Things You Should Know About California Real Estate

personal property lawBuying, selling, renting and owning property can be a tremendous hassle. If you’re unaware of what to do, you can easily become overwhelmed and miss out on important steps of the real estate process. Some of these mishaps can even cause legal trouble down the line, which is why it’s so important to consult with the pros.

Working with a real estate attorney who is knowledgeable on personal property law, foreclosures, renting property and various other aspects can prevent any issues involving your purchase or sale. In California, real estate law is a little different than other states and if you’re not from there or you’re not too knowledgeable on the topic, you’ll need help from experienced professionals.

Disclosure of Information
In California, real estate law states that it is required that all real estate agents inform you — the property buyer — about any death that has occurred on the property within three years of the sale. Experienced real estate attorneys know this, and the ones that try and sneak around important information like this shouldn’t even be in the industry. With regards to renting, a landlord in California must provide at least 60 days’ notice to the tenant informing them of an eviction.

Personal Property Law
Title 10 of the California civil procedures code states that any personal property that is lost shall be classified as “unclaimed property.” Personal property holds its unclaimed status for three years — as long as no one claims it — and is then transferred to the California government. Working with experienced attorneys who have been through numerous personal property law cases can help you get through any property law situation.

Documents Needed
To avoid any fraudulent issues in the future, it’s required that a few specific documents are in writing and readily available.

  • You must have all your leases documented and stored.
  • Document any and all commission agreements between realtor and buyer/seller.
  • Written contract for the actual sale or purchase of that property.

Price
The real estate price obviously varies depending on specific factors of each property. Zillow.com released a study in 2015 showing that the median price for home sales in California, however, was $393,000.

There are so many factors that go into buying and selling a property. It’s important to work with experienced professionals that you can trust. If you’re in need of real estate assistance, call us today!