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The California Department of Real Estate ( DRE) is a California state agency focused on safeguarding and promoting the public interest in real estate matters through licensure, regulation, education, and enforcement. Employees headquartered in Sacramento and in district offices in Oakland, Fresno, Los Angeles, and San Diego carry out the DRE's ...
Escrow. An escrow is a contractual arrangement in which a third party (the stakeholder or escrow agent) receives and disburses money or property for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties. Examples include an account established by a broker for holding funds on behalf ...
For decades, if you wanted a real estate agent to help you buy or sell a home, the model was static. At the close of escrow, the seller typically used their proceeds to pay a 5% to 6% commission ...
Double escrow. Double escrow is a set of real estate transactions involving two contracts of sale for the same property, to two different back-to-back buyers, at the same or two different prices, arranged to close on the same day. At close of escrow, all participants, lenders, sellers, buyers and brokers are informed of all parties involved and ...
Your location plays a major role in how much it costs to sell your house. As an example, let’s compare some of the costs of selling a home in California and Texas. Median home sale price (based ...
The most common types of escrow accounts used in real estate are: Real estate escrow. Mortgage escrow. The real estate escrow, also known as a pre-sale escrow, is designed to protect the buyer and ...
In a deed of trust, a person who wishes to borrow money conveys legal title in real property to a trustee, who holds the property as security for a loan ( debt) from the lender to the borrower. The equitable title remains with the borrower. [ 1] The borrower is referred to as the trustor, while the lender is referred to as the beneficiary.
An escrow account holds the portion of a borrower’s monthly mortgage payment that covers homeowners insurance premiums and property taxes. Escrow accounts also hold the earnest money the buyer ...