We offer the flexibility of choosing between a Collection Account or an Escrow Collection Account.

Both accounts offer a fully automated system which, for the basic annual fee, includes:

• Payment coupons
• Year end history statements for both buyer and seller
• Seller receipt
• 1098 and 1099 tax reporting

For those clients wishing to make payments through automatic funds withdrawal, handling of automatic funds transfer is available for an additional fee. Automatic funds deposits are included in the basic fee.

Other options available are:

• Payments receipts to the purchaser
• Multiple disbursements for sellers

In addition, all Escrow Pacific, LLC clients now have the option of establishing a separate account, called a Reserve Account, in order to pay their taxes, insurance, and or assessments. With a Reserve Account, the parties can elect to have Escrow Pacific, LLC collect a portion of their taxes (real or personal) and, insurance assessments with each payment made. We then pay these items as they come due on an annual or semiannual basis. This assures both parties that taxes, insurance and/or assessments are paid when due and kept current.

Escrow Pacific, LLC also offers automated funds transfers for those clients that prefer an easy electronic transfer of funds to their accounts along with easy online account access.

Escrow Collection Account
This account is known as a true escrow. With this type of account, we hold all original documents as well as the documents to either convey title or release the security document.

An Escrow Account is designed to survive death, and incapacity. Its structure protects the title and allows payoff to be completed without any additional requirements of the buyer or seller. Back to top

Collection Account
We hold only copies of the title documents.