Seller Resources
The Functions of an Escrow
Buying or selling a home (or other piece of real property) usually involves the transfer of large sums of money. It is imperative that the transfer of these funds and related documents from one party to another be handled in a neutral, secure and knowledgeable manner. For the protection of buyer, seller and lender, the escrow process was developed.
Title Insurance When Refinancing Your Loan
Lower interest rates have motivated you to refinance your home loan. The lower rate may save you a tremendous amount of money over the life of the loan, but you should also expect to pay the lender the typical closing costs associated with any new loan, including service fees, points, title insurance protection and other expenses.
Title Insurance Requirements for Insuring Trusts
In today’s world of busy probate courts and exorbitant death taxes, the living trust has become a common manner of holding title to real property. The following may help you understand a few of the requirements of the title insurance industry if title to property is conveyed to the trustee of a living trust.
Why Do You Need Title Insurance?
The purchase of a home is most likely one of the most expensive and important purchases you will ever make. You, and your mortgage lender, want to make sure that the property is indeed yours - lock, stock and barrel - and that no individual or government entity has any right, lien, claim to your property.
Statements of Information
Statements of Information provide title companies with the information they need to distinguish the buyers and sellers of real property from others with similar names. After identifying the true buyers and sellers, title companies may disregard the judgments, liens or other matters on the public records under similar names.
Required Reporting to the I.R.S.
Sellers of real property will have certain information regarding the sale reported to the Internal Revenue Service. This required reporting is a consequence of the Tax Reform Act of 1986; it is intended to encourage taxpayer compliance and aid in audit and enforcement efforts by the I.R.S.
Home repairs you shouldn't do yourself
A lot of people like to consider themselves as quite capable handymen. So, does that mean that you should handle every repair by yourself? Of course not. There are numerous home repairs you shouldn't do yourself, even if you are only trying to sell your home and want to be as cost-effective as possible.
Why Is My LA Home Not Selling?
Despite the COVID-19 pandemic the real estate market is still very active. Homes are selling fast and yours should be easy to sell. So in a seller’s market, why is my LA home not selling? If you haven’t received an offer after six or seven showings, you need to reevaluate your home’s situation to find out where your home’s weakness, or weaknesses, may be.
What is a Short Sale Anyway?
A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the lender forgives the remaining balance. Selling your home as a short sale is one way to avoid foreclosure.
Setting the Price
The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.
Plan of Action
The first step in a listing your home for sale is to analyze why you are selling. If you understand your motives, you will be able to better negotiate and to get what it is that you want, whether it be a quick sale, high price, or somewhere in the middle.
Making a Good First Impression
If you want buyers to be interested in your home, you need to show it in its best light. A good first impression can influence a buyer both emotionally and visually, thus prompting them to make an offer.
Know Why You are Selling
If you know exactly why you are selling then it is easier for you to follow the right plan of action for getting what you want.
Insist on a Home Inspection
A professional home inspection protects both you and the buyer. It allows both you and the buyer the opportunity to learn about the property’s defects.
Getting the Highest Price in the Shortest Time
In order to get the highest price in the shortest time, you need to know how to market your home. The better you market your home, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want.
Understanding Foreclosures
It is an unfortunate commentary, but when economic activity declines and housing activity decreases, more real property enters the foreclosure process. High interest rates and creative financing arrangements are also contributing factors.
Mechanics’ Liens
The mechanics’ lien is a right that a state gives to workers and suppliers to record a lien and ensure payment. This lien may be recorded where the property owner has paid the contractor in full and the contractor then fails to pay the subcontractors, suppliers, or laborers. Thus, in the worst case, a homeowner may actually end up paying twice for the same work.
Living Trusts
Estate planners often recommend Living Trusts as a viable option when contemplating the manner in which to hold title to real property. While not comprehensive, this blog post provides answers to many commonly asked questions.
Lead Poisoning
Lead poisoning is a serious problem that can lead to adverse health problems. Federal law requires that sellers disclose known information on lead-based paint hazards before selling a house.
For Sale By Owner - A Good Idea?
For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. This approach presents both benefits and drawbacks. Before you decide to sell your home yourself, thoughtfully consider just how much time and effort you can spare for selling your home, as well as how important it is that your home sell sooner rather than later.