read Our 10 Tips To Protect Yourself From Cybercriminals.

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Wire fraud is one of the fastest growing cybercrimes in the United States.

An emerging financial cyber threat called business e-mail compromise (BEC) is a multifaceted global fraud scheme that targets businesses and their clients. Highly sophisticated techniques include spear-phishing, social engineering, e-mail spoofing, identity theft, and the use of malware. Cybercriminals forge the identity of a company or an employee or person you know. The cybercriminal will send you an email with new wire instructions to the criminal’s bank account. [Read more…] about Read Our 10 Tips To Protect Yourself From Cybercriminals.

How to Hold Title: A Brief Guide to Property Ownership in California

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Title is the concept we use in real estate to define the actual ownership rights that someone has to a property.

California offers different options for title ownership, each of which has significant and different tax and legal consequences. Before you close, you should determine which form of title will be optimal for you and those closest to you. Here’s our quick guide to each form of holding title in California.

Download our quick guide to holding title and property ownership in CA.

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Understanding Your Deed: The Grant Deed, The Quitclaim Deed, and Interspousal Deed

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A deed is a legal document that transfers title to a new holder of a property. The deed is the vehicle for transferring a title, but is not the title itself. The signing of a deed must be notarized and filed in the public record in order to make the document binding in the court of law.

Your escrow officer will help you determine which type of deed to file. The information below outlines the specifications of each. [Read more…] about Understanding Your Deed: The Grant Deed, The Quitclaim Deed, and Interspousal Deed

Buying or Selling Real Estate? Know the California Property Tax Calendar

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Property taxes are assessed in California on an annual basis. Late fees can add up quickly, and, in a worst-case scenario, could eventually culminate in a lien on your property.

Paying your property taxes is a straightforward process, if you know when each step will occur. One of the first things you want to do when you enter into a real estate transaction–as either buyer or seller–is to know the property tax schedule so that you stay current on your payment.

Download a free California Property Tax calendar, so you’ll never miss a deadline.

What are the Important Dates for California Property Taxes?

The California state property tax fiscal year begins on July 1st. Owners receive a notice of their home’s assessed value by the end of July; the official bill is mailed the week of October 1st.

Property owners are permitted to pay their property taxes in two equal installments. Taxes for the months of July through December are due November 1st, with a late fee of 10% added if your payment is not postmarked by December 10th.

California Property Tax calendar 3Then, taxes for January through June are due by February 1st, with a late fee of 10% plus $10 added if you haven’t paid by April 10th. Of course, you can also simply pay your entire bill in one installment if you choose.

There are a few exemptions for homeowners, veterans, and senior citizens that can reduce property taxes; exemptions must be filed annually by April 15.

Stay Up To Date To Avoid Fees With A California Property Tax Calendar

Finally– and this is what you want to avoid–if you haven’t paid your property taxes by June 8th, your name is added to the delinquent taxes list. Once your name is on the list, you still have a small window to pay your property tax bill, albeit with penalty fees, but at least you won’t be considered in default of paying your taxes.

If your payment is not received by the end of the fiscal year (June 30th), you’ll be officially delinquent and charged an additional fee of 1.5% per month, plus $15. Delinquency fees can add up quickly, and being on this list can also affect your credit rating.

Download a free California Property Tax calendar, so you’ll never miss a deadline.

At Escrow of the West, we take pride in keeping buyers, sellers, and realtors up-to-date on California real estate trends and regulations. Our superior customer service and knowledgeable staff are what makes us one of the leading escrow providers for homeowners and real estate professionals in Southern California.

Meet our team of escrow officers or call 866-444-5560 to speak to a representative today.

Thinking About New Construction? Here are 6 Tips for Buyers, Investors and Agents

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Thinking about buying a brand-new home? You’re not alone.

According to a joint report by the U.S. Census Bureau and U.S. Department of Housing and Urban Development, about 608,000 newly constructed homes were sold in 2017. This is an 8.3% increase from 2016’s figure of 561,000.

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