What Are So-Called Escrow Fees?

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If the property, loan money, transaction money or payment money exceeds U.S.$500,000 the escrow fees are set to double the amount on escrow fees or maybe even more.

Needless to say the amount of escrow fees dictates that you need to have at least 5 to 10 times the amount of escrow fees in your transaction amount or loan money before escrow services starts to become practical for both parties.

Usually escrow fees are paid by the buyer who wants security for his/her money before paying a reputable seller or a company for a desired product or service. Usually at rare times, if a seller wants to validate his reputation he volunteers to pay for escrow fees on behalf of the client seeing a repeat order in the near future, could be well worth since he establishes first his reputation, and escrow services for the sake of it's price are only needed when doing initial transaction.

Escrow fees strengthens the legitimacy of the ownership of a property, ability to deliver a product or service free from human error.

Taken from California Association of Realtors, here's a list that proves buyer usually handles the payment of escrow fees:

Alameda
Recording Fees: Buyer
Title Insurance: Buyer
Escrow Fees: Buyer
County Transfer Tax: Seller
City Transfer Tax: Split

Contra Costa
Recording Fees: Buyer
Title Insurance: Buyer
Escrow Fees: Buyer
County Transfer Tax: Seller
City Transfer Tax: Negotiable

Marin
Recording Fees: Buyer
Title Insurance: Buyer
Escrow Fees: Buyer
County Transfer Tax: Seller
City Transfer Tax: Seller

Napa
Recording Fees: Buyer
Title Insurance: Buyer
Escrow Fees: Buyer
County Transfer Tax: Seller
City Transfer Tax:

Sacramento
Recording Fees: Buyer
Title Insurance: Seller
Escrow Fees: Seller or Split
County Transfer Tax: Seller
City Transfer Tax: Split

San Francisco
Recording Fees: Buyer
Title Insurance: Buyer
Escrow Fees: Buyer
County Transfer Tax: Seller
City Transfer Tax:

San Mateo
Recording Fees: Buyer
Title Insurance: Buyer
Escrow Fees: Buyer
County Transfer Tax: Seller
City Transfer Tax: Seller or Split

Santa Clara
Recording Fees: Buyer
Title Insurance: Seller
Escrow Fees: Seller
County Transfer Tax: Seller
City Transfer Tax: Seller or Split

Solano
Recording Fees: Buyer
Title Insurance: Buyer
Escrow Fees: Buyer
County Transfer Tax: Seller
City Transfer Tax: Seller

Sonoma
Recording Fees: Buyer
Title Insurance: Buyer
Escrow Fees: Buyer
County Transfer Tax: Seller
City Transfer Tax: Seller

Yolo
Recording Fees: Seller
Title Insurance: Seller
Escrow Fees: Seller
County Transfer Tax: Seller
City Transfer Tax: Seller

More on their site
http://www.car.org/

Usually the payment of escrow fees are paid before the transaction but if huge money are involved, it is included in the closing transaction fees as well.

 

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