Community Escrow Services Reviews (%countItem)
Community Escrow Services Rating
Address: 14634 Whittier Blvd STE B, Whittier, California, United States, 90605-1795
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This Escrow Company (Community Escrow Services in Whittier, CA) is owned by husband and wife *** and ***. *** is also the seller's agent for Property address 7 Windward Way Buena Park, CA. We were in escrow as the buyers for this property. The property had structural termite damage and we decided to cancel escrow due to a bad termite inspection report. This is every homebuyer's right to cancel escrow if the property inspection does not pass muster.
The realtor *** (seller's agent) chose his own Escrow Company (Community Escrow Services, Whittier, CA) and is illegally withholding our initial deposit in the amount of $***.
This is the most corrupt realtor and escrow company I have ever encountered. How can a realtor use his own escrow company to hold the buyer's money? Escrow companies are supposed to be unbiased and as just and right as a national bank. They hold large amounts of the buyer's money. This must be an illegal practice.
Product_Or_Service: Escrow Services for potential home purchase
Order_Number: #***
Account_Number: #
Refund ***, of Community Escrow Services in Whittier CA should refund all our initial deposit in the amount of $***.
Unfortunately, this escrow cancelled. If both buyer and seller agree as to who gets the earnest money deposit, then escrow will immediately release those funds once receiving a copy of the signed agreement. In this case both the buyer and seller requested that the earnest money deposit be released to them. That means that escrow has conflicting instructions. When escrow has conflicting instructions, escrow is obligated to hold unto the funds until either an agreement is reached between the two parties or escrow receives a ruling by a judge as to who will receive the earnest money deposit that was put into escrow. This was explained many times to this buyer but did not seem to understand what we were trying to tell her. This case is going through mediation and hopefully there will be a resolution soon. There was no mistreatment or bias on the part of escrow. Escrow has two different parties asking for the same funds and until we have mutually agreed upon instructions, escrow has no choice but to hold the funds until an agreement is reached.
Community Escrow Services is an Independent Escrow Company licensed under the Department of Business Oversight. We are completely neutral no matter who the parties are to the transaction. There was no bias or mistreatment of this buyer by the escrow company.
Business supplied email:
(The consumer indicated he/she DID NOT accept the response from the business.)
*** is also one of owner of the community escrow services. According to his text to buyer's agent " they are going to have a fight. At least from me". I sent a cancellation form to be signed by seller to escrow again however I am not sure it has been reached to the seller.
I had submitted a response on March 20th, but it doesn't look like it went through. I'm very sorry that the buyer thinks that escrow is taking sides. Escrow takes instructions only and if both parties do not agree, then escrow, BY LAW, must hold unto the funds until either the parties agree or there is a ruling by an arbitrator or a judge. The issue of who gets back the earnest money deposit is a matter of negotiation between the buyer and seller and escrow, BY LAW, cannot make that determination. The seller asked for the money as well, but escrow could not give to the seller either because both sides are not in agreement. So there is nothing escrow can do until an agreement or judgment is reached.
(The consumer indicated he/she DID NOT accept the response from the business.)
This is a quote taken word for word from the statement written by *** (wife of *** who is also the seller's real estate agent):
"We are completely neutral no matter who the parties are to the transaction. There was no bias or mistreatment of this buyer by the escrow company."
An escrow company is supposed to be a third party to be neutral to both parties of a real estate transaction. If the real estate agent has interest in the escrow company that is used for the real estate transaction, THAT INFORMATION NEEDS TO BE DISCLOSED, BY LAW. This information was not disclosed. If the real estate agent has interest in the escrow company that is holding the buyer's earnest deposit, that is NOT considered a TRUE THIRD PARTY. They are not neutral, BUT THEY ARE BIASED. We have been using a mediator to try to get OUR money back, but COMMUNITY ESCROW SERVICES HAS NOT BEEN RESPONSIVE AND HAS MADE THIS REAL ESTATE TRANSACTION A HOSTAGE SITUATION OF OUR FUNDS. Their behavior is unethical and UNLAWFUL.