Escrow Service In Orange County For Sale

Business description

Strategic Opportunity. Well-known Orange County Independent Escrow Company, in business for over 30 years, is available to purchase. Rarely come on the market. They have a well established loyal following of real estate brokers, agents and owners for single and multi-family residential and commercial escrows. They handle escrows for purchase, exchanges, re-finances and bank owned REO property portfolios.

This is a window to purchase at current business levels and prices before real estate recovers. The upside is substantial. In 2005 they had revenues of over $1.3 million with Seller Discretionary Earnings of just under $600,000. Their books are audited.

Owner is the escrow manager and has two long-time escrow officers each with over 25 years experience as escrow officers. License required by Department of Corporations (DOC) for independent escrow companies. Current owner’s license can be transferred and if buyer does not have the required 5 years of escrow officer experience, one of the current employees would be qualified to apply as Manager.

Owner said that to open a new escrow office has been estimated to run around $125,000 including license, equipment, and other start-up costs. This one comes with $20,000 of FF&E, systems, software, the license and goodwill of valuable relationships already established for three decades.

Owner wants to retire after very successful career. Will stay on to transition relationships and is open to longer term consulting agreement. Spouse is their part-time CFO.

Disclaimer: The information above was furnished by the seller. Sunbelt Business Brokers of Orange Coast or its agents have not verified the information and makes no representations as to its accuracy or reliability.

Property information

Location:

2,100 sq.ft. - rent $4,200. lease expires 2009 - option is negotiable.

Size in square feet:

2,100

Other information

Support & training:

seller will provide training.

Reasons for selling:

retirement.

Furniture / Fixtures value:

$20,000 (included in the asking price)