Frequently Asked Questions
Real Estate transactions can be very complex,
and no matter how experienced you may be with buying and selling, you
will still have questions. Tim's job is to get you answers to
every question, so please don't hesitate to ask them. You will
never be "brushed off". It is important that you know all of your
options, and understand fully what is involved in buying, or selling, a
property. Some questions are asked, and answered, during a
conversation. Others will be discussed in writing so you can refer
back to the information. In many cases, the answers to your
questions will come from the team, which includes our broker, and all
the other professionals, at Evergreen Realty.
What Is Cost of Ownership?
When calculating what it will cost to own a property, you initially think about your mortgage payment. You must also add in taxes, association fees, ongoing maintenance, utilities, insurance, and the cost of future repairs. When buying a home, be sure to determine the actual tax you will be charged, not what the previous owner paid in years past.
What Is Escrow ?
Escrow is a neutral third party who handles all of the money and paperwork in the purchase/sale of a property. The Escrow Officer works with all of the parties involved in the transaction, and files all of the documents with the appropriate parties. Finally, the EO makes sure all monies are received, and disbursed, according to the terms of the purchase contract.
How Much Can I Afford ?
We are currently handling a major financial crisis because people over extended when purchasing a home. Before you purchase a home you need a solid income, little debt, cash for a down payment, and reserves for future repairs and improvements. Call or write today to start a discussion on how to best assess your personal buying power. We can help you reach your goals.
What Is Mello Roos ?
Mello-Roos taxes are special assessments levied on properties when they are first developed. They are special tax districts used to finance public infrastructure including streets, elementary schools, parks, libraries. The taxes are levied for a defined period of time. Some developers paid the fees upfront, and those properties do not include Mello-Roos assessments. In South Orange County, many areas will see these special taxes expire in the coming years. You can find out when this will occur by reviewing the property tax bill, and then checking the specific assessments referenced. Mello-Roos taxes are not limited by Proposition 13.
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Or Call: (949) 589-3186 / (800) 504-6787
