Frequently Asked Questions

Long-term escrow is a service where a neutral third party (like Sunwest Escrow) manages an ongoing financial relationship between a buyer and seller. Unlike short-term "closing escrow" that lasts a few days or weeks during a real estate closing, long-term escrow can span years, even decades. We accept monthly payments from the buyer, disburse funds to the seller, manage tax and insurance payments, and keep a complete record of the entire transaction. It's especially common in owner-financed real estate transactions in New Mexico.

Closing escrow (what you see in movies when someone says "the money is in escrow") is a short-term holding period during a real estate purchase, typically lasting 30-60 days. Long-term escrow, which is what Sunwest Escrow specializes in, manages the ongoing payment relationship between buyer and seller for the life of the contract. This can be 5, 10, 20, or even 30 years. We accept monthly payments, handle tax and insurance bill processing, annual 1098 tax forms, and complete record-keeping for the entire duration.

We believe in transparent, upfront pricing. Our fees include a one-time setup fee when your account is created and a monthly servicing fee for ongoing management. We don't hide fees in fine print, and we don't charge surprise "processing fees" after you've signed up. Visit our Pricing page for a detailed breakdown, or contact us for a personalized quote based on your specific transaction.

Your escrow account is accessible 24/7 through our NoteServe online portal. When your account is created, you'll receive a welcome email with your login credentials. Through the portal, you can make payments, view your payment history, download documents, access 1098 tax forms, submit documents, and even chat securely with the other party. If you need help logging in, call us at (505) 237-2225.

If you've received a property tax bill or insurance renewal notice, please submit it to us right away so we can process the payment on time. You have three options: (1) Upload it through the NoteServe portal (fastest method), (2) Email a photo or scan to [email protected] with your account number, or (3) Drop it off at our office at 10600 Menaul Blvd NE, Albuquerque. When in doubt about whether we need to see a bill, send it to us. We'll let you know.

Owner financing (also called seller financing) is when the seller of a property acts as the lender, allowing the buyer to make payments directly to the seller instead of getting a traditional bank mortgage. The buyer and seller agree on terms including price, interest rate, and payment schedule, which are documented in a real estate contract. An escrow company like Sunwest Escrow then manages the monthly payments and protects both parties throughout the life of the contract.

While it's not legally required in New Mexico, using an escrow company for owner financing is strongly recommended. Without a neutral third party, both buyer and seller are exposed to significant risk. The buyer has no proof that payments were received and properly applied. The seller has no guarantee of timely payments. And neither party has a reliable record if a dispute arises. Sunwest Escrow creates trust between strangers by providing verified, third-party documentation of every transaction.

We offer several convenient payment options: (1) Online through the NoteServe portal (available 24/7), (2) Mail a check to Sunwest Escrow, P.O. Box 36371, Albuquerque, NM 87176, (3) Drop off at our office at 10600 Menaul Blvd NE (24/7 drop box available), or (4) Call our office during business hours at (505) 237-2225 for phone payment assistance.

Your 1098 tax form is automatically generated and made available through the NoteServe portal each year. No more waiting for it in the mail. You can access it instantly as soon as it's ready. Simply log in to your NoteServe account and navigate to your tax documents section.

Disputes happen, and we're here to help. Sunwest Escrow offers professional mediation services to help resolve disagreements between buyers and sellers. Mediation is faster, cheaper, and more private than going to court. Most disputes are resolved in just one or two sessions. Visit our Mediation Services page or call (505) 237-2225 to learn more.

Sunwest Escrow serves the entire state of New Mexico, with our office located in Albuquerque. We work with clients in Albuquerque, Rio Rancho, Santa Fe, Las Cruces, Roswell, and all other New Mexico communities. Our NoteServe online portal means you can manage your account from anywhere, regardless of where you're located.

You can request a payoff statement directly through the NoteServe portal. Just click the "Request Payoff" button in your account dashboard. You can also call us at (505) 237-2225 or email [email protected] with your account number. We'll calculate your exact payoff amount including any remaining balance, accrued interest, and applicable fees.