Many cities have special requirements when it comes to buying or selling real estate. These items can range from a simple form to fill out, to a full housing inspection by the city, depending on which city, and the city’s current ordinances.
This can be confusing, and so Talbrook II Escrow Corp. has compiled a list containing each city requirement in this regard, for some of the most common cities in southern California. Read the rest of this entry »
A list of California City and County Transfer Taxes in PDF format, for your reference. When a property is sold, transfer tax is charged at a rate depending on the sales price. In addition to the County transfer tax, certain cities charge and ADDITIONAL transfer tax. Some cities do not have a separate city transfer tax. Traditionally the seller pays the transfer tax, but it like all other aspects of a Real Estate sale, this may be negotiated.
Click and download our California City and County Transfer Tax sheet, in Adobe PDF format.
Please be advised effective January 1, 2011, Riverside County now requires an affidavit, in addition to the standard PCOR, with any document to be recorded which conveys or amends title. Click to download the Documentary Transfer Tax Affidavit.
Mar 25
Tax credits are on again starting May 1 after the Governor signed AB 183 (Caballero). The new law provides $200 million to be divided between new homes and resales. The credits are available for escrows that close May 1 or later. Buyers will be able to use up to $3,333 in each of the three years after buying as a credit against taxes owed. See Governor Schwarzenegger’s press release for additional bill information.