As the escrow term draws nearer to the target close date, most buyers are singularly focused on that most important final hurdle: signing loan documents.
Important! For owners of Real Property in San Diego
Important tax information for owners of Real Property in the City and County of San Diego Failing to file certain forms of exemption with the County of San Diego can subject property owners to unexpected tax bills! Here we discuss Homeowners Property Tax Exemptions and the associated City Rental Taxes. Homeowners Property Tax Exemptions San Diego County real property which … Read More
How Seller Financing Impacts a Sale
Typically, buying a home in Southern California means financing the majority of the purchase with a mortgage loan. Most of these buyers will seek financing through an institutional lender, such as a bank. Under certain conditions, however, that financing can be arranged between the seller and purchaser. Seller Financing Sellers may offer to “carry back” financing as part of the … Read More
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
Protect Yourself from Wire Fraud
U.S. real estate transactions are prime targets for wire fraud. Considering that diverting a single wire transfer offers an average payout of approximately $169,000, it is clear that Buyers and Sellers should exercise the highest caution when managing their funds in escrow. Technology continues to improve the ease of many workday functions, however it also opens an additional avenue for … Read More
Closing the Deal
You’ve completed volumes of paperwork, answered a million questions, and learned a whole new vocabulary – so how do you finally get to the big prize: Closing Day? Depending on the complexity of your transaction, you may spend what feels like extended periods without hearing from anyone. This usually occurs when things are going well, and your assistance is not … Read More
Holding an Interest in Real Property
One of the most important decisions homebuyers must make is determining how their legal interests will be reflected in the Grant Deed that records at the close of escrow. The manner in which the ownership interest of each party is stated is called the vesting of title to real property. The vesting defines the share of ownership each holds, and … Read More
The Life of an Escrow… and a Free Download!
From the moment a Realtor delivers a Purchase Agreement to escrow to the distribution of final Closing Statements, the escrow process will follow many paths. Each transaction is different and requires its own plan of execution to ensure a smooth and successful close. The “Life of an Escrow” is furnished here in an easy-to-follow outline of the various ways to … Read More
Behind the Curtain: Invisible Escrow Tasks
Much of the escrow process is hidden from public view, and its function is often a mystery to the outside world. To a great extent, this is due to the confidentiality of the information we encounter, but it also results from a variety of ancillary tasks which settlement agents must perform in every escrow as a result of government regulation. … Read More
Close on Schedule: Agent’s Edition!
Close on Schedule – Agent’s Edition What agents can do to ensure that properties in escrow will close on target: Send your property profile to escrow along with the contract Provide your client’s contact information to escrow immediately Ask questions about anything that concerns you Prepare your client to expect a crucial package of forms (And tell them to return … Read More
- Page 1 of 2