REO and Escrow Services
When a bank or lender forecloses on property and takes control of it, it is termed REO property, or 'real estate owned'. Generally, this term is used after the bank attempts and fails to sell the property at auction. Therefore, an REO is a property that is owned by a bank, and typically, these properties are sold at a significant discount in comparison to market value. They also, however, may not be in superior condition because they are sold "as-is" without any of the "make-ready" that most sellers will do to prepare their own properties to list on the market. At Boulevard Escrow, we understand the nuances and challenges that you may face when you are interested in buying an REO property in Southern California, and we are the escrow firm that you want working for you in an REO transaction.
Expertise with California REO Transactions
From the initial stages when the seller files the paperwork with us until the deal closes and title is transferred to the buyer, we will work diligently to serve both parties well in the transaction. We will work to ensure that title is clear despite the recent transfer of title to the lender because of its REO status. We will also clear title objections if they do arise, and we will work diligently so that closing can be completed in a timely manner. Our escrow agents have already assisted with the closing of many REO properties, and we have the experience with REO properties that you are looking for in an escrow agency.
Ready to Be Your Trusted Escrow Partner
While we have specialized experience with REO properties, we also go the extra mile to streamline the closing process for all transactions. For example, we use advanced technology to reduce the risk of criminal activity related to your transaction, such as fraud or identity theft. Plus, our knowledgeable escrow agents strive to keep the lines of communication open from start to finish. We want to be the trusted escrow company you use for all of your transactions. Contact our office for assistance with your REO deal.