UPDATE
AB 957 “The Buyers Choice Act”
What is AB 957 the “Buyer’s Choice Act?” The Buyer’s Choice Act prohibits owners (typically banks) of foreclosed properties from forcing California homebuyers to use a particular title company, escrow company or other real estate service provider. The Buyer’s Choice Act requires that a disclosure notice be provided to buyers informing them of their rights to choose their own real estate service companies to close their transactions. When does AB 957 become law? The Buyer’s Choice Act became law on Sunday - October 11, 2009.
FACT 1: Any seller of residential real property improved by four or fewer dwelling units shall not require directly or indirectly, as a condition of selling the property, that title insurance covering the property or escrow service provided in connection with the sale of the property be purchased by the buyer from a particular title insurer or escrow agent. This section does not prohibit a buyer from agreeing to accept the services of a title insurer or an escrow agent recommended by the seller if written notice of the right to make an independent selection of those services is first provided by the seller to the buyer. FACT 2: A seller who violates this section shall be liable to a buyer in an amount equal to three times all charges made for the title insurance or escrow service. In addition, any person who violates this section shall be deemed to have violated his or her license law and shall be subject to discipline by his or her licensing entity. FACT 3: This article shall remain in effect only until January 1, 2015, and as of that date is repealed, unless a later enacted statute, that is enacted before January 1, 2015 deletes or extends that date. Note: If buyer agrees to “Sellers Choice” in the purchase contract there is still a chance for the buyer to use a title insurer or escrow agent of his/her choice once they receive the written notice of the right to make an independent selection of services from the Seller / Bank. In the event that the buyer exercises their rights to put into effect The Buyers Choice Act, the Seller/ Bank should not counter the decision of the buyer in the purchase contract.
Information deemed reliable, but accuracy is not guaranteed.
City Transfer
City Transfer
TAX List
TAX List
The county transfer tax is $1.10 per $1,000 (rounded to the nearest $500) statewide in all counties except San Francisco. The County Transfer Tax is based on the sales price.
The county transfer tax is $1.10 per $1,000 (rounded to the nearest $500) statewide in all counties except San Francisco. The County Transfer Tax is based on the sales price.
A number of cities have imposed additional city transfer taxes. Shown below is a quick reference list of the cities which impose transfer taxes and the various rates. Do not rely upon this information without first confirming the current rate with the applicable city.
A number of cities have imposed additional city transfer taxes. Shown below is a quick reference list of the cities which impose transfer taxes and the various rates. Do not rely upon this information without first confirming the current rate with the applicable city.
CITY
Rate Per $1,000
Alameda Albany Berkeley Cloverdale Culver City Hayward Los Angeles Mountain View Oakland Palo Alto Petaluma Piedmont Pinole Pomona
$12.00 $11.50 $15.00 $1.10 $4.50 $4.50 $4.50 $3.30 $15.00 $3.30 $2.00 $13.00 $5.50 $2.20
San Francisco: $100,000 - $250,000 $251,000 - $1,000,000 $1,000,000 +
CITY Redondo Beach Richmond Riverside Sacramento San Jose San Leandro San Mateo San Rafael Santa Monica Santa Rosa Sebastopol Vallejo
$5.00 $6.80 $7.50
Compliments Of
Information deemed reliable, but accuracy is not guaranteed.
Rate per $1,000
CITY
Rate Per $1,000
$2.20 $7.00 $1.10 $2.75 $3.30 $6.00 $5.00 $3.10 $3.00 $2.00 $2.00 $3.30
Alameda Albany Berkeley Cloverdale Culver City Hayward Los Angeles Mountain View Oakland Palo Alto Petaluma Piedmont Pinole Pomona
$12.00 $11.50 $15.00 $1.10 $4.50 $4.50 $4.50 $3.30 $15.00 $3.30 $2.00 $13.00 $5.50 $2.20
San Francisco: $100,000 - $250,000 $251,000 - $1,000,000 $1,000,000 +
CITY Redondo Beach Richmond Riverside Sacramento San Jose San Leandro San Mateo San Rafael Santa Monica Santa Rosa Sebastopol Vallejo
$5.00 $6.80 $7.50
Compliments Of
Information deemed reliable, but accuracy is not guaranteed.
Rate per $1,000 $2.20 $7.00 $1.10 $2.75 $3.30 $6.00 $5.00 $3.10 $3.00 $2.00 $2.00 $3.30
Cities Requiring Pre-Sale Inspection/ City Reports Azusa Bell Beverly Hills Carson Compton Cudahy Culver City El Monte El Segundo Gardena Hawaiian Gardens Hermosa Beach Huntington Park (1-4 Units Only) Inglewood Irvine Laguna Beach Long Beach Los Angeles (City of LA Only) Lynwood Manhattan Beach Maywood Monterey Park Newport Beach Orange Oxnard Palos Verdes Estates Pasadena Port Hueneme Rancho Palos Verdes Redondo Beach Rolling Hills / Rolling Hills Estates San Marino Santa Monica Signal Hill South Gate Thousand Oaks
626.812.5235 323.588.6211 310.285.1141 310.952.1766 310.537.8000 323.773.5143 310.253.5800 626.580.2050 310.524.2380 or 310.524.2379 310.217.9530 562.420.2641 Ext. 217 310.318.0235 323.582.6161 310.412.5294 (Order online or in person) 949.724.6470 949.497.3311 562.570.6651 213.473.3231 310.603.0220 310.802.5505 323.562.5000 626.307.1300 949.644.3255 714.744.7200 805.385.7925 310.378.0383 626.744.4200 805.986.6500 310.541.7702 310.372.1171 310.377.1521 / 310.377.1577 626.300.0711 310.458.8341 562.989.7300 323.563.9500 805.449.2100
THESE ARE THE CITIES THAT REQUIRE PRE-SALE INSPECTION REPORTS WHEN YOU GO TO ESCROW. Please check with the local agency to get updated information. Information deemed reliable, but accuracy is not guaranteed.
Cities Requiring Pre-Sale Inspection Reports BELL
CARSON
AZUSA
BEVERLY HILLS
EL MONTE
GARDENA
EL SEGUNDO LAGUNA BEACH
CUDAHY
CULVER CITY
COMPTON HERMOSA BEACH
INGLEWOOD
HAWAIIAN GARDENS
HUNTINGTON PARK
LONG BEACH
MANHATTAN BEACH
1-4 Units Only
LOS ANGELES IRVINE
City of LA only
MONTEREY PARK
ORANGE
NEWPORT BEACH REDONDO BEACH RANCHO PALOS VERDES
ROLLING HILLS
SOUTH GATE
TORRANCE
LYNWOOD
MAYWOOD
PALOS VERDES ESTATES
PORT HUENEME
OXNARD
PASADENA
SAN DIEGO
SANTA MONICA
SAN MARINO
SIGNAL HILL
THESE ARE THE CITIES THAT REQUIRE PRE-SALE INSPECTION REPORTS WHEN YOU GO TO ESCROW. Please check with the local agency to get updated information.
THOUSAND OAKS
Information deemed reliable, but accuracy is not guaranteed.
Los ANGELES COUNTY
ZIP CODES
A list of Los Angeles County zip codes for quick reference Acton Agoura Hills Alhambra Alhambra Altadena Arcadia Arcadia Artesia Avalon Azusa Baldwin Park Bell Bellflower Beverly Hills Beverly Hills Beverly Hills Burbank Burbank Burbank Burbank Burbank Calabasas Canoga Park Canoga Park Canyon Country Canyon Country Carson Carson Castaic Cerritos Chatsworth Claremont Compton Compton Compton Covina Covina Covina Culver City Culver City Diamond Bar Downey Downey Downey Duarte El Monte El Monte El Monte - South El Segundo Encino Encino Gardena Gardena Gardena Glendale Glendale Glendale Glendale Glendale Glendale Glendale Glendale Glendora Glendora Granada Hills Hacienda Heights Harbor City Hawaiian Gardens Hawthorne Hermosa Beach
93510 91301 91801 91803 91001 91006 91007 90701 90704 91702 91706 90201 90706 90210 90211 90212 91501 91502 91504 91505 91506 91302 91303 91304 91351 91387 90745 90746 91384 90703 91311 91711 90220 90221 90222 91722 91723 91724 90230 90232 91765 90240 90241 90242 91010 91731 91732 91733 90245 91316 91436 90247 90248 90249 91201 91202 91203 91204 91205 91206 91207 91208 91740 91741 91344 91745 90710 90716 90250 90254
Huntington Park 90255 Inglewood 90301 Inglewood 90302 Inglewood 90303 Inglewood 90304 Inglewood 90305 Los Angeles 90003 “ 90004 ” 90006 “ 90010 ” 90011 “ 90012 ” 90015 “ 90016 ” 90018 “ 90019 ” 90020 “ 90023 ” 90027 “ 90029 ” 90034 “ 90035 ” 90036 “ 90037 ” 90039 “ 90047 ” 90057 “ 90062 ” 90063 “ 90044 ” 90059 “ 90061 La Canada Flintridge 91011 La Crescenta 91214 La Habra Heights 90631 La Mirada 90638 La Puente 91744 La Puente 91746 La Verne 91750 LA/Baldwin Hills 90008 LA/Bel-Air 90077 LA/Boyle Heights 90033 LA/Brentwood 90049 LA/Century City 90067 LA/City of Commerce 90040 LA/Eagle Rock 90041 LA/ East L.A. 90022 LA/Echo Park 90026 LA/El Sereno 90022 LA/Firestone Park 90001 LA/Glassell 90065 LA/Highland Park 90042 LA/Hollywood 90028 LA/Hollywood 90068 LA/Ladera Heights 90056 LA/Lincoln Heights 90031 LA/Mar Vista 90066 LA/Rancho Park 90064 LA/Sanford 90005 LA/View Park/ 90043 Windsor Hills LA/Watts 90002 LA/West LA 90025 LA/Westchester 90045 LA/Westwood 90024 Lake Hughes 93532 Lakewood 90712 Lakewood 90713 Lakewood 90715
Information deemed reliable, accuracy is not guaranteed.
Lancaster Lancaster Lancaster Lawndale Littlerock Llano Lomita Long Beach Long Beach Long Beach Long Beach Long Beach Long Beach Long Beach Long Beach Long Beach Long Beach Long Beach Lynwood Malibu Manhattan Beach Marina Del Rey Maywood Mission Hills Monrovia Montebello Monterey Park Monterey Park Montrose Newhall North Hills North Hollywood North Hollywood North Hollywood North Hollywood Northridge Northridge Northridge Norwalk Pacific Palisades Pacoima Palmdale Palmdale Palmdale Palmdale Palos Verdes Pen. Panorama City Paramount Pasadena Pasadena Pasadena Pasadena Pasadena Pasadena Pearblossom Pico Rivera Playa Del Rey Playa Vista Pomona Pomona Pomona Rancho P.V. Redondo Beach Redondo Beach Reseda Rosemead Rowland Heights San Dimas
93534 93535 93536 90260 93543 93544 90717 90802 90803 90804 90805 90806 90807 90808 90810 90813 90814 90815 90262 90265 90266 90292 90270 91345 91016 90640 91754 91755 91020 91321 91343 91601 91602 91605 91606 91324 91325 91326 90650 90272 91331 93550 93551 93552 93591 90274 91402 90723 91101 91103 91104 91105 91106 91107 93553 90660 90293 90094 91766 91767 91768 90275 90277 90278 91335 91770 91748 91773
San Fernando San Gabriel San Gabriel San Marino San Pedro San Pedro Santa Clarita Santa Clarita Santa Fe Springs Santa Monica Santa Monica Santa Monica Santa Monica Santa Monica Sherman Oaks Sherman Oaks Sierra Madre Signal Hill South Gate South Pasadena Stevenson Ranch Studio City Sun Valley Sunland Sylmar Tarzana Temple City Topanga Torrance Torrance Torrance Torrance Torrance Tujunga Valencia Valencia Valley Village Van Nuys Van Nuys Van Nuys Van Nuys Venice Walnut West Covina West Covina West Covina West Hills West Hollywood West Hollywood/LA West Hollywood/LA West Hollywood/LA Westlake Village Westlake Village Whittier Whittier Whittier Whittier Whittier Whittier Wilmington Winnetka Woodland Hills Woodland Hills
91340 91775 91776 91108 90731 90732 91350 91390 90670 90401 90402 90403 90404 90405 91403 91423 91024 90755 90280 91030 91381 91604 91352 91040 91342 91356 91780 90290 90501 90502 90503 90504 90505 91042 91354 91355 91607 91401 91405 91406 91411 90291 91789 91790 91791 91792 91307 90069 90038 90046 90048 91361 91362 90601 90602 90603 90604 90605 90606 90744 91306 91364 91367
ORANGE COUNTY
ZIP CODES
A list of Orange County zip codes for quick reference
Aliso Viejo (92656)
Fullerton (92831)
Laguna Beach (92651)
San Juan Capistrano (92675)
Aliso Viejo (92698)
Fullerton (92832)
Laguna Beach (92652)
San Juan Capistrano (92693)
Anaheim (92801)
Fullerton (92833)
Laguna Hills (92653)
Santa Ana (92701)
Anaheim (92802)
Fullerton (92834)
Laguna Hills (92654)
Santa Ana (92702)
Anaheim (92803)
Fullerton (92835)
Laguna Niguel (92607)
Santa Ana (92703)
Anaheim (92804)
Fullerton (92836)
Laguna Niguel (92677)
Santa Ana (92704)
Anaheim (92805)
Fullerton (92837)
Laguna Woods (92637)
Santa Ana (92705)
Anaheim (92806)
Fullerton (92838)
Lake Forest (92630)
Santa Ana (92706)
Anaheim (92807)
Garden Grove (92840)
Los Alamitos (90720)
Santa Ana (92707)
Anaheim (92808)
Garden Grove (92841)
Los Alamitos (90721)
Santa Ana (92711)
Anaheim (92809)
Garden Grove (92842)
Midway City (92655)
Santa Ana (92712)
Anaheim (92812)
Garden Grove (92843)
Mission Viejo (92690)
Santa Ana (92725)
Anaheim (92814)
Garden Grove (92844)
Mission Viejo (92691)
Santa Ana (92735)
Anaheim (92815)
Garden Grove (92845)
Mission Viejo (92692)
Santa Ana (92799)
Anaheim (92816)
Garden Grove (92846)
Newport Beach (92658)
Seal Beach (90740)
Anaheim (92817)
Huntington Beach (92605)
Newport Beach (92659)
Silverado (92676)
Anaheim (92825)
Huntington Beach (92615)
Newport Beach (92660)
Stanton (90680)
Anaheim (92850)
Huntington Beach (92646)
Newport Beach (92661)
Sunset Beach (90742)
Anaheim (92899)
Huntington Beach (92647)
Newport Beach (92662)
Surfside (90743)
Atwood (92811)
Huntington Beach (92648)
Newport Beach (92663)
Trabuco Canyon (92678)
Brea (92821)
Huntington Beach (92649)
Newport Coast (92657)
Trabuco Canyon (92679)
Brea (92822)
Irvine (92602)
Orange (92856)
Tustin (92780)
Brea (92823)
Irvine (92603)
Orange (92857)
Tustin (92781)
Buena Park (90620)
Irvine (92604)
Orange (92859)
Tustin (92782)
Buena Park (90621)
Irvine (92606)
Orange (92862)
Villa Park (92861)
Buena Park (90622)
Irvine (92612)
Orange (92863)
Westminster (92683)
Buena Park (90624)
Irvine (92614)
Orange (92864)
Westminster (92684)
Capistrano Beach (92624)
Irvine (92616)
Orange (92865)
Westminster (92685)
Corona del Mar (92625)
Irvine (92617)
Orange (92866)
Yorba Linda (92885)
Costa Mesa (92626)
Irvine (92618)
Orange (92867)
Yorba Linda (92886)
Costa Mesa (92627)
Irvine (92619)
Orange (92868)
Yorba Linda (92887)
Costa Mesa (92628)
Irvine (92620)
Orange (92869)
Cypress (90630)
Irvine (92623)
Placentia (92870)
Dana Point (92629)
Irvine (92697)
Placentia (92871)
East Irvine (92650)
La Habra (90631)
Rancho Santa
El Toro (92609)
La Habra (90632)
Margarita (92688)
Foothill Ranch (92610)
La Habra (90633)
San Clemente (92672)
Fountain Valley (92708)
La Palma (90623)
San Clemente (92673)
Fountain Valley (92728)
Ladera Ranch (92694
San Clemente (92674)
Information deemed reliable, accuracy is not guaranteed.
RIVERSIDE COUNTY
ZIP CODES
A list of Riverside County zip codes for quick reference Aguanga (92536) Anza (92539) Banning (92220) Beaumont (92223) Blythe (92225) Blythe (92226) Cabazon (92230) Calimesa (92320) Cathedral City (92234) Cathedral City (92235) Coachella (92236) Corona (92877) Corona (92878) Corona (92879) Corona (92880) Corona (92881) Corona (92882) Corona (92883) Desert Center (92239) Desert Hot Springs (92240) Desert Hot Springs (92241) Hemet (92543) Hemet (92544) Hemet (92545) Hemet (92546) Homeland (92548) Idyllwild (92549) Indian Wells (92210) Indio (92201) Indio (92202) Indio (92203) La Quinta (92247) La Quinta (92248) La Quinta (92253) Lake Elsinore (92530) Lake Elsinore (92531) Lake Elsinore (92532)
March Air Reserve Base (92518) Mecca (92254) Menifee (92584) Mira Loma (91752) Moreno Valley (92551) Moreno Valley (92552) Moreno Valley (92553) Moreno Valley (92554) Moreno Valley (92555) Moreno Valley (92556) Moreno Valley (92557) Mountain Center (92561) Murrieta (92562) Murrieta (92563) Murrieta (92564) Norco (92860) North Palm Springs (92258) Nuevo (92567) Palm Desert (92211) Palm Desert (92255) Palm Desert (92260) Palm Desert (92261) Palm Springs (92262) Palm Springs (92263) Palm Springs (92264) Perris (92570) Perris (92571) Perris (92572) Perris (92599) Rancho Mirage (92270) Riverside (92501) Riverside (92502) Riverside (92503) Riverside (92504) Riverside (92505) Riverside (92506) Riverside (92507)
Information deemed reliable, accuracy is not guaranteed.
Riverside (92508) Riverside (92509) Riverside (92513) Riverside (92514) Riverside (92515) Riverside (92516) Riverside (92517) Riverside (92519) Riverside (92521) Riverside (92522) San Jacinto (92581) San Jacinto (92582) San Jacinto (92583) Sun City (92585) Sun City (92586) Sun City (92587) Temecula (92589) Temecula (92590) Temecula (92591) Temecula (92592) Temecula (92593) Thermal (92274) Thousand Palms (92276) Whitewater (92282) Wildomar (92595) Winchester (92596) Compliments of...
SAN BERNARDINO COUNTY
ZIP CODES
A list of San Bernardino County zip codes for quick reference Adelanto (92301)
Guasti (91743)
Rancho Cucamonga (91701)
Trona (93592)
Amboy (92304)
Helendale (92342)
Rancho Cucamonga (91729)
Twentynine Palms (92277)
Angelus Oaks (92305)
Hesperia (92340)
Rancho Cucamonga (91730)
Twentynine Palms (92278)
Apple Valley (92307)
Hesperia (92344)
Rancho Cucamonga (91737)
Twin Peaks (92391)
Apple Valley (92308)
Hesperia (92345)
Rancho Cucamonga (91739)
Upland (91784)
Baker (92309)
Highland (92346)
Red Mountain (93558)
Upland (91785)
Barstow (92311)
Hinkley (92347)
Redlands (92373)
Upland (91786)
Barstow (92312)
Joshua Tree (92252)
Redlands (92374)
Victorville (92392)
Big Bear City (92314)
Lake Arrowhead (92352)
Redlands (92375)
Victorville (92393)
Big Bear Lake (92315)
Landers (92285)
Rialto (92376)
Victorville (92394)
Bloomington (92316)
Loma Linda (92350)
Rialto (92377)
Victorville (92395)
Blue Jay (92317)
Loma Linda (92354)
Rimforest (92378)
Vidal (92280)
Bryn Mawr (92318)
Loma Linda (92357)
Rimforest (92378)
Wrightwood (92397)
Cedar Glen (92321)
Lucerne Valley (92356)
Running Springs (92382)
Yermo (92398)
Cedarpines Park (92322)
Ludlow (92338)
San Bernardino (92401)
Yucaipa (92399)
Chino (91708)
Lytle Creek (92358)
San Bernardino (92402)
Yucca Valley (92284)
Chino (91710)
Mentone (92359)
San Bernardino (92403)
Yucca Valley (92286)
Chino Hills (91709)
Montclair (91763)
San Bernardino (92404)
Cima (92323)
Morongo Valley (92256)
San Bernardino (92405)
Colton (92324)
Mountain Pass (92366)
San Bernardino (92406)
Crest Park (92326)
Mt Baldy (91759)
San Bernardino (92407)
Crestline (92325)
Needles (92363)
San Bernardino (92408)
Daggett (92327)
Newberry Springs (92365)
San Bernardino (92410)
Earp (92242)
Nipton (92364)
San Bernardino (92411)
Essex (92332)
Ontario (91758)
San Bernardino (92412)
Fawnskin (92333)
Ontario (91761)
San Bernardino (92413)
Fontana (92331)
Ontario (91762)
San Bernardino (92414)
Fontana (92334)
Ontario (91764)
San Bernardino (92415)
Fontana (92335)
Oro Grande (92368)
San Bernardino (92418)
Fontana (92336)
Parker Dam (92267)
San Bernardino (92423)
Fontana (92337)
Patton (92369)
San Bernardino (92424)
Forest Falls (92339)
Phelan (92329)
San Bernardino (92427)
Fort Irwin (92310)
Phelan (92371)
Skyforest (92385)
Grand Terrace (92313)
Pinon Hills (92372)
Sugarloaf (92386)
Green Valley Lake (92341)
Pioneertown (92268)
Trona (93562)
Information deemed reliable, accuracy is not guaranteed.
Compliments of...
T H E R E A LT O R ’ S G U I D E What are Propositions 60 & 90? They are constitutional initiatives passed by California voters. They provide property tax relief by preventing reassessment when a senior citizen sells his/her existing residence and purchases or constructs a replacement residence with a value equal to or less than the original.
Who Qualifies? The seller of the original residence, or spouse who resides with the seller, must be at least 55 years of age at the time of the sale.
When are These Propositions Effective? The replacement residence must have been purchased or constructed on or after November 5, 1986 if the original was located in Los Angeles County, or after November 9, 1998 if it was located in any other California County. Claims must be filed within three years following the purchase of the replacement residence.
Eligibility Requirements: 1. The replacement property must be the owner’s principal residence and eligible for the Homeowners’ Exemption. The original property, at the time of its sale, must have been eligible for the Homeowners’ Exemption, or entitled to the Disabled Veterans’ Exemption. 2. The seller of the original residence, or a spouse residing with the seller, must be at least 55 years of age, as of the date that the original property is transferred. 3. The replacement property must be of equal or lesser “current market value” than the original.
4. If the replacement is purchased in Los Angeles County, the original can be located in Los Angeles County or any other California County. Twelve other counties have passed similar Proposition 90 Local Option Ordinances. If the original residence is in Los Angeles County, and you want to relocate in another county, contact that county for Proposition 90 eligibility. 5. The replacement property must be purchased or newly constructed within two years (before or after) the sale of the original property. 6. The owner must file an application within three years following the purchase date or new construction completion date of the replacement property. 7. This is a one-time only filing. Proposition 60/90 relief cannot be granted if the claimant, or spouse, was granted relief in the past. 8. Proposition 60/90 relief includes, but is not limited to: single family residences, condominiums, units in planned unit developments, cooperative housing corporation units or lots, community property apartment units, mobile homes subject to local real property tax, and owners’ living premises which are a portion of a larger structure. 9. In most instances, if more than one owner of an original property is eligible for Proposition 60/90, they must choose among themselves which one will use the benefits.
Commonly Asked Questions: Q: Is it true that only one claimant need be at least age 55 as of the date of the sale of an original property in order to qualify? A: Yes. The principal claimant/occupant of his/her spouse must be age 55.
Q: If I get Proposition 60/90 benefits will I still have to file for a Homeowners’ Exemption on the replacement property? A: Yes. You must file for a Homeowners’ Exemption on the replacement property. It is not granted automatically. Q: What is the filing deadline? A: Within three years of purchasing or completing new construction of the replacement property. Q: Can a claimant transfer the factored base year value from an original single family residence to a replacement duplex or multi-unit residence (living in one unit and renting the others)? A: Yes. The owner could carry the factored base year value of the original property to that portion of the replacement parcel that is his/her principal place of abode, and the land that constitutes a reasonable size to embody a site for the residence. However, that portion comprising the abode must be of equal or lesser value than the original property. The rest of the parcel will be appraised at its market value.
The following counties have elected to participate in this program: Alameda • (415) 272-3755 Los Angeles • (213) 974-3101 Santa Clara • (408) 299-4347 San Mateo • (415) 363-4500 Orange • (714) 834-2746 San Diego • (619) 531-5507 Ventura • (805) 654-2176
Obtain Signatures Process Financing
Order Title Search Receive and Review Preliminary Report Receive Demands (if any) Request Clarification of Other Liens (if any) and Review Taxes on Report Receive Demands and Enter into File
Request or Prepare New Loan Application
Request Beneficiary Statement Request Beneficiary Statement and Enter Into File Review Terms of Transfer and Current Payment Status (Prior Approval is Necessary to Record)
Obtain Loan Approval and Determine that Terms are Correct
Request Loan Documents
Review file to Determine that All Conditions have Been Met and that All Documents are Correct and Available for Signature
(Termite inspection, contingencies released, fire insurance ordered, additional documents [second deed of trust, bill of sale, etc.] have been prepared.)
Figure file and Request Signature on All Remaining Documents Forward Documents to Title Company
Obtain Funds From buyer Request Loan Funds Funds Order Recording Close File Prepare Statements and Disburse Funds Complete Closing Forward Final Documents to All Interested P arties (Buyer, Seller, Lender)
Return Loan Documents
LIFE OF AN ESCROW
Prepare Escrow Instruments and Pertinent Documents