What We Do
Sunwest Escrow will hold funds, deeds, or other instruments, as well as collect and distribute installment payments.
Sunwest can service contracts such as these:
> Personal loans
> Promissory notes
> Lease agreements
> Installment contracts
For a nominal service fee, Sunwest’s neutral third-party accounting ensures accuracy, reliability, and proper contract administration. Sunwest’s friendly and professional customer service representatives are available by phone to answer payor and recipient questions about payments, disbursements, payoffs, and other contract details.
Why use a real estate contract?
2. The credit history of the purchaser can keep him/her from buying with a conventional, FHA,or VA mortgage.
3. Little or no down payment may reduce the availability of a mortgage.
4. A contract can provide a monthly income for the seller. Further, the interest yield on the purchase price is likely to be higher if paid on a contract than if the purchase price was paid in full and the seller was forced to look to standard banking products for interest income.5. Usually a sale can be closed much more quickly with a contract than with a new mortgage.
6. A contract can be used to finance vacant land that could not otherwise be financed.
Sunwest Escrow will keep original deeds and documents secure.
Upon payoff in full by the purchaser, the warranty deed held in escrow will be released to the purchaser for recording. Should the purchaser fail to meet his/her obligations, the deeds can be returned to the seller, transferring the property back to the seller.
Sunwest Escrow will serve as “bookkeeper” for your transaction. We will:
> Report to the IRS on the purchaser’s behalf as to the amount of interest paid each year
> Provide interest statements to the purchaser
> Automatically withdraw payments from the purchaser’s bank account, if desired
> Make deposits into the seller’s account, if desired
> Ensure that proper credit is given for each payment
> Quickly furnish balance/payment information when needed
Using an escrow agent will also help to minimize the disputes that can arise between purchaser and seller. Acting as a neutral third party, Sunwest Escrow is ready to assist both parties. A variety of optional services are available.