When real estate is sold in California, the state requires that income tax for that sale must be withheld. In this post we will discuss sellers who are individuals or who may qualify as an individual. We will also explain qualified exceptions and exemptions to...
Senate Bill 931, providing California Short Sale Deficiency Protection, will go into effect on January 1, 2011. This new law states that existing lenders of record who have approved and agreed upon a short sale will not be able to obtain a deficiency judgment against...
During this time of Thanksgiving, all of us at Coachella Valley Escrow would like to express our sincere appreciation for our readers! Thank you for taking the time to read our blog and the wonderful feedback you provide. From our family to yours, we wish...
Most often, when a property sells, the transaction is negotiated and the purchase agreement is put together by the real estate agents representing the buyer and seller. The real estate agents also act as the primary point of contact with escrow during...
In every purchase/sale of Real Estate, the buyer is granted title to the property from the seller through the delivery of a Deed. The escrow company/title company or an attorney prepares this Deed, and the Deed shows the seller, currently vested on title, is granting...
An Impound Account, also known as an Escrow Impound Account, is an account set up and managed by mortgage lenders to pay property taxes and insurance on behalf of the home buyer. These accounts are set up with the lender during escrow to ensure that...
Tuesdays, here at the Coachella Valley Escrow website, we post Technology Tips designed to help you, the REALTOR®, grow your business, keep up to date on the latest technologies, and move you forward into the new era of real...
One of the many important documents received by Escrow from a lender is the Truth in Lending Disclosure Statement (TIL). The TIL disclosure statement is one of the most misunderstood documents required for closing, and Escrow Officers are often faced with many questions from the...
In Today’s tight-lending market, individuals looking to invest have the opportunity to capitalize on some great deals and benefits when making an “all cash offer” on a property. An “all cash offer” is an offer that does not require a third party lender. Cash offers...
For some, the escrow process can be perceived as confusing, perhaps even overwhelming at times. Buyers and sellers are dealing with deadlines, mounds of paperwork, and signatures galore. It is not uncommon to feel anxious and have questions during the process. As the neutral third...