Kim, the selection of a qualified intermediary for your exchange is very important. Not only do they "hold your money", but they provide you with information about how to successfully complete your exchange. When it comes to holding your money, that's critical as well. I had a client who selected a company based solely on the interest they were going to pay on the money held, whose funds were not available at the required time for their exchange, due to the exchange company's shady dealings. we actually had to get the district attorney involved to get the funds released.
Choose a company that is bonded, and has a good reputation. Work with a knowledgable Realtor and ask for their recommendation. I typically recommend one of the national title companies who have exchange divisions, due to their track history with keeping people's funds secure. Feel free to call or e-mail me if you'd like more information.... more
I don't know if anyone answered you regarding your clients but I would be happy to help them find a home in our area. My email is email@example.com, my website is marciabowhay.com and my cell is 831-236-0814.
A buyer should ask his Realtor "what is the current property tax bill?" They need to then compare that to what they will be purchasing the property for.
If you are paying more for the property than the former owner did, your taxes will likely go up and you'll be "underpaying" the tax bill in escrow. Later on, the County Assessor will send you out a bill to correct that. If you pay less (this happens on a lot of bank owned homes right now), you will "overpay" the taxes in escrow and likely get a refund check or a credit. The tax assessor has a policy of only changing the property tax value at the beginning of the year, not at time of purchase.... more
Sue This is what many people do--rent first, then purchase once they arrive at a neighorhood, community, city or area they'd like to live in and travel about for their personal errands and lifestyle. There are many rentals in and about Carmel--check craigslist for monterey bay, several rental companies in town, or vacation rentals--many are fully furnished; and signs posted in front of the house for lease/rental situation.
If you need more, I can connect you further. Linda Shepard, REALTOR(R) Keller Williams Realty, Carmel Market Center; RealEstateLinda@sbcglobal.net... more
There are some other great homes out there now at some amazing prices and with interest rates floating around 5% makes this a great time to buy. Call or email if I can set you up for an automated email update for current and new listings @ www.TrackingHomes.com Bill Carmichael firstname.lastname@example.org 831-224-7718... more