The Foreign Investment in Property Tax Act (FIRPTA) is a certificate of non-foreign status. FIRPTA addresses the disposition of U.S. real property interest by a foreign person. Section 1445 of the Internal Revenue Code requires that all transferees (buyers) of real property owned by a foreign...
Starting January 1, 2017, water conservation retrofitting goes statewide for single family dwellings. All homes built on or before January 1, 1994 are required to update to complying water conserving fixtures on or before January 1, 2017. Commercial buildings and multi-family units built prior to...
On July 26, 2016, the Financial Crimes Enforcement Network ("FinCEN"), a bureau of the United States Department of Treasury, issued a Geographical Targeting Order ("GTO") requiring title insurers, their subsidiaries and agents, to report certain information in connection with the purchase of 1-4 unit residential...
Several cities have updated their retrofitting and property report requirements. We have the latest report requirements here on our website: https://americantrustescrow.com/city-property-report-requirements/. Check back often for updates!...
We did an analysis of what effect the #TRID implementation had on the median days to close for all closings before the 10/3/2015 implementation of TRID and all closings under the new rule which were opened after 10/3/2015. Here’s the data for Refis (R) and Resales (S). We have...
Mastering real estate photography is a tricky prophecy and one that requires years of practice. Since you likely don’t have the time to rush out and earn a Bachelor of Arts in photography from an arts college, here are some tips that can help make...
The CFPB is requiring that the owner’s policy be disclosed as “optional” due to the fact that unlike the lender’s policy which is required by most institutional lenders in the country, an owner’s title insurance policy is not a transactional requirement nationwide. This new descriptor was...
On October 9, 2015, the Los Angeles City Council passed an ordinance to establish mandatory standards for earthquake hazard reduction. Article1, Division 93 - Existing Buildings of wood-frame construction Applies to buildings where a permit for construction was applied for before 1/1/78 and the ground floor portion...
Prior to looking into the process of buying a home, the term "escrow" may be foreign to you. After you've been through it however, you quickly realize what an important part of the process escrow is and why prospective home buyers should learn more about...
In an effort to learn from mistakes from the past and safeguard for the future, the government is finally putting into an action a series of reforms and rules that would qualify lenders for residential mortgages. The measure also includes the creation of agencies such...
