Considering the fact that the median sales price for a home in California is around $390,000, it’s no wonder that there are a lot of precautions involved in the California real estate industry — foreclosure requirements, zoning restrictions, building code violations, and many more issues. Consulting a real estate law firm can be just what you need to avoid any future problems, but there are also a few things you should be aware of just in case:
- In 2013, one out of every 96 homes reported at least one foreclose.
- Nearly one out of every 200 homes will be foreclosed.
- Because state laws have strict regulations, homeowners need to be notified of potential foreclosures and opportunities to pay before the property is actually foreclosed.
- If you believe that your home is at risk of being foreclosed, consult a real estate law firm immediately.
- Any property that is abandoned, according to title 10 of the California civil procedures code, is classified as “unclaimed property.” Property can remain unclaimed for three years. After that time — if no one claims the property — it transfers to the possession of the California government.
- California landlords must provide at least 60 days notice to a tenant about evicting them if they have lived on that property for more than one year.
- Real estate agents are required to disclose any deaths that occurred on a property within three years before the sale, according to California law.
- In California, it normally takes about 40 days to close on a house.
- Boundary disputes play a large role in many commercial property installments. Make sure to take any zoning restrictions into effect.
- Make sure to get any and all inspections done before completing a home purchase. There could be many things that go wrong if you wait, so it’s best to stay on top of everything.
- Every state is different, but typically, a closing date within four to 10 weeks is usually the case. Obviously, if there are problems at inspection, this could delay the process months if not handled properly.
If you’re not sure when to consult a real estate law firm and you’re in the middle of buying or selling a house, it’s probably best to consult with them right away. It’s better to go in well-prepared as opposed to not prepared at all. These firms will help you with things that you aren’t exactly comfortable with: eviction law, code violations, zoning restrictions, and general property law. They are there to help you and make your home buying or selling process as easy as possible.