The FTB and Your Sale Escrow

Some key factors to know about the Franchise Tax Board (FTB) and your sale escrow: Every Seller’s withholding status is assessed separately Married Sellers are each considered to hold a 50% interest (Community Property State)   A properly completed Form 593-C avoids withholding No FTB form is complete without a Taxpayer Identification Number (TIN)  Form 593-E is offered by the FTB … Read More

How Seller Financing Impacts a Sale

Typical Southern California real estate purchasers plan to finance a majority share of the purchase price with a mortgage loan. Most of these buyers will seek financing through an institutional lender, usually a bank. However, there are certain conditions under which that financing might be arranged between the seller and purchaser of the property. Sellers may offer to “carry back” financing as part … Read More

Second Installment of Property Taxes: Due February 1st!

Friendly reminder that the Second Installment of property taxes are due on FEBRUARY 1, 2019 (and are considered delinquent after April 10, 2019)! To all sellers who are scheduled to close escrow ON OR BEFORE APRIL 10TH and have not yet issued their First Installment payment: It is in your best interest to pay the tax installment through escrow rather … Read More

Making a Smooth Move: Downsizing Tips for Seniors

GUEST BLOG POST WRITTEN BY: Michael Longsdon, Elder Freedom. After living in your home for years, it’s not unusual to feel a deep sense of sadness knowing that you have to downsize to a smaller home. Your house is filled with beautiful memories, and it’s tough to leave it all behind. But no matter where you decide to move and begin … Read More

San Diego County Recorder Holiday Schedule 2019

Our 2019 calendar is available now for download! We highlight the San Diego County Recorder’s Holiday schedule for easy reference! Learn more about the San Diego County Recorder on their website.

Release of New Geographic Targeting Order by the US Treasury Department

The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a new Geographic Targeting Order which describes the Covered Transactions for which title companies are required to gather information on All-Cash Entity Buyers. The Order is in effect from November 17, 2018 to May 15, 2019. Entity Buyers, such as Limited Liability Companies and Partnerships, can expect to be asked … Read More

First Installment of Property Taxes: Due November 1st!

Friendly reminder that the First Installment of property taxes are due on NOVEMBER 1, 2018 (and are considered delinquent after December 10, 2018)! To all sellers who are scheduled to close escrow ON OR BEFORE DECEMBER 10TH and have not yet issued their First Installment payment: It is in your best interest to pay the tax installment through escrow rather … Read More

Protect Yourself from Wire Fraud

U.S. real estate transactions are prime targets for wire fraud. When you consider that diverting a single wire transfer offers an average payout of approximately $169 thousand, it is clearly evident that Buyers and Sellers should exercise the highest caution when managing their funds in escrow. While technology continues to improve the ease of many workday functions, it also opens an … Read More

Property Tax Prorations Chart

Who pays what and when? At the closing of any real estate transaction, property expenses should be divided fairly between the buyer and the seller so that each party is paying only for those days which he/she owns the property. Who pays what and when varies greatly depending on the close date! Download our Property Tax Proration Chart for an … Read More

Your Guide to California Real Estate Withholding Forms

No matter the time of year, State Income Taxes must be considered during every California real estate transaction.  All parties to the sale can use our new guide to help navigate the various FTB Real Estate Withholding Forms which will be distributed by the Real Estate Escrow Person (REEP – that’s us)!” Use this free guide to learn more about … Read More