Lack of Disclosure and Excessive Holdback of Seller Proceeds
I am a seller who had a very distressing experience with OC Coast Escrow.
On the day of closing, a Labor Commissioner lien of approximately $10,000 was identified. I was not notified of this lien prior to closing and was not given the opportunity to delay or pause the transaction to address it myself. Escrow proceeded to close and informed me only after recording.
Following the close, approximately $25,000 of my proceeds were held, more than double the recorded lien amount without a written demand letter or additional recorded liens. The explanation provided referenced verbal information from someone through a phone call rather than written documentation.
As a seller, having a significant portion of my proceeds withheld without advance notice or clear written authority caused severe financial stress and uncertainty. I would strongly encourage sellers to conduct thorough due diligence before using this escrow company.