Own Your Own (OYO) Escrow Services | Bayside Escrow

Own Your Owns (OYO) Escrow Services

Own Your Owns (OYO) Escrow Services

Own-your-owns (OYOs) are common in many areas of Southern California and are similar to condos in ownership as both have simple ownership with individual tax bills and deeds. OYOs are unique, however, as they are a pre-condominium form of ownership and most were built in the 1950's. OYOs usually sell for less than condos and they are sometimes candidates for condo conversion, in which case they can increase in value drastically.


One of the greatest disadvantages to buying an own-your-own is the very limited sources of financing, with strict requirements.


At Bayside Escrow, our escrow officers have a great deal of experience managing OYO escrow transactions. Given the complexity of these unique and uncommon transactions, it is important to work with an escrow company with the experience and knowledge necessary to ensure the transaction closes on time.

Own Your Own Escrow
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Bayside Escrow Services Own Your Own


Our own-your-own escrow services include by:


  • Providing full management and action as a neutral third-party to close the real estate transaction within the guidelines set forth in the contract while serving as the depository of funds and closing costs
  • Responding to all communications in a timely manner
  • Keeping all involved parties informed of the escrow progress every step of the way
  • Following mutual instructions expeditiously
  • Preparing escrow instructions and ensuring all documents are executed properly
  • Issuing receipts for deposits of funds in the trust account
  • Handling of loan documents and instructions from the new lender
  • Coordinating the services of a notary public
  • Ensuring proper proration and adjustment of taxes, HOA dues, etc.
  • Preparing and sending out the estimated and final settlement statements and HUD-1
  • Instructing the Title Company to record documents, such as the Grant Deed and Deed of Trust
  • Disbursing funds to proper parties and closing escrow, as authorized
  • Maintaining security and accountability of funds due to principals by providing several disbursement options
  • Closing escrow in accordance with mutually agreed written terms
  • Ordering all applicable reports and disclosures, such as the preliminary title report and HOA documents
  • Complying with city, state, and federal guidelines as applicable to the subject property
  • Obtaining approval of documents and reports from all parties
  • Securing payoff demands or beneficiary statements from existing lenders
  • Acquiring necessary documentation to clear outstanding liens attached to the property
  • Requesting demands conveyances of mortgages or the deed of trust to be paid off in escrow


Closing escrow on OYO transactions in California can be both complex and time-consuming without the right team of experts on your side, and there are very specific requirements that must be met. Count on Bayside Escrow for a simple, streamlined escrow process with superb customer service that guarantees every party involved has confidence in the escrow proceedings.