Inside Escrow: Demystifying Real Estate Transactions with Lance Indes
What exactly does an escrow company do during a real estate transaction? Escrow expert Lance Indes joins host Darryl Jones to provide an in-depth look. Lance explains the neutral third-party role escrow plays to facilitate deals and ensure all instructions are properly followed. He covers key topics ranging from earnest money deposits to wire transfer fraud prevention measures. Tune in as Darryl and Lance also discuss earthquake insurance challenges, title issues that can arise, and much more.
Episode Highlights:
- How escrow officers coordinate all the moving pieces and enforce contractual terms
- The importance of escrow's designation and independence for handling any deal type
- Extra verification steps taken to combat wire transfer fraud attempts
- Options when parties no longer agree such as terminating with forfeited deposits
- Typical escrow costs and fees based on purchase price tiers
Key Questions Asked:
- What documents and funds do escrow companies handle during a deal?
- What is the process if a buyer stops responding during escrow?
- How does an escrow company help prevent wire transfer fraud?
- What are common challenges that arise during the escrow process?
- What factors should people consider when selecting an escrow company?
Contact Lance Indes:
Lance Indes - Prominent Escrow Services
Email: lance@prominentescrow.com
Phone: (714) 423-6882
Contact Darryl:
Darryl & JJ Jones Real Estate
Email: darrylandjj@gmail.com
Phone: (714) 713-4663
