Recording the Sale and Closing the Escrow
In California, a home transaction is officially closed when the sale is recorded with the county. In most home sales, a grant deed that transfers ownership of the property from the seller to the buyer is recorded. The title company insuring the transaction against future unforeseen liens alerts all parties when the recording is complete. […]
Buyer and Seller Closing Costs
What are Closing Costs on a Home and Who Pays Them? Buyers and sellers of a home incur fees above and beyond the price of the property. So how much are those fees, and who pays for what? Here is a breakdown of the most common “closing costs” for home buyers and home sellers: Buyers […]
What is a Home Appraisal?
If a home buyer doesn’t have enough cash to buy a home, they will apply for a mortgage from a bank or lender and agree to pay the loan back over a 15- to 30-year timeframe. The lender will require an appraisal from a licensed, independent third party to confirm a home’s value, before it […]
What Happens if Buyer’s Home Appraisal is Lower Than Price?
There are 4 Alternatives for Buyer and Seller What happens if a buyer’s home-value appraisal is less than the purchase price? If the buyer’s offer to purchase is contingent on the home appraising for the full purchase price, which is the most common scenario on financed purchases, then the buyer and seller have more negotiating […]
Prepare for Home Inspection
Make Sure Your Home is Ready for Buyer Inspection and Appraisal If you’ve reached agreement with a buyer on your home, the buyer will want to schedule a home inspection and appraisal. Most buyers prefer to schedule a pest inspection to get an idea of house condition and for the yard or garden to get […]
