Buying a home is challenging enough, but buying a home in California? That might even be more of a challenge because the state has some unique laws and regulations in real estate. In fact, some of the norms in other states are not exactly what California requires. If you are thinking of transferring to the sunny West Coast and you’ve got California on your sights, know as much as you can about buying real estate properties there.
But it is not just buying real estate that you should be careful about. You need to read up about moving companies in California. The reviews will give you a competitive advantage in choosing and trusting the right mover when it’s time for that great move to California. Remember that buying a home is much about the moving process too. You can’t just buy a house without thinking about the logistical process of the actual move.
The Buyers and Sellers Don’t Have to Meet
In California, no rule or law says the seller and buyer have to meet ever. In some states, they are required during the closing or settlement. This same rule is not required in California because the escrow company can do it on the seller’s and buyer’s behalf. Also, they can task their lawyers to undergo the process instead.
This is a good thing because the escrow company is usually very strict when it comes to meeting the requirements for the deal. There is no delay here, such as bad traffic and incomplete requirements. If the contract terms have not been completed yet, the escrow company will not transfer the land’s title.
You Don’t Need to Hire a Lawyer
In other states, you have to hire a lawyer when closing a deal on a property. Californian laws allow the buyers to hire a real estate agent instead of a lawyer to guide them in making an offer for a property. You can choose to hire an attorney for this task, but it is not mandated by law.
It Is Impossible to Close Escrow in 30 Days
Lending regulations in California became tighter in the past decade. It is now harder to close escrow in 30 days, which used to be the norm. Buyers can expect to close escrow in 45 days. It is a more realistic timeline than trying to close the deal in a month.
Attend the Home Inspections
Do not cut corners when it comes to home inspections. Every buyer should have a general inspection. Be there when it happens. You should make sure that the inspector checks every nook and cranny of the house, including the plumbing, roof, fireplace, furnace, and property. If you find a problem after the property has been sold, the law will favor the seller. After all, you have already been given a chance to do your own inspection.
You Might Need to Pay Mello-Roos Taxes
Aside from regular taxes, homebuyers might need to pay the Mello-Roos taxes if the property is located in a Mello-Roos Community Facilities District. Ask the real estate agent if the property is subject to this tax, which is used to fund improvements to local streets, sewers, sanitation systems, schools, parks, and other local facilities.
Moving to California entails more than packing your bags and leaving. Always check how different the laws and regulations are in your destination before looking at some houses. You might fall in love with a property only to find out you need to pay extra taxes for it. If you are on a tight budget, that might not be practical to do anymore.