Northern California Real Estate Transactions

By admin ~ July 13th, 2009. Filed under: Realtor License.

Section 4 of the standard California Association of Realtor contract for the purchase of residential property is called “Allocation of Costs.” It deals with whether the buyer or the seller pay for termite inspection, home inspection, smoke detector installation etc. The most costly items which seller and buyer negotiate are;

Who Pays What in Northern California Real Estate Transactions?

– Recording fees

– Title insurance

– Escrow Fees

– County and City transfer tax.

Anything can be negotiated and becomes binding on the parties who sign the contract; however, there are certain customs which differ from county to county as to who pays what.

The following list gives an overview about counties in and close to the Bay Area and the customary allocation of certain costs.

When your Real Estate Agent writes your purchase contract, make sure he marked the right check boxes.

In a buyer’s market, buyers need not stick to customs but can ask for more. Many sellers cannot pay the higher interest rates and are happy to get out of a property, even if it means that they pay costs they would not have paid two years ago.

Alameda
Recording Fees:Buyer
Title Insurance:Buyer
Escrow Fees:Buyer
County Transfer Tax:Seller
City Transfer Tax:Split

Contra Costa
Recording Fees:Buyer
Title Insurance:Buyer
Escrow Fees:Buyer
County Transfer Tax:Seller
City Transfer Tax:Negotiable

Marin
Recording Fees:Buyer
Title Insurance:Buyer
Escrow Fees:Buyer
County Transfer Tax:Seller
City Transfer Tax:Seller

Napa
Recording Fees:Buyer
Title Insurance:Buyer
Escrow Fees:Buyer
County Transfer Tax:Seller
City Transfer Tax:

Sacramento
Recording Fees:Buyer
Title Insurance:Seller
Escrow Fees:Seller or Split
County Transfer Tax:Seller
City Transfer Tax:Split

San Francisco
Recording Fees:Buyer
Title Insurance:Buyer
Escrow Fees:Buyer
County Transfer Tax:Seller
City Transfer Tax:

San Mateo
Recording Fees:Buyer
Title Insurance:Buyer
Escrow Fees:Buyer
County Transfer Tax:Seller
City Transfer Tax:Seller or Split

Santa Clara
Recording Fees:Buyer
Title Insurance:Seller
Escrow Fees:Seller
County Transfer Tax:Seller
City Transfer Tax:Seller or Split

Solano
Recording Fees:Buyer
Title Insurance:Buyer
Escrow Fees:Buyer
County Transfer Tax:Seller
City Transfer Tax:Seller

Sonoma
Recording Fees:Buyer
Title Insurance:Buyer
Escrow Fees:Buyer
County Transfer Tax:Seller
City Transfer Tax:Seller

Yolo
Recording Fees:Seller
Title Insurance:Seller
Escrow Fees:Seller
County Transfer Tax:Seller
City Transfer Tax:Seller

useful links: http://www.car.org

Author: Nicolai Nielsen

Nicolai Nielsen is an MBA and a broker in California.

Article Source: http://EzineArticles.com/?expert=Nicolai_Nielsen

Guide To How California Real Estate Fees

Escrow is a third party agent that receives, holds, and disburses the funds and documents for the real estate transaction. This fee is usually paid by the buyer in northern California and by the seller in southern California.

Real Estate Blog – Northern California

This 2-hour event for consumers is being sponsored by Marin Modern Real Estate and San Francisco Modern Real Estate and will feature experts in the field of architecture, building, real estate, and finance. Tomales bay california (1), top producer alternatives (1), transaction management (1), upper lucas valley (2), using testimonials (1), vanity websites (2), virtual tour (1), virtual tours (1), waterfalls in marin (1), webbased transactions.

Real Estate California Foreclosures

Great post hopefully consumers read this blog on here and on the CA Real Estate Blog. Sometimes borrowers don’t know the legal aspects regarding defaulting on their mortgage.

Realty World Northern California & Nevada

They were also signing up for a monthly fee structure that is based on their past year’s transactions just to have extra photos and their contact information included with their listings. This is one more reason why I am a Franchisee with Realty World Northern California. We have it all, And for those that are just now waking up to the fact that several real estate institutions and companies are selling our own data back to us.