Under Construction: Please see next tab and check back later for the updated buyer guide.

• Who Pays What - California Transfer Tax and Fees (rev 121120)  There are fees associated with buying a home.  Some of those fees are determined by local custom, while others are determined by city, county, state, and federal regulations.  Learn what some of those fees are here: Who Pays What in California

• I will prepare a buyer's Estimated Cost Worksheet for you, which provides a list of the types of sale transaction costs you can expect to incur, and estimated amounts so you can be fully informed. Your mortgage lender and/or escrow officer will provide you an actual payoff of your current mortgage (if any), and provide estimates for your title and escrow fees and other closing costs.  When you are ready, I will help create a Buying Plan with you and provide more specific details about these things and others like hiring home inspectors.

What is escrow and how does it work? Essentially, escrow is a process managed by a neutral third party.  In Northern California, for example, escrow is typically managed by a title company.  Here's the Life of an escrow flowchart presented by the escrow team at Fidelity National Title Company that can help you better understand.

Another common question is who are the parties to an escrow?  Here is Life Of An Escrow by Role presented by the escrow team at Fidelity National Title Company that describes the Buyer / Seller / Escrow Officer / Lender roles and what each is typically doing within the escrow process. Notice, "Real Estate Agent" is not one of the defined roles in escrow because your real estate agent is not a neutral (or disinterested) third party. While real estate agents provide counsel to buyers and sellers throughout the sale process they are not a 'party' in escrow.

What does escrow cost? That is a great question and you'll want to know how to budget for it.  Buyers can usually expect their escrow costs and fees to run about 1.5% to 2% of the purchase price.  So, as an example, 2% of $700,000 purchase price would be $14,000.  There are many line items that make up this total, some of which are actual escrow fees charged by the escrow company, but they can also include things like a home warranty, document and notary fees, title insurance, prepaid mortgage interest that your lender will require, prepaid property taxes, again that your lender may require, and other items that you and the seller may negotiate. For example, you might offer to pay for an HOA Transfer fee.  Don't worry though, I will help you estimate your buying costs when we create your Buying Plan, and your Lender and Escrow Officer are great resources for helping too!

"Proposition 19 – The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act

On November 3, 2020, California voters approved Proposition 19, The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act."

The following is to provide general information on Proposition 19. Please continue to visit the California State Board of Equalization (BOE) website for updates, as additional legislation will provide further clarification.

California voters passed Proposition 19,  which makes changes to property tax benefits for families, seniors, severely disabled persons, and victims of natural disaster in California.

See this chart prepared by the state BOE to help understand the effects of Prop 19:  Comparison Charts

Find Prop 19 FAQs here:  Prop 19 FAQs

"Disclaimer: The information provided is intended to provide general and summary information about Proposition 19. It is not intended to be a legal interpretation or official guidance, or relied upon for any purpose, but is instead a presentation of summary information. Proposition 19 is a constitutional amendment, so additional legislation, regulations, and statewide guidance are expected to clarify its implementation. If there is a conflict between the information provided here and the proposition or any legal authorities implementing or interpreting the proposition, the text of the proposition and the other implementing or interpretive authorities will prevail. Please continue to visit the website of the State Board of Equalization for more information. We encourage you to consult an attorney for advice on your specific situation." (https://boe.ca.gov/prop19)

"Owner's title insurance protects your right to your home."

Why You Need Title Insurance Overview