Show time – Selling Your Home

by Teryn on October 16, 2014

blooming tree by window

End-of-summer sales on patio furniture might be front and center, but it might be just the right time to invest in new indoor chairs, couches or tables. Take a seat and learn how to prepare with tips from Better Homes and Gardens.

Do your homework. First, measure everything. Write down room dimensions, accounting for the door and other details of the space. Also, have an idea of what you like. Get inspiration from home décor magazines and online research. But, remember, you will need to touch, sit and even lift furniture before deciding if you should bring it home.

Ask yourself the right questions. What is the purpose and function of the furniture? Is comfort or aesthetic the priority? It may help to bring to the store the measurements, photos of the room and magazine pages so that you can refer to them while you’re shopping.

Pay attention to detail. Check the cushions and stitching. Run your fingers over the woodwork and finish. Take time to examine every detail. Make sure that the furniture piece is exactly what you are looking for.

Don’t settle. If you aren’t sold on a piece, don’t get it. Every detail should be perfect. Many stores now even have a custom design division. Still feel overwhelmed? Ask your CRS REALTOR® for an interior designer referral.

Please feel free to call me to learn more about the home selling process! (805) 339-3591.

Photo courtesy of Dillon Scheps.

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What is a Title Insurance Policy?

The policy of title insurance you receive when you purchase a home is an important document, but may buyers don’t understand what kind of protections the policy provides. Simply put, a policy of title insurance protects a buyer or lender against errors, omissions, or defects in the title to the property. Unlike auto or homeowners insurance which protect you against future loss, title insurance protects you against claims or losses which have been created by past events which occurred prior to the time you own the property.

For a one-time charge at closing, the title company will complete an exhaustive search of the public record and, at close of escrow, it will issue an insurance policy which will safeguard against the title problems which might challenge ownership of the property. There are two basic forms of title insurance:

  • The lender’s policy protects the lender’s interest in the property. The amount of insurance is usually based on the loan amount.
  • The owner’s policy protects the buyer and is issued in the amount of the purchase price of the property.

The Title Report

As soon as your escrow is opened, your escrow office will contact the title company and open the title search. Within a day or two, the title company will issue its title report. This report is the result of a search of public records and the historical chain of title to detect known claims against or defects in the title to the property. Items founds in this search include loans, liens or judgments which may be recorded against the property or against the seller.

The escrow office carefully reviews the report to identify which items must be cleared from the title. You and the other parties in the escrow will be given a copy of the report. This is your opportunity to review the items which affect the title to the property you are buying. Not all items can be removed from the title. Real property taxes and Covenants, Conditions, and Restrictions (CC&Rs) are said to “run with the property”, which means they will affect the land for all time. As the buyer, you agree to purchase the property “subject to” the approved “exceptions” to your title insurance coverage.

Satisfying Title Requirements

The escrow instructions and the new lender’s loan documents describe what title requirements must be met before the escrow can close. It is your escrow officer’s responsibility to make certain that these requirements are satisfied. As a typical example, the seller may have an existing loan encumbering the property. The escrow officer will gather information about this loan from the seller, order a payoff statement, and arrange for the payoff at closing. These actions enable the seller’s loan (usually secured by a deed of trust) to be removed from the property.

Closing

Your escrow officer will authorize recording only after all conditions, including title requirements, have been met. Shortly after your escrow closes, the title company will mail its policy to you. It’s a good idea to retain this document with other important papers relating to your escrow transaction.

Title or escrow company personnel are available to review and explain your title policy and your closing statement.

If you have questions regarding this topic, please feel free to call Curtis Murrieta, Pacific Coast Title Company sales representative (805) 223-5915.

Please feel free to call me to learn more about the home buying process! (805) 339-3591.

Photo courtesy of Dillon Scheps.

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Closing Day – Title and Escrow

October 2, 2014

The escrow closing day is the conclusion of a process which, over days, weeks, or perhaps months, has required the cooperation and energy of many professionals and the Buyer and Seller. Just prior to closing, the Escrow Officer audits the entire escrow file, provides instructions to the Title Company, and formally authorizes recordable documents to [...]

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3 Bedroom Mid-Town Spanish Charmer for Rent $2600

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It’s a big day. The day you go to the title or escrow company, sign your name on the dotted line, hand over a check, and prepare to take ownership of your new home. It’s also the day that you and the seller will pay “closing” or settlement costs, an accumulation of separate charges paid [...]

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Reconveyance of the Deed of Trust What if you pay off a loan, how do you ensure that you have clear title to your property? If you borrowed money when you purchased your home or if you have refinanced, it is likely that a deed of trust was recorded in favor of your lender. This [...]

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Ventura’s Private Sewer Lateral Program

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According to the San Buenaventura Code, Chapter 222.210, Sewer Connections, Section 22.210.020 Sewer Connection Permit, Part C #7 states: “Property owner to maintain sewer lines. All lateral and house sewer links from the public sewer to private property, including the wye and saddle at the public sewer, shall be maintained a the expense of the [...]

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What is Mello-Roos?

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Mello-Roos refers to “special” tax districts. Senator Henry J. Mello and former Assemblyman Michael Roos won passage of Mello-Roos Community Facilities Act in 1982. This legation authorized Mello-Roos Community Facilities District as a way to assist cities, counties and schools districts to provide new infrastructure and facilities after governmental funds were cut by the passage [...]

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Sellers Look for Bigger, Newer Homes

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Ventura Housing Market

August 23, 2014

2013 Pace of Ventura Sales Last year it was easy to see that the inventory of homes was very low during 2013 and got skinnier as the year continued. You could almost feel it in the air. The beginning of the year looked very hopeful for buyers coming into the market. For every home sold, two homes [...]

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