Merit Property Management Announces Affiliation with Association Escrow Services, Inc.

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Merit waives property transfer fee and increases timely delivery of HOA transfer packages when homeowner sellers open escrows with Association Escrow Services

Merit Property Management, a FirstService Residential Management company, has announced an affiliation with Association Escrow Services, Inc, a licensed escrow company under Department of Corporations regulatory requirements. As a result of this affiliation, Merit's integrated systems now enable a property transfer fee to be waived for its homeowners and provides a three-day receipt of HOA document packages when an escrow is opened through Association Escrow Services.

The affiliation was developed in response to homeowner sellers in Merit-managed communities who were looking for increased escrow closing efficiency and ways to achieve cost savings during home sales.

"We carefully listened to sellers and now offer a solution that will reduce common frustration involved in closing an escrow," said Bob Cardoza, Chief Executive Officer of Merit. "We believe both home sellers in Merit-managed communities and real estate agents will appreciate the cost savings and expedited delivery of HOA documents we can now deliver."

According to DataQuick, a San Diego firm that tracks real estate trends nationally via public property records, a total of 19,412 new and resale houses and condos were sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in March. That was up 35.1% from 14,369 in February, and down 5.2% from 20,476 in March 2010.

"With this recent uptick in property sales, we want to provide escrow services that get the job done quickly. The number one reason for the delay of an escrow closing is the receipt of the HOA transfer package," said Judy Arthur, Senior Escrow Manager of Association Escrow Services. "I'm thrilled to be affiliated with Merit Property Management to benefit home sellers in today's economic market."

About Merit
Since 1980, Merit has grown to be one of the foremost providers of professional community association services in the Western States. Merit specializes in the forward planning and management of master planned, single family home/condominiums, active adult, and urban high- and mid-rise communities as well as rental property management for investors.

Merit is a subsidiary of FirstService Residential Management (FSR). FSR is the largest manager of residential communities in North America, overseeing more than 5,600 properties and over 1.3 million residential units. FSR is a subsidiary of FirstService Corporation (NASDAQ: FSRV, TSX: FSV), a global leader in the rapidly growing real estate services sector, providing a variety of services in commercial real estate, residential property management and property services. More information about FirstService is available at

About Association Escrow Services, Inc. (AES)
Association Escrow Services is a licensed escrow company regulated by the California Department of Corporations, and insured by The Escrow Agents Fidelity Corporation, both state regulatory entities requiring the highest standard of capitalization, ethics, and qualifications needed to provide escrow services. State of California DOC License No. 963-2664.

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