Multi-unit or multi-family properties have become increasingly popular with real estate investors. While owning a condo or single-family home as a rental property runs the risk of 100% vacancy if the tenant moves out, a multi-family property virtually guarantees there will always be some income. Investors with limited cash or leverage may also find it easier to purchase smaller, multi-unit or multi-family properties or even live in one unit while renting out the others to cover the loan payment.
Multi-Family Escrow Transactions
Choosing the right escrow companyplays an important role in ensuring that your real estate transaction is successful and complete. These multi-unit escrow transactions require a different approach than a regular residential purchase and it is crucial that your escrow officer is well-versed in handling this type of escrow service. At New Era Escrow, our escrow officers have decades of experience handling all types of multi-unit escrow transactions with the experience and dedication necessary to avoid delays.New Era Escrow handles all aspects of multi-unit escrow transactions.
Multi-Unit Escrow Services
Multi-unit and multi-family properties are gaining popularity among real estate investors. Unlike single-family homes or condos that risk complete vacancy when a tenant leaves, multi- family properties practically ensure some form of income. Investors with limited funds or leverage might find it easier to acquire smaller multi-unit properties. They might even live in one unit while renting out the others to offset the loan payment.
Multi-Family Escrow Transactions
Choosing the right escrow company is crucial for a successful real estate transaction. Multi-unit escrow processes differ significantly from regular residential purchases. That’s why it’s essential to have an escrow officer that’s well-versed in this specialized area. At New Era Escrow, our team boasts decades of experience in handling multi- unit transactions, ensuring smooth operations and timely closings.
We will:
Offer escrow management services.
Provide a proactive approach to avoid delays and issues during the escrow process.
Maintain the accountability and security of documents and funds.
Coordinate and respond to all communications.
Execute escrow instructions.
Comply with local, state, and federal regulations.
Keep all parties informed of the escrow progress.
Inform the title company to record documents when needed.
Order reports, disclosures, and documents as needed.
Disperse funds and documents to close escrow as authorized.
Multi-unit and multi-family properties present unique challenges in escrow closing. Trust New Era Escrow’s expertise for diligent and detail- oriented management of your transaction.