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- Land on your offer price. You’ll want to land on a price that’s competitive without overpaying — but there’s more to it than that. While price is certainly important to sellers, there are other factors that they might consider.
- Document the details. Where is the house? What is the legal address? Who are you? Who is the seller? You need to have the details prepared, and buying a house requires extensive documentation.
- Include contingencies. Contingencies are certain conditions that must be met before the closing date and typically relate to financing, inspections, appraisals, and home sale.
- Offer earnest money. Earnest money shows the seller that you’re serious about buying. This deposit can be a percentage of the purchase price, usually between 1% and 5% of the home’s purchase price, or a flat amount; the standard amount varies depending on where you live.
- You are not required to have a real estate attorney or agent. While several states require those who purchase real estate property to work with a real estate attorney, in California this isn’t the case.
- California laws for selling a home require an escrow agent. In order to sell a home in CA, an escrow agent is needed. The property being sold, its title, and the funds involved are held in escrow until specific conditions are met.
- A transfer tax is imposed. The sale of a California property is taxable. The transaction triggers a county transfer tax and, in some instances, a city transfer tax.
- The seller must disclose information about the physical condition of the home. In California, the seller is obligated to disclose specific kinds of information about the home or property.
Aug 11, 2016 · Buying a home in today’s market will likely require you to make an offer on more than one home. In fact, 42% of buyers who make an offer on a home do so multiple times before succeeding in buying one, according to the Zillow Group Consumer Housing Trends Report 2021. Multiple offers was most common among Gen Z and Millennial buyers, ages 18 ...
- Shop For Mortgages and Get Pre-Approved
- Partner with A Local Buyer's Agent
- Terms Included in An Offer in California
- Prepare A Purchase Offer
- Most Common Offer Contingencies in California
- How to Process Disclosure Forms
- What to Do Once Your Offer Is Accepted
- Closing and Final Walkthrough
It is easy to get swept up in the excitement of searching for a home since it is easy to scroll through listings on the go. The California housing market is red hot, as sellers in coastal regions like Malibu and Santa Monica contend with bidding wars rife with buyers ready to offer over the asking price. Unless you are making an all-cash offer, the...
Californians equipped with a pre-approval letter in hand can confidently search through listings and make an informed offer. But placing bids without the expert guidance of a buyer's broker can result in missing paperwork nuances or making more significant mistakes. Brokers refine searches by unearthing details about properties, help select escrow ...
Purchase priceProperty addressContingenciesConcessionsAfter securing an agent and finding the ideal sun-soaked NorCal or SoCal home of your dreams, it is time to write up a purchase offer for the house. Purchase offers require the offer price, financing terms, address of the property, relevant contingencies, and a target date for closing the deal. Your purchase offer also needs data around inspections...
FinancingAppraisalInspectionContingent saleIt is easy to get swept up in the excitement of writing up a purchase offer on a Hollywood Hills dream home, but buyers must remember to pore over property disclosures first. These disclosures paint a picture of the wear and tear on a home, and your buyer's agent can inform you if the deal is worth it or not. California law requires sellers to prov...
Following several highs and lows of making offers and competing in bidding wars, you finally got an offer accepted and received a fully executed purchase agreement signed by the seller. But now that the seller chose your bid on a Post-modern compound overlooking the Pacific Ocean in Santa Monica, it is time to finish the deal. After providing proof...
Once a buyer gets through negotiations, inspections, and mortgage underwriting, it is time to close the deal. Before securing the keys to your new California home, buyers typically tour the grounds to ensure no damage occurred during moving and that all the appliances and other included items are still there. It is now time for final signatures, wh...
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- Evaluate your financial situation. If you're planning to take out a mortgage to pay for your home, you need to understand how your financial situation impacts your buying options.
- Choose the right neighborhood. A house's neighborhood is just as important as its layout and features. In general, you'll need to consider the following factors to decide which area is best for you
- Find a great real estate agent in California. Your real estate agent will be your main ally during the home buying process. Aside from finding and showing you houses, they can also make recommendations for other services like lawyers, lenders, and escrow companies.
- Get pre-approved for a mortgage. Most sellers won't show you their home unless you have a mortgage pre-approval letter. They don't want to waste their time with buyers who aren't serious or financially ready to put in an offer.
Feb 12, 2021 · A new California real estate law in 2020 prohibited home inspectors from giving an opinion of valuation on a property. This also prevents real estate appraisers from engaging in a home inspector’s activity. 14. Homeowners are prohibited from enforcing or restricting the display of religious items on a property door.
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California Real Estate Law: Homes in High-Fire Hazard Areas Must Have Ember Resistant Zone. California law requires homeowners in high fire-hazard areas to use intense fuel-reduction measures between 5 and 30 feet around their structure, and to create an ember-resistant zone within 5 feet of it. California gives homeowners broad rights to build ...
