Resources for Brokers and Real Estate Agents
Building The Future Together
Henry Ford once said,
Mason Title & Escrow handles millions of dollars for hundreds of real estate settlements every month, and our primary goal is to preserve the integrity of the escrow accounts, which contains other people’s money, including your money. We have adopted funding practices designed to protect everyone’s money while assuring a smooth closing.
If you are required to bring money to a closing or receive money after a closing, here are our requirements and procedures, designed to further the goals of smooth closings and protecting the money.
- Disbursements cannot occur until all the money necessary to fund the file is in Mason’s escrow account, at a minimum in the form of Good Funds as defined by Florida law.
- Wire Transfer is the preferred method of receiving funds necessary to close. This is the safest way for all parties to transfer funds in the large amounts required. If a wire transfer is not possible, cashiers check will be accepted, upon verification of funds with the issuing bank.
- Personal Checks cannot be accepted except for minimal amounts of $100.00.
- Earnest Money Deposits may be made by our mobile app ZOCCAM, wire transfer, personal or company check. If a personal or company check is used there needs to be sufficient time before the scheduled closing for the check to be “collected” in the account. Allow two weeks between deposit and closing in most cases. For closings occurring sooner than that, please bring cashiers checks, wire the funds, or use our mobile app ZOCCAM.
- Proceeds can be wired. Please ask the closer to do so and provide a voided check or deposit slip, and sign the provided authorization to wire.
- Proceeds cannot be disbursed to third parties. Federal law requires disbursements be made only to the parties on the settlement statement.
These procedures are designed to protect the funds in the escrow accounts of all the parties.
Mason Title & Escrow Company uses one of the most advanced, sophisticated, title & escrow file management systems available–ResWare.
ResWare manages the entire transaction through a single interface and puts the power in the user’s hands, and in the hands of the customers. We count on ResWare for:
- Workflow and Automation Management
- Vendor Management
- Document and Template Management
- Communications Management
- Title Production
Why does this matter to Realtors, Seller, Buyers, Lenders and Brokers?
- Parties to the transaction, when assigned access codes, can log into a customized Web site to view their files, download documents, enter orders online, and correspond with employees. Access continues after the closing, so documents needed later–title policies, settlement statements, surveys–can be retrieved at any time
- Customizable workflow ensures staff consistency, reduces missing information or documentation, improves communication internally and externally, making for smoother and error-free closings
- Communication Management shares information about files across the employee base, making it possible for multiple persons to assist with files if assigned staff are not readily available
- ResWare turns all documents and communications into electronic files, reducing paper and document misplacement, and making those documents readily accessible to all authorized parties.
- Employees communicate quickly and effectively through e-mail, faxes, and the ResWare interface directly from a customer file, and all such communications are logged and preserved.
- Incoming e-mail messages and attachments are automatically locked to a customer file when a valid file number is found in the e-mail’s subject line, making ResWare the central repository for all communications.