Santa Clairta Real Estate Tip #2:
When you are writing an offer on a home, and intend to include a credit/concession back from the seller for your closing costs, you may want to write in something to the effect that the credit is also to be applied toward your (the buyers) property tax proration.
Some REOs, Lenders, Banks, are not allowing for the buyers closing cost credit to be applied toward the property tax portion of the buyers closing costs. This leaves some buyers with an unexpected amount of closing costs due that they weren't planning on. They thought it was covered in the credit such as the one I described above. Last minute work-arounds are never preferred in a real estate transaction, as it can cause delays, or even the cancellation of an escrow.
Planning ahead and making sure you do what you can up-front in the purchase contract is always the best idea. Please consult with your real estate or mortgage professional for what's best for you in your particular situation.
Of course, for Santa Clarita real estate, you can always cal upon us at The Robert and Brian Team @ Realty Executives Valencia.
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