State Title Escrow, Services Inc. proudly offers complete escrow service for every real estate transaction. In addition to residential escrow, commercial escrow, and business / bulk sale escrow, we offer loan escrow, tract escrow, liquor license transfer, transaction coordinating, and notary services. Every service we offer is aimed at one thing: providing you, our clients, with a performance-driven, quality experience. Read more to see how we can further assist your real estate needs.
Loan Escrow Services
Full service escrow for over 24 years and counting. Our experienced Escrow Officers have an intricate understanding of residential and commercial real estate escrow in addition to business opportunity and specialized escrow.
Upon qualification, property owners can work directly with lenders to change the terms of their existing mortgage loans. If they replace their loan with a new loan, it is called refinancing. If they keep their original loan and take out an additional loan, it is referred to as a second, third, or fourth mortgage, and so on.
Borrowers may choose to use the equity in their home to take out additional money for consolidating debt, home improvement projects, large purchases, or other reasons.
Whenever a home loan is modified, the lender works directly with an escrow company which ensures everything after the financing portion of the loan is completed and recorded accurately.
Your escrow company will work with the lender and the title company to ensure taxes and fees are paid and up to date, that title is recorded according to the terms of the loan, and that all money going between vendors, financial institutions, lien holders, and borrowers is dispersed accurately.
Loan Escrow
A loan escrow is utilized when the property owner elects to borrow money using the property as security for the note. In this instance, the borrower will maintain the terms of the original mortgage and work with a lender to use the equity in their property for an additional loan. The deed of trust secures the note, in turn when recorded, produces a lien on the real property. Second or third mortgages usually carry a higher interest rate than the first mortgage.
Refinance Escrow
If a property owner wishes to refinance their loan, they will work with a lender to replace their existing mortgage with a new mortgage. This is generally a popular option when mortgage interest rates drop below the rate of the existing loan. At the time of refinancing, a property owner may choose to borrow additional money if there is equity in the property. They may also choose to consolidate liens, bring in some of their own money to pay the loan down, or keep the loan amount the same.
The Loan and Refinance Escrow Process
State Title Escrow, Services Inc. will draft escrow instructions according to the terms set between the borrower and the lender. We then work with the title company to ensure loan terms are satisfied, title is cleared and ready to record, and all money is disbursed to the correct parties in the correct amounts.
In short, once your loan is approved, State Title Escrow, Services Inc. manages the remaining series of transactions needed to ensure the funding of the loan.
State Title Escrow, Services Inc. has a history of over 24 years working closely with lenders and borrowers in home loan and refinance escrow. We carefully manage the escrow transaction as a neutral third party, safeguarding funds, and ensuring every client’s transaction is completed in an efficient and secure manner.
For more information on loan or refinance escrow, contact one of our escrow officers today.
For more information on refinancing your mortgage, visit:
Mortgage Calculator - Beginners Guide To Refinancing Your Mortgage
Escrow Service for Tract Housing and Tract Homes in Ohio CA
State Title Escrow, Services Inc. Ohio, CA. Our officers are experienced in tract escrow, ensuring a smooth and reliable experience for the builder and buyer.
Tract Escrow
Tract escrows involve a builder as a seller and the buyers. The main difference between these transactions and other residential sales is the expertise and staff capability of State Title Escrow, Services Inc. to close many escrows simultaneously. Despite the long-time-working relationship State Title Escrow, Services Inc. has with many builders, the company is scrupulous in its role of neutral third party as it complies with the instructions agreed upon by both the Seller and the Buyer.
Escrow Service Liquor License / ABC License Transfer Ohio
Buying or selling a business with an ABC / liquor license? We can help. Contact one of our Escrow Officers to help with your ABC or liquor license transfer.
Liquor License Transfer
A liquor license transfer is allowed by the Ohio Department of Alcoholic Beverage Control (ABC) when a business with an existing liquor license sells or changes ownership.
There are two main categories of a liquor license:
•On-Sale (sold and consumed on premises) such as bars and restaurants
•Off-Sale (sold and not consumed on premises) such as grocery stores, liquor stores, and mini marts
Some establishments, such as breweries and grocery stores with dine-in services, do both On-Sale and Off-Sale transactions and require both licenses.
Both On-Sale and Off-Sale license transfers require the opening of escrow and execution of escrow instructions reflecting an allocated purchase price and terms of the license being transferred.
The Transfer Process:
To initiate the transfer, the seller must contact ABC to complete paperwork pertaining to the future sale.
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The buyer must contact ABC to apply for the license transfer.
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A Notice of Intended Transfer of Liquor License must be published and recorded.
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Additionally, a dated Notice of Intended Transfer of Liquor License must be posted to the storefront in order to allow neighbors and community members the opportunity to contest the license transfer.
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The remaining steps to complete the transfer are handled by your escrow officer as part of your business/bulk sale escrow.
While escrow is being processed, ABC will review the license transfer application and determine whether the liquor license transfer is approved. Most investigations through the Department of Alcoholic Beverage Control take approximately 45-50 days and by law, the license cannot be issued for a minimum of 30 days. Once the approval is received, escrow is ready to close.
Real Estate Transaction Coordinating, Escrow Service, Ohio
We offer Full Service Escrow with personal and friendly Transaction Coordinators to help your escrow run seamlessly. Serving the Ohio Real Estate community since 1997.
Transaction Coordinating
Transaction coordinators are trained real estate professionals designated to assisting agents with the management of real estate files.
A transaction coordinator will ensure that paperwork, including Purchase Agreements and Seller’s Disclosures, are filled out correctly and that contractual items are completed on time.
Transaction coordinators have an in-depth understanding of the real estate and escrow process and work alongside the agent and all parties involved to ensure the transaction closes as quickly and efficiently as possible.
As part of our complete escrow service, State Title Escrow, Services Inc. offers transaction coordinating to agents at a nominal fee.
The service was brought to our platform in 2005. With this service real estate agents can spend more time in the field earning new business, and less time, perusing files. Since our transaction coordinators work on a fee and are not commission-based, they continue to provide service as a truly neutral third party, happily answering any questions, managing deadlines, and keeping the file on track for an expeditious closing.
Tasks a transaction coordinator will manage include:
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Review Purchase Agreement and Open Escrow
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Schedule and Coordinate Vendor Services
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Send and Receive Documents, Obtain Signatures
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Track Deadlines – Manage Contingencies and Due Dates
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For more information on transaction coordinating, contact: Richard today.
Real Estate Notary Services in Ohio, Full Service Escrow
Our Licensed Notaries are experienced, knowledgeable, and ready to help you with your real estate transactions. Independent Escrow Company in Ohio.
Notary Services
State Title Escrow, Services Inc. offers notary services for both its escrow clientele and the general public. Appointments for notarizing your escrow documents will be made directly with your escrow officer as you navigate the process together.
Documents you might expect to be notarized in the escrow process include:
• Grant Deed
• Deed of Trust
• Quitclaim Deed
• Power of Attorney (POA)
• Certification of Trust
• Affidavits i.e. Signature Name Affidavit, Owners Affidavit, Affidavit of Death
• Other lender required documents
• Substitution of Trustee and Full Reconveyance
We accept outside appointments and walk-ins for notary services for the general public.
Schedule an Appointment for Notary Service
To schedule an appointment for notary service, please call us at: (440) 853-4247.
Please bring with you a valid, current photo ID, such as a State Driver License, REAL ID, military ID or US Passport.
Please note: some lender documents will require two forms of photo identification.
For more information about notary, visit: National Notary Association - Notary 101