Off-MLS Listing Q&A The Pros and Cons of Off-MLS Listings: What Consumers and Real Estate Agents Should Know While not a new concept for veteran real estate agents, the terms “off-MLS” or “pocket” listings may be an unfamiliar phrase to many consumers and some newer agents. Home sellers and agents should nevertheless be aware that […]
Some Southern California Cities Require A Pre-Sale Inspection, A Report Or Both! Whether selling or buying a home, it is well to learn if the jurisdiction in which the property is located requires that representatives of that jurisdiction (invariably cities; counties usually do not do this) must enter and inspect the property before close of […]
The Law Of Contracts – A Few Basics There’s an old proverb that says “In California, if it ain’t in writin’, it ain’t real estate’. The Statute of Frauds in the State says that all real estate undertakings must be reduced to writing. The real estate industry, via its Trade Association, the California Association of […]
Proposition 60 And 90 And Tax Transfer For Those 55 And Older Proposition 60 allows any seller of seller-occupied real property who is 55 years or older at the time of sale to transfer the property tax of the sold property to any other property intended as the seller-turned-buyer’s principal residence to the new residence. […]
Seller Financing (So-Called “Seller Cadrries”) So-called “Seller Carries” are getting to be more common as landlords or empty nesters age and want out. The advantages, generally, are these: – The Seller may get a slightly higher price. – Although the interest on the note is taxable, it is additional income for the life of […]
Seller’s Affidavit Of Non-Foreign Status And Qualified Substitute Both the Federal Government and the State of California want to know if a seller of real property is a foreign national and, in the case of the State, if the seller will live in California. Reason: you guessed it, they want capital gains taxes if they […]