Solar Electricity generators. There are many benefits to having a home with solar panels, including reducing or eliminating electric bills, reducing carbon emissions, and hopefully improving the value of the home. Did you know having solar panels on a home could impact the transaction in a major way? It’s dependent on three factors: whether the […]
Home Warranty
Home warranty and homeowners insurance coverage offers both important coverages to help protect home buyers and homeowners from high costs due to damage to their home, or the costs associated with repairing or replacing a home’s systems and appliances. The seller is expected to pay for the home warranty expense since it comes out of […]
Transaction Coordinator – TC
Transaction Coordinator – TC Part of our team is the transaction coordinator or TC. They work for you and me and the overall deal. There is a lot of paperwork including disclosures, inspection, escrow docs, and others specific to your situation. TC’s work for you, not the Escrow or the seller. Again, they work for […]
Appraisals
The fact that residential home prices are increasing is music to the ears of homeowners. However, if you are in the process of buying your home, make sure you are aware of the major challenge a hot real estate market creates. With the recent changes in the market due to the fluctuating interest rates and […]
Proposition 19
How does Proposition 19 affect the tax assessment transfers: In California, eligible homeowners who are 55 years and older, severely disabled, or victims of wildfires and natural disasters may transfer their tax assessments to a different home of the same or lesser market value, within the same county, which allows them to move without paying […]
Escrow
Escrow is a service that provides the public with a means of protection in the handling of funds and documents. It enables the buyer and the seller to transact business with each other through a neutral party, thereby minimizing their risk. During the escrow, all parties involved give their instructions to this neutral intermediary, the […]
Foreign Investment in Real Property Tax
FOREIGN INVESTMENT IN REAL Property Tax The disposition of a U.S. real property interest by a foreign person (the transferor) is subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) income tax withholding. FIRPTA authorized the United States to tax foreign persons on dispositions of U.S. real property interests. A disposition […]
Getting Your Mortgage
Why is there so much paperwork mandated by lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and require three separate sources to validate each and every entry on the application form. Buyers are being told by friends and family that the process […]
Buying – What Not To Do
Don’t make a major purchase of a vehicle. An increase to your debt ratio reduces the amount of your monthly income. Wait on that new car! Don’t change Jobs – Unless you have to. Lenders like consistency and W-2 Income. Don’t give earnest money deposits directly to the seller, ever. Good faith money goes into […]
Loan Approval
Loan Approval : borrowers need to get these documents ready before they get serious about buying a new house. 1. Copies of W2’s for the last two years If Self-employed Proved year to Date P and L statement and a complete set of returns for your business (K-1, 1120’s 1065’s, etc) 2. Copies of your […]