The Fund Escrow Operations provides its Members comprehensive services for various aspects of your real estate practices.
WHAT WE OFFER:
The Fund's staff can function as a project's construction management department from the moment financing is arranged and the mortgage is recorded. This includes offering a full spectrum of Construction Loan Services, including day-to-day management of the title and financial details of virtually any project.
As an independent and neutral third party, we provide Escrow and Disbursing Services for the entire life of the loan, including:
Prepare funds, receive and examine construction documentation
Review requisitions and waivers of lien, and monitor the names of parties filing Notices to Owner
Update the title search and issue disbursement endorsements
We assist lenders in determining that the contractor and all other parties furnishing labor, materials, and services are being paid in a timely manner - ensuring that no liens are placed against the property during construction.
1031 Exchange Program
The 1031 Exchange Program is for Members whose clients wish to take advantage of tax-deferred real estate exchanges under Section 1031 of the IRS Code. The program uses an independent corporate intermediary, through Florida Exchange, to provide structure for the transaction under the IRS safe harbor. The service works especially well in large transactions where the tax savings are most significant: commercial deals of $1 million or more - though deals under $1 million can be handled as well. Section 1031 applies to all property used in a trade or business or property held for investment. Raw land can be exchanged for an office building, apartments for commercial properties, retail properties for raw land -- any combination works.
The Fund provides Escrow Services that meet our Members' needs for an escrow depository, with the following advantages:
An independent and neutral third party
Financial security and responsibility
Protection from high-risk exposure
Convenience of location of facilities
For more information, please contact Escrow Operations Department, or call (800) 929-5791.