Resources For Buyers
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The California Residential Purchase Agreement (California Association of Realtors form RPA-CA) is a standard form purchase contract There were significant changes made in the revised forms released in 11/14 and 12/15 , with changes in language in many paragraphs. Initial Offer: The initial offer that a buyer makes to acquire a property is made on …
Escrow is the process which facilitates the transfer of title, the funding of a new mortgage, the payoff of an existing mortgage, the issuance of new title insurance, the proper payment of all fees and expenses and the proper pro rations between buyer and seller. The escrow agent acts a third party to insure that …
Closing Costs Paid by Either Buyer or Seller: Allocation of costs associated with ownership of the home: These costs include the following: Property Taxes: Property Taxes in California are placed as a lien on a property July 1st of each year, and are for taxes for the period 7/1 through 6/30. These taxes are due …
General Home Inspection: A home inspection, conducted by a professional home inspection company, is a necessity when purchasing a home, town home, or a condo. This inspection provides comfort to the buyer that the home is in generally good condition, and that the home’s main systems are in good operational order, or will disclose to …
It is common for buyers to request that the sellers provide a home warranty. Standard Home Warranty packages includes protection against breakdowns in numerous systems of the home, including the following: Plumbing System, Plumbing Stoppages, Water Heater, Heating System/Heat Pump, Ductwork, Electrical System, Garage Door Opener, Central Vacuum System, Ceiling Fans, Doorbells, Pest Control, Dishwasher, …
Property Taxes in the South Bay of Los Angeles County are computed by the standard 1.0% of the property’s assessed valuation (in accordance with Proposition 13, a property’s assessed valuation is the original purchase price, plus the cost of improvements, based on the value of permits pulled, plus an increase in valuation of 2% per …
CAPITAL GAINS ON SALE OF RESIDENCE: The Federal capital gains rate for long-term (property held for more than 1 year) capital gains for the sale of real estate for most tax payers is 15% (See Capital Gains Rates for a discussion of Federal capital gains tax rates, particularly the 28% rate for depreciation recapture). Capital …
RESIDENTIAL HOME FINANCING With a fixed rate mortgage (FRM), your monthly payments will be steady. In contrast, with an adjustable rate mortgage (ARM), your payments will vary over time. Adjustable rate mortgages typically have an initial fixed rate lower than the rate of a comparable fixed rate mortgage. The initial fixed rate period is followed …
Easing the Transition to Your New Home Use the right boxes, and pack them carefully Professional moving companies use only sturdy, reinforced cartons. The boxes you can get at your neighborhood supermarket or liquor store might be free, but they are not nearly as strong or padded, and so can’t shield your valuables as well …
A recent article in Fortune Magazine (2/7/07 edition) talked about the explosive growth in the use of Zillow.com by both buyers and sellers of real estate to estimate the market value of homes in their community The problem is that Zillow.com completely ignores the fact that you simply can not estimate a propertys market value …
DISTRESSED PROPERTIES – PALOS VERDES AND SOUTH BAY SHORT SALE EXPERT The Certified Property Expert designation demonstrates that I have the specialized knowledge to advise homeowners on how best to deal with home loan delinquency issues, foreclosures, and short sales. If you are facing loan delinquencie issues, please feel free to call me to discuss …
How much does it cost to build a home now?The average cost to build a single family residence can range over a considerable amount depending on the custom features, type of construction, etc. An example of this type of fluctuating costs depending on the quality of the work involved can be seen in my page …
FICO Scores are a 3 digit score used by credit agencies to rate a potential borrowers credit worthiness. The FICO score was developed by Fair Isaac Company (therefore the acronym FICO) in the 1950’s and has been universally adopted by the three main credit rating agencies, Equifax, Experian, and Trans Union. FICO scores range from …