Escrow

What is escrow?

Escrow is at the hub of a wheel that brings all parties together in the transaction. Ho‘okele Title & Escrow is a neutral third party that holds all the money, contracts and, legal documents until the parties are ready to close the transaction. Our team is an essential partner who intermediates this complicated financial transaction, acting as a “clearinghouse” for the receipt, exchange and, distribution of the items needed to transfer or finance real estate.

Title insurance

For a one-time fee, title insurance protects real estate owners and lenders against property loss or damage they might experience because of liens, encumbrances, or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions, and exclusions. Title defects can be serious, time-consuming, and expensive and can even result in loss of ownership. If you have title insurance, your insurer will pay for defending against an attack on title as the insured and will either perfect the title or pay valid claims, all for a one-time charge at closing.

Have questions? Real 1031 Services offers complimentary consultations. If you are planning to sell real estate investment property and would like to defer potential capital gains and tax, you should consider the benefits of participating in a tax-deferred 1031 exchange. View the FAQs to learn more about the 1031 exchange process.

Property Profile Reports

Property profile reports are essential to the title and escrow process. These reports provide a record of full ownership of a specific parcel of land, showing the liens and encumbrances. It is important that a review is conducted so all parties are aware of any limitations to the property prior to the commitment of buying.