An Independent Escrow Company Serving the South Bay Since 1991.
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    WHY CHOOSE US?  
As an independent escrow company, Palm West Escrow offers a number of advantages compared to other escrow companies. Because Palm West Escrow is an impartial third party, we are able to provide the highest level of integrity and service in fairly representing the interests of all parties involved in the real estate transaction.

Below is an overview of some of the major differences between independent escrow companies and other types of escrow companies.
 

Independent
Escrow
Companies

Real Estate
Broker-Owned
Escrow
Departments
Title Company
Escrow
Departments
Bank
Escrow
Departments
Savings &
Loan Escrow
Departments
Assumed Impartial as a Third Party YES No
(Escrow Officer is an employee of Broker, who has influence over the transaction)
No
(Title Dept. has access/control of escrow money and procedures)
Yes
(Unless financing is provided by the bank)
Yes
(Unless financing is provided by the S&L)
Escrow License Required Yes No No No No
Trust Funds Insured Yes
($5,000,000 Escrow Agents Fidelity Corp. (E.A.F.C) covers all Licensed Escrow Corporations)
Yes
(D.R.W. Recovery Funds: max $20,000 per individual)
No No No
Bonding Required Yes No No No No

Manager Escrow Experience Requirements

5 yrs E.O. Experience or 4 yrs E.O + Escrow Schooling No No No No
Dept of Justice Investigation of all employees, including photos and fingerprints Yes No No No No
Escrow Officer Certification Available to any individual who is a member of the California Escrow Association
Financial Liquidity Requirements Yes No No No No
Regulatory Audits Yes (Every 12-24 Months by the D.O.C. without any prior notice) NO
(D.R.E Auditors go out by appointment only)
Internal audits at employer's discretion.
Annual CPA Audit Required Yes No No No No
State Regulators Department of Corporations (DOC) Department of Real Estate (DRE) Department of Insurance (DOI) Federal Deposit Insurance Corporation (FDIC)
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