Make sure your offer contains all the contingencies or special conditions you want in the contract. These include your need to qualify for a credit, repairs that the seller must make prior to the fiduciary loan, as well as pest control inspections, home inspections, real estate guarantee programs and other specific items. Remember that if your offer is accepted and thus becomes a binding contract, non-compliance with the purchase could affect the return of your deposit. You should check the contract before signing it and make sure you understand it. If there are parts of the document that you do not understand, you need appropriate professional advice. If your real estate agent is unable to answer your questions correctly, contact their broker or seek legal advice. Make sure that the offer you sign does not contain spaces that can be filled out after signing. Also avoid giving cash such as a deposit or down payment. Instead, always use a cheque, order or cash check. This provides a permanent record of the money you deposited. For more information, see the purchase agreement and receipt for the deposit. California property tax law requires the assessor to reassess the property at the time of the property modification. Under this act, you can receive one or two additional tax bills depending on the closing date of your loan.
Renting may be more useful for a mobile lifestyle or if you need to move due to a change of job or other factors. If you do not plan to stay in your home for several years, sales costs and real estate commissions can result in the loss of the amount of equity you built for one or two years. Who must participate: all REALTOR® in the State of California who participate in the sales contract. If you use the services of a real estate licensee and you think they have mishanded your purchase transaction, you should file a complaint with the Department of Real Estate. Normally, you need enough savings to cover a down payment of 5% to 20% of the purchase price, plus 3% to 7% of that price for acquisition costs. If you do not have the down payment, you can qualify for a loan under various government programs available. Before you choose an agent, do your homework. Interview several real estate agents to determine their experience in the field you want to buy. Make sure the California Department of Real Estate (DRE) agent is properly authorized.