My clients who are buying Brentwood Real Estate be it Brentwood Houses or Condos are always asking who is to pay for this or that, so I decided to make a list of who usually pays for items during escrow. Keep in mind West Los Angeles Real Estate Group negotiates every line item for their clients so although this is a good guideline how you negotiate the transaction will effect this list.
So when buying Brentwood Condos or Houses it is always good to have a professional and highly qualified team who specializes in Brentwood Real Estate handle your transaction.
Please call your specialist at West Los Angeles Real Estate Group to handle and take care of all your Real Estate needs. You can call me anytime at 310.505.5571 or of course email at bob_schmalz@wlaregroup.com.
BUYER Typically Pays For:
- Escrow fees – Their Own
- Document preparation (if applicable)
- Notary fees
- Recording charges for all documents in buyer’s name
- Termite inspection (according to contract)
- Tax proration (from date of acquisition)
- Homeowner’s transfer fee
- All new loan charges (except those required by lender for seller to pay)
- Interest on new loan from date of funding to 30 days prior to first payment date
- Assumption/Change of Records fees for take-over of existing loan •
- Beneficiary Statement fee for assumption of existing loan •
- Inspection fees (roofing, property inspection, geological, etc.) •
- Home Warranty (according to contract)
- Lender’s policy
- Fire insurance premium for first year
SELLER Typically Pays For:
- Real estate commission
- Escrow fees – Their Own
- County documentary transfer tax (55 cents per $500 of consideration, exclusive of the value of any lien or encumbrances attaching to the property at time of sale)
- Applicable city transfer/conveyance tax (according to contract)
- Document preparation fee for deed
- Any loan fees required by buyer’s lender
- Payoff of all loans in seller’s name (or existing loan balance if being assumed by buyer)
- Interest accrued to lender being paid off
- Statement fees, reconveyance fees and any prepayment penalties
- Termite inspection (according to contract)
- Termite work (according to contract)
- Home Warranty (according to contract)
- Any judgments, tax liens, etc., against the seller
- Tax proration (for any taxes unpaid at time of transfer of title)
- Any unpaid homeowner’s dues
- Recording charges to clear all documents of record against seller
- Any bonds or assessments (according to contract)
- Any and all delinquent taxes
- Notary fees – escrow fee
- Title insurance premium: Owner’s Policy
By Bob
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Also posted in Blog, brentwood, Brentwood Condos, Brentwood Houses, brentwood real estate, brentwood real estate broker, West LA Real Estate Group
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Tagged bank owned real estate, brentwood condos, brentwood home, brentwood houses, brentwood real estate, brentwood real estate broker, brentwood realtor, brentwood realty, condos for sale, condos in brentwood, houses for sale, houses in brentwood, real estate, real estate broker, REO, REO in Brentwood, west la real estate group
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In the past two weeks I have had two clients one buying a Santa Monica House and the other a Brentwood Condominium who asked me what does it mean to do a Title Search, what is the process?
West Los Angeles Real Estate Group tries to serve its clients and the community in understanding the Real Estate process, no doubt in can be daunting and is always a good reason to seek a professional instead of going it alone when you are thinking of buying or selling a Santa Monica Home or a Brentwood Condo.
In as simple terms I can find here is the step by step process;
- Customer Service verifies legal property description & how title to real property is held
- Preliminary order & title search are opened
- Preliminary search of real property is done
- Title search examines real property records, general index records & tax records
- Examiner reviews complete search package & writes preliminary report
- Data processor enters preliminary title information into computer & prepares preliminary report
- Messenger service delivers prelims to escrow & lenders
- New documents, demands & statement of information submitted to title company
- Escrow authorizes recording of new documents in the transaction
- Documents are recorded, confirmation of recording is received & liens of record are paid off
- Title officer writes title policies
- Data processor prepares final title policies
- Title policies released to client
Please call me with any questions, I am Bob Schmalz a Cal Licensed Real Estate Broker and founder of West LA Real Estate Group. You can reach me at 310.505.5571 or email at
bob_schmalz@wlaregroup.com
By Bob
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Also posted in Blog, brentwood, brentwood real estate, brentwood realtors, santa monica homes, Santa Monica Houses, Santa Monica Real Estate, West LA Real Estate, West LA Real Estate Group
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Tagged Brentwood Condominiums, Brentwood Condos For Sale, brentwood real estate, Brentwood Title Search, Real Estate Title Search, santa monica homes, santa monica homes for sale, santa monica house, Santa Monica Houses For Sale, Santa Monica Real Estate, Santa Monica Title Search, Title, Title Search, West LA Real Estate, west la real estate group
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2 BEDROOMS / 2 BATHS / 1100+ SQ FT
HOA $264 ONE OF THE LEAST EXPENSIVE IN BRENTWOOD
THREE BLOCKS TO SAN VICENTE
BRAND NEW ON THE MARKET
LIST PRICE $466,000
All Short Sales are very active and although it is on the market as active today the status can change quickly
Best valued 2 bedroom in Brentwood! Minutes from shopping & restaurants, this is THE light, bright, and quiet condo in the heart of Brentwood. Updated kitchen, dining room and spacious living room flow perfectly together to entertain, enjoy the game, & spend family time. Enjoy quiet nights in front of the fireplace, great views, a large balcony, and a morning swim in the pool. Nice sized bedrooms
with lots of closet space
CONTACT ME AT 310.505.5571 OR EMAIL; bob_schmalz@wlaregroup.com IF YOU WOULD LIKE THE FULL LISTING OR MAKE AN APPOINTMENT. THERE ARE MANY SHORT SALES THAT STAY ON THE MARKET A LONG TIME. I ONLY WORK WITH THE GOOD ONES… THEY GO FAST
ACTIVE 10.11.11 11-938755
By Bob
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Also posted in brentwood, Brentwood Condo Short Sale, Brentwood Condo Short Sales, brentwood real estate, brentwood realtors, Brentwood Short Sale, Brentwood Short Sales, brentwood village, condo, Condo Brentwood, condo for sale, condo short sale, Condo Short Sale Brentwood, condominium, Condominium Brentwood, condominium for sale, Condominiums Brentwood, condos, Condos Brentwood, condos for sale, short pay, Short Sale, Short Sale Brentwood, Short Sale Condos West LA, Short Sales -- Condos, Short Sales Brentood Homes, Short Sales Malibu
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Tagged bank short sale, brentwood condo short sales, Brentwood Condominiums, Brentwood Condos For Sale, brentwood property, brentwood real estate, brentwood realtor, brentwood realty, brentwood short sales, condo short sale, Short Sale, Short Sales, short sales in brenwtood
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I am starting to see the same Brentwood Houses for Sale week after week with a slow fall out. This would indicate finally that the inventory is getting lower which will lead to higher price and bring that pendulum that was so far on the buyers side perhaps back to the middle.
West Los Angeles Real Estate Group specializes in Brentwood Condos and houses both in selling and buying. If the Brentwood market does go back towards the middle it will be healthier for the economy in general and in the long arm of economics be helpful for buyers.
If you are a buyer looking for Brentwood Houses for Sale it is not too late to get aboard the buyers gravy train. Interest rates are at historic lows of 4 1/2% for 30 year fixed loans and with prices just turning the corner you can still buy near the bottom. Sellers start sweeping out that closet and clean out the garage it is time to get back in the game.
Brentwood Houses for Sale is exactly the same for buyers and sellers, buy it on sale or sell it at a good market price. Contact me for more information. Bob Schmalz 310.505.5571 or email bob_schmalz@wlaregroup.com
By Bob
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Also posted in Blog, brentwood, brentwood chamber of commerce, brentwood home, brentwood homes, Brentwood House, Brentwood Houses, brentwood real estate, brentwood realtors, Brentwood REO, Brentwood Town Home, brentwood village, houses for sale, Houses in Brentwood
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As you all know by now I live in the Crestwood Hills section of Brentwood, my son goes to school here and both my wife and I are members of the local Chambers of Commerce. I have seen first hand the effect the economy has has had on Brentwood Houses For Sale. Luckily it is a very strong and vibrant socio-economic community and although we have been effected in the down turn in the housing market we have not had the amount of distressed homes other communities have that would depress the prices further.
Recently I have seen an uptick in the market. There have been more open houses on the weekend, multiple offers are taking place on many houses and inventory seems to be going down. Although the economy by itself is still struggling I think the depressed market of Real Estate has bottomed and is beginning to rise in our Brentwood Real Estate Market.
Having said all that although the Brentwood Houses For Sale is getting Stronger the condo market is still very soft. Couple this with interest rates -at 4.5% it is a great buyers market for First time buyers and down sizing families.
I have many reports I can share with you and market conditions to show you so if you a looking for Brentwood Houses For Sale or Condos, please call at 310.505.5571 or of course email bob_Schmalz@wlaregroup.com
By Bob
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I stuck my head into a webcast that was being sponsored by one of the largest home builders in the country. I took away some of the following key points . While many factors are feeding into the pricing decline, there are two factors that stand out;
- Consumer sentiment and employment rates that are barely off the bottom –
- The swamp of distressed properties that builders are forced to compete with
It was pointed out there are currently 3.7 million homes that are at least 90 days delinquent on their loans. Most of these will not get modifications. The continuing plague of distressed properties is feeding a cycle wherein distressed sales push prices downward, which creates more negative equity among homeowners. This in turn fuels more defaults and distressed sales.
The fist point I want to make is that if you are in this position call me 310.505.5571 or email bob_schmalz@wlaregroup.com. You should be going down two paths; try for the loan mod but be ready to have another choice. I am the Short Sales Specialist for West Los Angeles.
The second point is that the better communities of Santa Monica Houses & Brentwood Condos do not have many short sales or foreclosures. You will find some in the Pacific Palisades, West LA and Bel Air to name a few communities in the West LA Real Estate Group’s marketing territory.
By Bob
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Also posted in Blog, brentwood, Brentwood Condo Short Sale, Brentwood Short Sales, Marketing Homes, Marketing Houses, marketing tool, mortage loan, mortgage, mortgage agreement, Mortgage Approval, Mortgage Rejection, mortgages loan, Santa Monica, Santa Monica Homes Short Sale, Santa Monica Houses, short pay, Short Sale
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