Frequently Asked Questions

Who are the typical parties in a real estate transaction?

  • The Seller(s) and Buyer(s)
  • ​When obtaining a mortgage, home buyers must use a Title Company. Lenders require title insurance as a condition of funding the buyer’s loan.
  • The Escrow Officer, who is a neutral third party.
Sellers deposit the deed and Buyers deposit funds

Is there a transfer tax in California?

California home sellers may need to pay a transfer tax

  • In Los Angeles County the total City & County Tax may range from $1.10 – $5.60 per $1,000

What must home sellers disclose when listing their property for sale?

Home sellers must disclose in writing all known facts that may affect the desirability of the property. Your Realtor will supply you with a Real Estate Transfer Disclosure Statement for you to complete.

When selling, preparation is key. What might preparation involve?

  • Get your documents in order before listing – deed, mortgage info, permits if work has been done, list of all improvement you’ve made to the home.
  • Depersonalize, declutter, and organize
  • Be prepared to repair or replace, and paint to freshen up
  • Make the house sparkle and shine
  • Consider curb appeal
  • Staged homes usually sell for more

When buying, there are several things to consider. What might these include?

  • Having lender pre-approval gives you an advantage (especially in multiple offer situations)
  • Try to clearly define what you want in your new home
  • Know your budget. Most lenders want your mortgage payment (including taxes & insurance) to be no more than 28% of your take-home pay. Please be sure to check with your lender for details.
  • Use a reputable Home Inspector
  • Look beyond the paint and cosmetic appearance

Have More Questions?


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