Answer: Most realtors^® will provide a list of homes for sale in the area where you are seeking real property at no charge. You are also welcome to make an appointment with one of our agents for assistance in finding a new home with no obligation.

Answer: MLS stands for Multiple Listing Service. An MLS is an electronic database of real estate listings used to provide information to industry professionals.

Answer: The purpose of title insurance is to provide indemnity insurance against defects or liens in title to real property that may be discovered after its transfer. This is designed to protect lenders and owners against financial loss and liability.

Answer: Comparables is a term for the analysis of comparable properties in an area around a potential listing that have recently sold or that are currently on the market. The purpose of this analysis is to determine properly the best price at which to offer the property on the market to attract potential buyers.

Answer: An escrow is a formal process using a third party, typically an escrow company, who receives the contracts, holds deposits and loan monies that are borrowed, and in a single transaction called a "closing" records the title transfer of deeds, pays off existing liens, and transfers the title to the buyer and pays the seller the consideration bargained for in the sale.

Answer: A Realtor^® is a member of the National Association of Realtors^®, North America's largest trade organization². Realtors^® are real estate professionals who must meet educational, ethical, and established standards of excellence in the real estate field above and beyond Federal and State requirements. The NAR^®, CAR^® and SAR^® offer continuing education and a range of benefits to their members. The NAR^® has been in existence for over 100 years.

Answer: As a home owner, you will have a permanent interest in the real property you own. There are also personal, tax, and long term financial benefits to real property ownership.

Answer: Real property includes real estate of all different forms. It can be raw land, residences, commercial property and other forms of real property interest of a tangible nature. What it is not: personal property or any items that are not fixed to the land or to a building on the land.

Answer: This is a process whereby a seller who owes funds to a secured creditor, usually the beneficiary of a deed of trust in California, negotiates the sale of real property to a third party for an amount that is less than the sum owed and secured against the real property. California is experiencing many short sales because of the market reduction of real property values. Short sales should be handled by experienced realtors^® and sellers should consult a certified public accountant and an attorney regarding the legal and tax ramifications before proceding.

Answer: A foreclosure is a process whereby a lender uses a set of laws and procedures to enforce the terms of a secured loan agreement when a borrower fails to meet the terms of the agreement. Foreclosure is a method whereby the lender collects against the security in the real property for monies that are due. Foreclosure is a highly technical procedure and one should consult an attorney regarding any involvement in this process in any capacity.

Answer: California in most residential purchase situations uses a trust deed process whereby the borrower is designated as the trustor; the lendor or his asignee the beneficiary and a third party usually a title company who assists in the processing of the transaction is named as a trustee with powers and responsibilities that continue during the life of the loan for the benefit of the borrower and the lender, or the lender's asignee.

Answer: Amortization in relation to real property loans is a process of financing real estate. Amortization is a gradual repayment of a debt over time by regular installments consisting of both principal and interest.

Answer: "Under Section 1031 of the United States Internal Revenue Code (26 U.S.C. § 1031), the exchange of certain types of property may defer the recognition of capital gains or losses due upon sale, and hence defer any capital gains taxes otherwise due."¹

Answer: Yes. Please contact your CPA, EA or Attorney for details on how this may affect you.

Answer: A loan origination fee is the charge from the lender to the borrower for the cost of providing the loan. This is part of the negotiations between the buyer and their lender covering the cost of the loan, interest rate, and other related terms and conditions.