In California, property taxes are a major source of revenue for local governments and are assessed on real property, including residential and commercial real estate. Property taxes consist of two main components: the regular property tax and the supplemental property tax. 1. Regular Property Tax: – Assessment: The regular property tax is based on the […]
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Demystifying Closing Costs Closing costs are an integral part of the home buying process in California. These expenses can catch buyers off guard if they’re not adequately prepared. To help you navigate this financial aspect of purchasing a home, we’ve put together a breakdown of the various items involved in closing costs: 1. Loan Origination […]
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Property disclosures refer to the legal requirement for sellers of residential real estate to provide potential buyers with information about the condition of the property. These disclosures are intended to protect buyers by ensuring that they have a clear understanding of the property’s condition and any known issues before completing the purchase. The specific disclosures […]
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When preparing a property disclosure packet for a residential real estate transaction in California, including important property inspections can be crucial to provide potential buyers with comprehensive information about the condition of the property. While specific inspection requirements may vary, here are some essential property inspections that are commonly included in disclosure packets: 1. Home […]
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An escrow is a neutral third-party arrangement or service that plays a critical role in real estate transactions, ensuring that the process is carried out smoothly and securely. The primary purpose of an escrow in California is to protect the interests of both the buyer and the seller during a real estate transaction. Here’s how […]
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