A professionally staffed, full service company, Bay Area Escrowis not a department of a title company, bank or savings and loan association, nor are we a real estate broker owned company. Escrow service is our only business!   Compare Licensed Escrow Corporations to Other Escrow Providers and decide for yourself who you would prefer to process your next real estate transaction. We utilize state-of-the-art computerized equipment to process information and transmit data with more accuracy and speed than ever before. When Entering Escrow      Once an agreement has been reached between the seller and potential buyer, it will be time to choose an escrow company. Although there are many qualified escrow companies, a licensed escrow company such as Bay Area Escrow is the best choice for safeguarding funds and ensuring a satisfactory closure to what is often a very complicated transaction. Licensed companies must meet government standards far more stringent than those applied to unlicensed escrow companies. And, unlike other escrow companies, licensed companies must be bonded for their trust fund amount, ensuring that the safety of your funds is guaranteed. Insist on a licensed escrow company. What Can You Expect From Bay Area Escrow      Most real estate transactions in the state of California utilize the services of an escrow company, yet escrow remains one of the least understood elements of the real estate process. It is the primary responsibility of the escrow holder to ensure that all of the necessary instructions in the real estate agreement are executed.      The responsibility to protect the consumers' interests is not taken lightly by Bay Area Escrowwhose escrow officers must remain impartial to ensure fair representation of all parties. It is crucial, then, that the broker, lender or consumer makes a knowledgeable and informed decision when choosing an escrow company. Licensed vs. Controlled Escrow Companies      All escrow companies in California can be classified into two basic categories: Licensed and Controlled. Bay Area Escrow is an independent business licensed by the California Department of Corporations. This license regulates the procedures and practices of the company and subjects us to stringent requirements designed to protect consumers.  Controlled escrow companies, on the other hand, are non-licensed businesses that can be owned by a variety of entities, including real estate brokers, mortgage brokers, banks,  savings and loans, and title insurance companies. Such companies fall under the jurisdiction of a variety of supervising agencies, with regulations and requirements that vary widely. One fact remains constant, however, none of the agencies have regulations as strict as those imposed on the escrow companies licensed by the Department of Corporations. Better Protection      Although the majority of escrow companies are honest and above board, the large sums of money handled by escrow companies could entice unscrupulous individuals to abscond with the funds they are holding in trust. And, unless the escrow companies are bonded, there is often no safeguard assuring the return of the money to the consumers. Bay Area Escrow is a member of the Escrow Agents' Fidelity Corporation, which provides fidelity coverage for member trust accounts in the amount of $5 million. This fidelity bond guarantees that, in the event of theft of trust accounts, the consumers' funds are protected. Higher Standards      The stringent requirements by the Department of Corporations assure that Bay Area Escrow has met the highest standards of the industry.   Consumer protection regulations unique to licensed escrow companies include: A Certification Program for all escrow officers in the company's employ, including fingerprinting and background checks by the Department of Justice. A requirement for an on-site escrow officer with at least five years experience. Financial stability requirements, including a minimum of two audits a year. Prohibition of the employment of convicted felons or anyone who has been disbarred from the escrow industry. Membership with the Escrow Agents' Fidelity Corporation which provides a $5 million fidelity bond.      The bottom line is that Bay Area Escrow is the best possible neutral third party to complete your real estate transaction. Whether searching for an escrow holder for yourself, or looking to recommend one to a client, Bay Area Escrow offers peace of mind. Copyright © 1998 Bay Area Escrow Services. All rights reserved. Unauthorized reproduction is prohibited by law. Trademarks are property of their respective holders. Created by i•Browse, inc. Disclaimer: While Bay Area Escrow Services uses reasonable efforts to include accurate and up-to-date information on this site, no warranties or representations as to its accuracy are made or implied. Neither Bay Area Escrow Services or any of its agencies, nor any other party involved in creating, producing, or delivering the site assume any liability or responsibility for any errors or omissions in the content of this site. Professional legal and income tax counsel is recommended before entering into any contract, including those referenced on this site.