Proposition 13 has been around since 1978, but voters have the chance to potentially change the California property tax initiative in 2020. Currently, Prop 13 treats all California property taxes in an identical manner, but opponents of the measure are calling for it to exclude...
The job of an escrow officer is complex, as there are many moving parts throughout a real estate transaction. But one of the more straightforward aspects of the role is calculating the amount of property tax that is due from the buyer and seller. While...
Real estate transactions are filled with many potential pitfalls for buyers, sellers and lenders, and that is why there are so many catch-alls in-place to safeguard these transactions. You have likely heard the word “contingency” come up during the buying or selling process, but what...
Everyone loves a deal or a discount, but there is that old saying, “You get what you pay for.” This is absolutely true when it comes to escrow, and when you consider that buying a home is one of your largest investments, it pays to...
When purchasing a home, the amount of paperwork can be overwhelming. There are documents for almost every possibility in the home buying process, including the “Notice of Right to Cancel” that pops up during the escrow process. But what is this document and what does...
What is the difference between “Assumption” and “Subject To” when it comes to loans? For buyers navigating the escrow process, it’s important to make the distinction. Here, we will look at the general differences between each of these and how their differences impact escrow. When talking...
The Question My lender is requiring that I pay off some credit cards and my car in escrow. Can you tell me how that works? The Answer Great question! You may already know this, but one component of qualifying for a home loan revolves around your ‘debt...
When it comes to opening escrow on a home, there are a lot of moving parts! A question that we get asked a lot about are impound accounts, so we wanted to take this opportunity to explain them in more detail. If you aren’t sure...
It’s hard to believe that we’ve entered the last few months of the year, and now is the time for holiday fun, but also when we start thinking about closing out the fiscal year And, for the self-employed, there are quite a few tax deductions that...
Once the process of buying a new home is over, all most homeowners really want to do is move in, relax and enjoy their new home. It’s totally understandable given for months they’ve been working hard to close. And while it’s important to take some...