Wednesday, June 20, 2012

So What is A Preliminary Title Report All About?

ImageWhen buying real estate you will be present with many documents that look unfamiliar to you. Your agent should be able to explain each one to you and why it matter. Here is an outline of what the Preliminary Title Report Contains and the things you should look for in this document.

VestingMake sure the names on the Preliminary Title Report are the correct names and that the property is the same as the property on the purchase contract.

Taxes and Assessments-  In addition to looking for special tax districts you might not have been told about you can look for an exemption or classification designation that would change the tax amount as a result of the sale. It is common, in California, for properties to be reassessed upon sale.

Deed of Trust –  To make sure all debts on the property are being paid off in your transaction be sure all paid off Deeds of Trusts are reconveyed. Upon proof of payment and/or an indemnity, the title company may insure around the encumbrance.

Identity Matters As a buyer you will provide a  ‘Statement of Information’ which can clear up identity issues that may arise. The seller will have to do one as well. If there are judgments and liens that belong to the party in question and have been paid then a release or satisfaction must be obtained and recorded or filed to eliminate the matter.

Pending Actions A civil action affecting real property generally will have to be dismissed before title can insure. A divorce or probate doesn’t have to be finalized but special requirements may exist. Check with your Title Rep. or Title Officer for more information.

Joint Use Matters Driveways, common walls and most easements may prompt Lenders to require a joint maintenance agreement. The preliminary title report will show such agreements if one is on record.

Extended Coverage Matters If a physical inspection of the subject property disclosesencroachments, lien rights, or other matters, these must be addressed before the lender will close. An extended coverage owner’s policy may be requested and a survey of the property will be required. Although this type of situation would delay your closing it is imperative that you get it done before you let the proeprty transfer.

Legal Description - The legal description should always be compared to the legal descriptionin the purchase and sale agreement to be sure that all the property being conveyed has been included in the preliminary title report. I see this most commonly when there has been additional acreage added to the property or multiple buildings exist. In anycase be sure that all property is included in the legal description.

While basic the above gives you a great start on understanding why this document is important and what you need to do with the information contained in it.


Wednesday, June 6, 2012

The Most Expensive Home For Sale In The Desert

While Suzanne Sommers' place is still on the market in the Mesa in Palm Springs - for 17 million 500 thousand the new champ for high dollar homes is this 12,000 square foot home in Rancho Mirage. Perched high above the valley floor the architecture is modern and dramatic as are the views.

See the most expensive home for sale in the Coachella Valley

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Michael Layton
Realty One Group

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MLS#: 41447111

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3842 Eastgate Rd
Palm Springs, CA
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Palm Springs CA Newer Construction

$ Click for current price
2 BATHROOMS (2 full)
1835 Square Feet

Are you ready to move right in? Well this home is ready for you! Beautiful newer construction, barely lived in. 3 Bed 2 bath - lots of living space. Fully landscaped yard means you truly can move right in. All of the appliances are included with this home.

Awesome mountain views grace the western side of this home. A private walled yard offers plenty of space for whatever your imagination can hold. On the South side of the house is a gate and concrete drive to access the back yard - RV? quads? Boat? even that is already taken care of for you.

Beautiful tile floors throughout most of the living areas. Truly secluded Master suite on the opposite side of the house from the other bedrooms. Massive walk in closet and double vanities in the bath. Master also has a slider to the back yard.

Kitchen is huge with loads of cabinets and newer appliances. open to the family room and dining perfect for big family gatherings or dinner parties. Secondary bedrooms are down a private hallway and separated by a full bath. Home has a double garage and a full sized laundry room.

You can look at every house on the market but few will measure up to the features and amenities.

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Just Sold - Rancho Mirage Condo

69737 Campana Ct Rancho Mirage, CA

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Call: 760-408-5300 for more information on this or any other property.
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What a price for Rancho Mirage - Gated community on land you own! They simply dont make them like this anymore. Spacious park like grounds with walkways, tennis, pools and spas. It is like living in a park. The unit has 3 bedrooms and 2 baths. One bedroom and one bath are located on the lower level for maximum flexibility. Large living room with vaulted ceiling is airy and open. The kitchen is remodeled and features a cleverly disguised stack washer dryer unit. There is also a formal dining room. A private gated patio leads to your own carport. The front of the unit over looks a grassy greenbelt and mountain views to the south. Check this one out today.

69737 Campana Ct,
Rancho Mirage, CA 92270
2 Bedrooms
Bathrooms: 1 full, 1 ¾ bath
List Price : Get Current Price
Living Area Approx :1350

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