| HOME WARRANTY SERVICES |
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| Home Buyers Protection |
| By covering major home systems and appliances, a Home Protection Plan can help make buying or selling a home a more rewarding experience. |
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| Home buyers benefit: |
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| • Coverage for unexpected repair or replacement costs of many of your home's major |
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systems and appliances. |
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| • Convenience with access to our network of local certified contractors through our |
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service representatives available 24 hours a day, 365 days per year. |
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| • Budget protection by only paying a nominal service fee per trade call in most |
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situations. |
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| Home sellers benefit: |
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| • Competitive edge for a faster sale. |
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| • Potential additional negotiating power to sell at a higher price. |
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| • Reduce after-sale liability. |
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| MORTGAGE SERVICES | THE HOME LOAN PROCESS |
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Financing your new home can be just as important as finding the right home. In fact, the financing can often make the difference in getting the home of your dreams, or not. That’s why it’s important to talk to a mortgage loan professional before you start house-hunting. They will take the time to explain the options available to you and recommend a loan program designed to meet both your short term and long term objectives.
Today, there are a wide variety of home loan programs designed to fit virtually every situation. With a professional mortgage team working for you, you’ll be surprised to find just how easy it is to get the right loan to meet your needs. You’ll be moving in no time! |
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| 1031 TAX FREE EXCHANGE |
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Section 1031 of the IRS code lets you sell a property and buy a new property without paying any taxes but you must use an accommodator to comply with the rules. The property must be “of like kind” and not a primary residence. Below is a link to an accommodator, 1031 Exchange Advantage, for more information. There is a loophole that may allow you to use both the $250,000 tax free allowance for single and $500,000 for married couples in combination with the 1031 exchange.
Contact Tobias for more information 949-303-8911 |
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| ESCROW SERVICES | WHAT IS AN ESCROW? |
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An escrow is an arrangement on which a neutral third party, called an escrow holder, holds legal documentation and funds on behalf of a buyer and seller. The escrow agent works closely with you, your realtor and lender to assure that the sale conditions are complied within the time period called for in the Residential Purchase Agreement and Joint Escrow Instructions. After all parties have executed these documents, escrow prepares an Addendum to the Residential Purchase Agreement and Joint Escrow Instructions. Escrow then distributes them according to the buyers and sellers instructions. Both the buyer and the seller rely on the escrow holder to carry out faithfully their mutually consistent instructions relating to the transaction. Escrow
holder is bound by law to notify both parties if the instructions given are not mutually consistent or cannot be carried out. These instructions are drawn by the Escrow Officer, and signed by the buyer and seller. Since the escrow instructions are not as detailed
as the Purchase Contract, the information contained in the instructions is intended to direct the Escrow Officer in the specific steps that are to be completed through the escrow instruction. |
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| TITLE SERVICES | WHAT IS TITLE INSURANCE? |
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The purchase of a home is probably the single largest investment you'll make in your lifetime. It is only prudent that you want to safeguard your rights and investment. Title insurance assures that your rights and interests to the property are as expected, that the transfer of ownership is smoothly completed and that you receive protection from future claims against the property. It is the most effective, most accepted and least expensive way to protect your ownership rights.
Because land endures over generations, many people may develop rights and claims
to a particular property. The current owner's rights - which often involve family and heirs - may be obscure. There may be other parties (such as government agencies, public utilities, lenders or private contractors) who also have 'rights' to the property. These interests limit the 'title' of any buyer.
Before your real estate transaction closes, the title company performs an extensive search of all recorded documents related to the property. These records are then examined by experienced title officers to determine their effect on the current status
of ownership and a report is issued to you or your agents for review. This through examination generally allows any pending title problems to be identified and cleared prior to your purchase of the property.
If title insurance companies work to eliminate risks and prevent losses caused by defects in the title before the closings, why do you need a title insurance policy?
Because even after the most careful research, some title flaws may go undetected. Among the more common flaws to title which are not of record are forgery, invalid
court proceedings, mistaken legal interpretations, defective deeds, confusion due to similarity of names, previously unrecognized rights of spouses and undisclosed heirs. These problems may surface at any time in the future.
Protection against these flaws and other claims is provided by the title insurance
policy which is issued after your transaction is complete. Two types of policies are routinely issued at this time: an 'owners policy' which covers you, the homebuyer for the full amount you paid for the property; and a lender's policy which covers the lending institution over the life of the loan. When purchased at the same time, you can obtain
a substantial discount in the combined cost of an owner's and a lender's policy. Unlike other forms of insurance, your title insurance policy requires only one moderate premium for a policy to protect you and your heirs for as long as you own the property. There are no renewal premiums or expiration date.
Each policy is a contract of 'indemnity'. It agrees to assume the responsibility for legal defense of your title for any defect covered under the policy's terms and to reimburse you for actual financial losses up to the policy limits.
This insurance protection is an important follow-through of the service you receive from California Title Company and its title insurance subsidiaries. |
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| TOBIAS | 949.303.8911 |
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