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About Eastland
Escrows, Inc.
A Fine
Reputation
Why You Should Use an Independent Escrow
Company
The Perfect Escrow;
Does It Exist?
Contact Eastland
Escrows, Inc.
About Eastland Escrows,
Inc.
Eastland Escrows is located at 302 E.
Rowland Street in Covina, California just north of
Interstate 10 and five miles south of Interstate 210.
Our phone numbers are 626 331-2225 and 909 597-5333.
Our fax number is 626 967-3500. Our email
address is
docs@eastlandescrows.com.
We are
an independent escrow company whose sole business is
providing complete escrow services for all types of
escrows.
We
are staffed with officers experienced in all types of
escrows and notary publics available on site.
We
have been in business since 1973 and are licensed
under the California Department of Corporations,
license no. 9630467. We also have a Joint Control
Agents License to handle holding and disbursement
escrows.
We are
open daily from 8:30 AM to 5:30 PM Monday through
Friday. Evening and weekend appointments are available.
We are
approved to do Los Angeles County Tax Collectors Probate
transactions.
We
constantly work toward providing our clients with
quality service and to make their escrow transactions
close as smoothly as possible.
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A Fine
Reputation
We pride ourselves in employing
top quality escrow officers, and encourage you to call
upon us for assistance. We work for you, thats how we
built our fine reputation and thats why we're
here.
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Why You Should Use an
Independent Escrow Company
Independent
escrow companies are licensed by the California
Department of Corporations (DOC) in accordance with
the Escrow Law and thereby are authorized to handle
any and all transactions, real estate or personal
property escrows. They are required to post a surety
bond AND to belong to the state mandated Escrow
Agents Fidelity Corporation, which insures and binds
these companies against fraud and embezzlement.
All independent escrow companies are required by law
to be audited by a CPA at least once every year and
are subject to surprise, regulatory audits by the DOC,
at the escrow companys expense, at least once every
24 months. Independent escrow managers are
required to have a minimum of 5 years verifiable
escrow experience and all branch managers a minimum of
4 years experience. All independent escrow personnel
are fingerprinted and must have background checks
completed by the Department of Justice. They must also
be approved by the Escrow Agents Fidelity Corporation
and are then issued a certificate card. Further,
escrow personnel are subject to being barred from
employment and management or ownership of a licensed
escrow company for just cause. These barred
individuals can, however, continue to conduct escrow
services for companies not operating under the California Department of Corporations.
In
conclusion, the basic definition of escrow providers
is a neutral third party who is responsible for seeing that
funds are held in trust until such times as all the
conditions of the purchase contract have been met.
Whether you are a buyer, seller or a real estate
professional, a good question to ask yourself when
selecting an escrow provider is: If, for some
unforeseen reason, this transaction ended up in court,
would the escrow officer truly be able to represent
themselves as a neutral third party when the escrow
officer and one of the real estate representatives
involved were both being paid or employed by the same
broker?
As a consumer, the final and most
important question to ask when selecting an escrow
provider is: In the sale or purchase of my property,
am I getting the best value and service available and
will my money be safe?
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Page
The Perfect Escrow; Does It
Exist?
Perfection is sometimes difficult
to achieve, especially in dealing with the
complexities of the escrow, the desires of the parties
and other matters that are sometimes far beyond the
control of the escrow officer. It is human nature to
err on occasion, but your escrow officer has the
background, training, education, support and systems
in place necessary in order to accomplish the
objectives of the escrow
instructions.
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