Property Assessed Clean Energy (PACE) funding for Water Efficiency and Renewable Energy Projects By offering up to 100% financing on qualifying improvements, PACE can eliminate the need for homeowners to pay out of pocket for qualifying home improvement projects and, depending upon the type of improvements, amortize repayment for up to 20 years. PACE financing is collected through the Real Property … Read More
Close on Schedule: Buyer’s Edition!
#WeAreOnTheCase with our next “Close on Schedule” installment! As a Buyer, closing might bring along some anxiety… But that doesn’t have to be the #Case! Staying proactive and being prepared is key. Here is a quick list of what Buyers can do to help ensure their purchase will close on target: Make sure your agent has your best contact info … Read More
State Restrictions on Closing Funds
Confirm the ‘Clear’ Status of your Down Payment Regulations of the State of California impose restrictions on the kind of funds which may be accepted for closing escrow. Prepare to deposit closing funds in the form of a Wire Transfer (or a Cashiers Check two days in advance) Learn more at: http://codes.findlaw.com/ca/insurance-code/ins-sect-12413-1.html Your Case Escrow Officer is prepared to advise you regarding … Read More
Closing is a Partnership
Case Escrow is dedicated to supporting Buyers and Sellers as they realize their real estate goals; we remain steadfast in performance of our duties at the hub of the transaction. Here are important ways that Buyers and Sellers can actively influence a successful closing: Spring into action. The progress of the escrow is highly dependent upon delivery of the information … Read More
What are Specially Designated Nationals?
The Office of Foreign Assets Control (“OFAC”) is a division of the U.S. Department of the Treasury. As part of its enforcement efforts, OFAC publishes a list of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs … Read More
Close on Schedule: Seller’s Edition!
Closing can be a stressful process for all parties involved. By being prepared, however, you can alleviate some of this strain and close on time! Here is a quick list of what Sellers can do to help ensure their property sale will close on target: Make sure your agent has your best contact info Know when your agent plans to … Read More
Achieving your Homeownership Dream
Not surprisingly, a fair amount of mystery continues to surround the home buying experience — after all, most people only purchase one or two homes in their lifetime. Even then, the mechanics of the escrow process remain mostly invisible to the consumer. Still, there are things that every buyer should know, and the most important thing you can do as … Read More
Important Info for Buyers Purchasing Real Property from Foreign Sellers
Attention buyers purchasing real property from a foreign seller! The Internal Revenue Service places the burden on the transferee (the Buyer) for determining the citizenship status of the Seller, and for withholding a portion of the sale proceeds of a foreign Seller for payment to the IRS. Learn more about this on the FIRPTA Withholding page on the IRS website. Remember… … Read More
Property Tax Prorations
The purpose of a proration in a sale transaction is to fairly divide property expenses like taxes and association dues between the Seller and Buyer so that each party is paying only for those days which he actually owns the property. The property tax year does not follow the standard calendar year. The tax year runs from July 1st of … Read More
What is Sub-Escrow?
As a practical matter, the escrow holder delegates certain settlement duties to the title company who is charged with insuring the delivery of a clear title at closing. What is sub-escrow? As a sub-agent of the escrow holder, the title company’s payoff department – also called the sub-escrow department — will receive the loan proceeds from the buyer/borrower’s new lender … Read More