At WRT we help investors save money!

Title Tip…Working with Investors? Let WRT save them $$$ by issuing an insurance binder.

If a buyer/investor is planning on flipping a property within 2 years, WRT can save them a significant amount of money!  Your client would be charged just 10% of the base premium at his/her initial purchase for the binder.  Then at the time of the flip/resale, the investor would pay the difference in title premium between the purchase price and sale price.  This saves them hundreds of dollars! Contact your sales representative for more information.

Title Term:
Insurance Binder – a temporary contract of insurance in which the title company agrees to issue a specified policy within a certain period of time. (The binder must be requested before the property being purchased closes escrow).

Please Note: The binder contract is valid for a period of (2) years from the date of issuance and may be extended for an additional year (for an additional fee) if requested prior to the end of the initial two year period.

Please contact your title representative with any questions.

Happy Memorial Day!

This Memorial Day, please set aside some time to observe a moment of silence in honor of our heros and heroines who sacrifice(d) or risk(ed) their lives for our country and our freedom.  We, your business partners at WRT, wish you and your families a very safe and enjoyable Memorial Holiday weekend. 

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Please be advised that our office as well as all county recorders offices will be closed on Monday, May 25, 2015 in observance of this federal holiday!


California Homeowner’s Exemption Vs. California Homestead Exemption

What Is The Difference?

Homeowner’s Exemption

Screen Shot 2015-05-14 at 10.58.27 PMA homeowner’s exemption is just a property tax exemption.  The California state constitution provides for the exemption of up to $7,000 in assessed value from property tax assessment of any property owned and occupied as the owner’s principal place of residence.  This means that the exemption removes up to $70 from your annual property tax bill. This may not seem like much, but it’s easy to obtain, and it adds up!  There’s no reason to forgo the benefit.

In order to qualify for the exemption for property, you must be its owner or co-owner, and must use the property as your principle place of residence (Vacation homes don’t count!).  Any place you own as your principle place of residence, and that is also subject to property tax, qualifies.  You also have to file an exemption claim form with the County Assessor.  Luckily, once the exemption has been granted, you won’t need to re-file the claim unless the title on the deed to the property changes.

There is one catch: if you plan to refinance your home, or plan to move your home out of (or into) a living trust, note that doing so may require you to change the title on the deed to the property.  Each time you do so, you will have to re-file your exemption claim, to ensure that you continue to receive the exemption.

Homestead Exemption

A homestead exemption, on the other hand, is an entirely different (and slightly more complicated) animal.  It is a bankruptcy exemption intended to help protect people from losing their homes to creditors.  If someone is sued for money and loses, the creditor can satisfy the amount of the judgment (translation: ensure they get paid) by selling assets belonging to the debtor, including the debtor’s home.  The California homestead exemption protects the homeowner’s equity up to the amount of the exemption even if the home is sold.  The point is to ensure that debtors and their families have some money remaining to invest in a new home, should their current home be sold involuntarily.  The exemption applies to every person who lives in a dwelling; the dwelling can be a home, trailer, mobile home, boat, etc.

Click here for more details regarding Homestead Protection.

Happy Mother’s Day!

To All The Deal Makers:
If you are a mom, you are a great “deal-maker.”

You are the shrewdest of negotiators
And a true master of your craft.
You know exactly what it takes
To remove All contingencies
And get the job done.

If you are a great “deal-maker,”
Then you owe your mom FULL commission,
In love and appreciation,
For brokering the best escrow of her life!

-Marcus Jacques
Mother‘s Day