Buying an REO in Manhattan Beach? Now you can choose closing companies.
Are you planning to buy a bank-owned home (REO – real estate owned)? Manhattan Beach is seeing a few foreclosed homes that did not sell at auction and are owned by the bank that holds the loan.
If you are planning to purchase a Manhattan Beach home owned by a bank, you as the buyer have the right use the escrow and title companies of your choice. Effective October 11, 2009, California Assembly Bill 957, the Buyer’s Choice Act, prohibits the bank that is selling the property from requiring that you use the escrow and title companies they prefer. Your Realtor® can provide referrals of reputable escrow and title companies to help your purchase go more smoothly.
This new law, which expires on January 1, 2015, applies to residential property up to four units. You can read the complete press release at www.bestmanhattanbeachhomes.com/AB957.htm
If you are planning to purchase a Manhattan Beach home owned by a bank, you as the buyer have the right use the escrow and title companies of your choice. Effective October 11, 2009, California Assembly Bill 957, the Buyer’s Choice Act, prohibits the bank that is selling the property from requiring that you use the escrow and title companies they prefer. Your Realtor® can provide referrals of reputable escrow and title companies to help your purchase go more smoothly.
This new law, which expires on January 1, 2015, applies to residential property up to four units. You can read the complete press release at www.bestmanhattanbeachhomes.com/AB957.htm
Labels: Bank Owned Homes
posted by Janie Sue Nagy at
7:34 PM
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