Escrow Concepts

Totally agree with the other review — MINUS 5! Yes, Escrow Concepts is a broker-​owned company and the broker incents his agents to use it by paying their transaction coordinator fees. My Buyer’s lender is still trying to get finalized docs to close files and escrow closed almost a month ago. They didn’t follow repeated instructions from the lenders which caused closing delays and getting the final error-​free HUD statement was painful to say the least. Beware and use a reputable escrow company; read those Unilocal reviews — they are a critically important part of the team that works on a real estate transaction. If the auditors visit this one, I’m thinking they’ll find some real issues.

If I could give MINUS 5-​star rating to this company I would, but unfortunately I can’t.
Buyers and Sellers Beware! It is a false advertisement on this company’s web site: they are NOT an independent escrow company. They are Broker Owned escrow company. Huge difference. Check their insurance coverage for one thing… If broker goes insolvent, if things go south, you’d be trying to recover your money through the Recovery fund of BRE (Bureau of Real Estate) which has very little and limited funds and a long waiting period — get in line to get maybe what, 10% of your lost funds.
Another thing about this Escrow Concepts — it was opened/​started just a few months ago: totally disorganized, unprofessional. They never get things in time no matter how many times you write and ask, they just ignore you.
The listing agent (at least the one we dealt with) has not disclosed that the escrow company belongs to his broker: direct conflict of interest — escrow is supposed to be impartial, well, how do you suppose that would happen if something goes wrong in the transaction and that Listing Broker/​Escrow represent the Seller… not so good for your buyer, that’s for sure!
The broker that owns Escrow Concepts does not train his agents — they have no clue that this material fact (Broker owned escrow) has to be disclosed to the Buyer in writing at the time of negotiating of the offer, not just a few days before closing, after the Buyer removed all contingencies and his earnest money deposit is in high risk, like there is nothing to it…
The bottom line: stay away, otherwise you’d be setting yourself and your clients up for a lot of grief, and that is if you are lucky.