ESCROW DEPARTMENT

Ordering Documents

To order a document package for your escrow transaction, please click the button below to visit Homewise:

All Association documents available on Homewise must be ordered through their online service. If you do not see the HOA on their site, you will be able to order directly through the BAPS Escrow dept.

Sales & Re-Finance Transactions

 

When you are selling or refinancing your home, the Title Co./Lender requires BAPS to provide certain escrow information and documents. As with any business transaction, there are fees associated with these services. We have a full department ready to serve your Title Co./Lender but this department has costs such as insurance, office space, employee time, computers & technology, and materials.

 

We have listed some of these services for your information.

  • Disclosing the current assessment rate, reserve funding, and other budgeting information.

  • Providing the escrow company with association insurance information.

  • Reviewing the seller's assessment account and preparing a demand statement for escrow.

  • Purging the Seller's account records and setting up the Buyer's assessment records in our client association's homeowner files once the escrow has closed.

  • Scanning the Grant Deed.

  • Receiving, reviewing, depositing, and posting any association funds that have been collected through the escrow process.

  • Throughout the course of an escrow, there is typically a high level of contact between our Escrow Department and the various agents involved in the transaction (listing agent, selling agent, escrow or title agent, appraiser and lenders). Therefore, we employ a trained professional to field such inquiries as well as perform the various clerical tasks.

  • Additionally, sellers are required to make many disclosures to buyers. We maintain current association documents in order to assist sellers in these duties. When special-case seller disclosures are required, such as those regarding litigation, our efforts ensure that appropriate and current litigation letters are included in the disclosures.

    The Association does not control which party in the escrow process will be responsible for paying the fees.  Responsibility for the transfer fee, along with other transaction fees associated with sales and refi’s, are negotiated between buyer and seller.

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