Escrow

What Retrofits Are Required by Law?

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Most cities and counties require that a property be in compliance with updated Health & Safety and Water Conservation standards in order to close escrow. The upgrades needed to satisfy the city or county standards are known as "retrofits" and are typically paid for by the seller

How are Expenses Prorated at Closing?

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How are property taxes transferred in a home sale? Who pays HOA dues at closing? How are those fees calculated? This post will explain all of this and more. There are a number of transferable fees due at closing, like property taxes and HOA fees , that need to be calculated. P

Home Warranty: Defined & Explained

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A home warranty protects a home buyer from costs associated with home repairs in their first year of ownership. For example, if the dishwasher breaks or if a pipe bursts, the warranty company will pay to fix or replace it. Read on for more details on what a home warranty covers a

What does "Legal Title" Mean in Real Estate?

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When you purchase a property, you have to decide how you want title to read after closing. "Title" is the legal paperwork that states who owns the property. Title can be held by a person, a company, or a trust. This post will explain what your options are and how your name will l