Our Services
Residential Resales
A residential real estate sale refers to the transaction in which a residential property, such as a house, apartment, condominium, or townhouse, is transferred from a seller to a buyer. Every transaction is unique and requires a dedicated team of escrow professionals.
New Construction
A new construction sale refers to the transaction in which a newly built residential or commercial property is transferred from a builder or developer to the first owner. Unlike resale properties, these buildings have not been previously occupied.
Commercial / Gas Stations
A commercial sale refers to the transaction in which a commercial property, such as an office building, retail space, warehouse, or industrial facility, is transferred from a seller to a buyer. Unlike residential sales, commercial sales often involve properties zoned for business use or income generation.
Refinance
Refinancing refers to replacing an existing mortgage with a new one, often to secure better loan terms like a lower interest rate or a different loan duration. In this process, the original loan is paid off using the new loan. The role of escrow is to manage and ensure the smooth transition between these loans, overseeing document signings, fee settlements, and the correct processing of payments.
Manufactured / Mobile Homes
A manufactured home sale involves the transaction of a prefabricated dwelling built in a factory setting and then transported to its desired location, rather than being constructed on-site. These homes, commonly known as mobile or modular homes, have specific ownership and financing requirements.
Bulk Sale (Business Sales)
A bulk sale, often associated with business sales, refers to the transfer of a substantial portion or all of a business’s inventory, assets, and/or merchandise to a buyer in a single transaction. Escrow services ensure the secure handling and proper allocation of funds, inventory, and assets.
For Sale By Owner (FSBO)
FSBO refers to a property being sold directly by the owner without the representation of a real estate broker. Our services cater to FSBO transactions by ensuring secure fund transfers, accurate documentation, and a smooth closing process, providing peace of mind to both sellers and buyers navigating the sale.
1031 Exchanges
A 1031 Exchange, named after Section 1031 of the U.S. Internal Revenue Code, allows property owners to defer capital gains taxes by exchanging one investment property for another of “like-kind.” This strategy facilitates the rollover of potential tax liabilities into a new purchase, promoting continued investment in real estate. We streamline these exchanges, ensuring all stipulated requirements are met, safeguarding funds, and providing a seamless transition between properties while adhering to the strict timelines set by the IRS.
Short Sales
A short sale occurs when a homeowner sells their property for less than the outstanding mortgage balance, typically due to financial hardship. With the lender’s approval, the sale proceeds go towards repaying a portion of the mortgage. We facilitate short sales by managing the complex documentation and fund transfers, ensuring that all parties involved – the seller, buyer, and lender – navigate the process efficiently and with clarity.
Probate Sales
A probate sale occurs when a property is sold from an estate after the owner’s passing under the guidance of a probate court. Typically initiated when the deceased did not leave a will or specific property directives, these sales ensure assets are distributed according to legal mandates. Citizens Escrow simplifies the intricacies of probate sales, handling documentation, and ensuring secure fund transfers while aiding all parties in navigating this sensitive transaction process.
Real Estate Owned (REO) Properties
An REO property is a real estate asset that has reverted to the mortgage lender after the home fails to sell in a foreclosure auction. Essentially, the bank or the lending institution now owns the property. We handle REO transactions with precision, facilitating the documentation and fund transfers and ensuring that buyers and financial institutions seamlessly navigate the acquisition or sale of these lender-owned properties.
Seller Carry-Backs
A Seller Carry-Back, also known as seller financing or owner financing, occurs when the seller acts as the lender for a portion or the entirety of a property sale. Instead of obtaining funds from a traditional lender, the buyer agrees to a promissory note detailing the interest rate, repayment schedule, and consequences of default directly with the seller. We expertly navigate Seller Carry-Back transactions, managing documentation and structuring secure terms, ensuring buyers and sellers confidently move forward in their agreement.
Vacant Land Sales
A vacant lot sale involves the transaction of a parcel of land that doesn’t contain any built structures or facilities. We facilitate vacant lot sales by handling all necessary documentation, ensuring secure fund transfers, and providing a transparent process for both buyers and sellers, paving the way for potential future developments on the acquired land.
Off Market Sales
An off-market sale is a property transaction that occurs without the property being publicly advertised or listed on the Multiple Listing Service (MLS). Often sought for privacy or expediency, these sales are conducted directly between the buyer and seller, or through limited networks. Citizens Escrow specializes in managing off-market sales, ensuring confidentiality, accurate documentation, and secure fund transfers, providing both parties with a seamless and discreet transaction experience.
Trust Sales
A trust sale arises when a property held in a trust is sold, often due to the terms outlined in the trust or following the passing of the trust’s settlor. This type of sale might be managed by a trustee who acts on behalf of the trust’s beneficiaries. We adeptly handle trust sales, ensuring all legal and beneficiary requirements are met, managing documentation, and facilitating secure fund transfers, all while ensuring a smooth transaction process for all involved parties.