California property tax law requires the assessor to reassess the property at the time of the property modification. Under this act, you can receive one or two additional tax bills depending on the closing date of your loan. Residential sales contracts generally contain promises and provisions that guarantee the condition of a property. In some states, sellers are required to provide additional documentation to ensure the status of the accommodation. While other states require the seller to reveal a certain type of problem on the ground, such as. B a material error. In California, in addition to the sales contract, you must complete the following documents: Water Heater Compliance Statement (B) – Real estate sellers must certify in writing that the water heater contained in the property is properly secured in order to avoid travel in the event of an earthquake. (The title form also contains the fire compliance statement.) Your lender normally needs a certificate issued by a California pest control inspector, which indicates that the house is free of termites and other pests. They may reserve the right to terminate the contract or seek immediate treatment and repair from the seller if damage to pests is found. This is the closing date of the sale and provides for the time that the property seller will give to the buyer. If you are buying a house in California, you must sign a sales contract. Normally, your realtor enters into a pre-printed sales contract.
You can make changes or additions to the contract, but the seller must accept any changes you make. You should also agree with the seller about the date of possession and what appliances and personal property are included in the home. They must agree with the seller on the distribution of co-cost costs related to the property, such as taxes, water and wastewater taxes, condominium taxes and electricity bills at the time of the count. Unless otherwise agreed, you should only be responsible for the portion of these expenses due after the sale date.