On September 25, 2008, the Governor of California signed Senate Bill 133 ("SB 133"), which became effective January 1, 2009. This new legislation instituted a program for the California Department of Insurance to register, regulate and monitor title company marketing representatives and addressed what the legislation referred to as the "problem of illegal rebates and inducements dispensed by title marketing representatives". The bill regulates who may be employed as a title marketing representative by forcing such individuals to obtain certain certificates and hold said certificates for certain lengths of time.
The changes to California Insurance Code Section 12404 under SB 133 impact existing title companies and their sales and marketing practices. In addition, there are severe penalties imposed upon a title sales representative found to be in violation of SB 133 including a 5 year revocation of license and monetary sanctions, as well as an investigation and potentially severe monetary sanctions against the Title Company, including up to a $10,000 fine.
Since January 1, 2009, there are a number of newly-prohibited activities and expenditures for Title Companies. One of the main prohibitions pertaining to the foreclosure sector is the prohibited activity of creating and/or providing marketing/informational materials that are not exclusively related to title insurance. For example, flyers related generally to short sales, foreclosures, REO processes, auction processes, tax issues, loan modifications and refinances, HELOCs, and new construction are prohibited unless they solely discuss how these items are handled in the title insurance process or how these items impact a preliminary title report and title policy. Hence the reason your California title company may no longer be able to provide you with notice of default listings. As an alternative I highly recommend you check out http://www.defaultresearch.com/ for obtaining pre foreclosure listings for your county.
Thursday, May 28, 2009
Monday, May 4, 2009
Affordable Improvements to Sell Your House
Despite recent improvements in the housing market, home sellers interested in selling quickly for the maximum dollar amount should consider making some small improvements to positively affect the bottom line and decrease time on the market. A home that appears well cared for with recent updates will stand out from the competition. Updates do not have to be a $50,000 newly renovated kitchen. Think small and spend your money wisely.
Start with the outside by checking curb appeal. Repair or replace a wobbly mail box and plant flowers around it. If your house numbers are hanging by a thread, it is time to replace them. Be sure to trim the shrubbery, as well as weed, edge, mulch flower beds, and plant flowers to add a splash of color close to your house. Could your front door use a coat of paint or a new lockset? Remember to mow your lawn, too. A house that looks well tended on the outside will draw buyers in.
On the inside, start at the ceiling and work your way down. Lighting fixtures older than you should probably be replaced. Replace broken or damaged electrical outlet and switch covers. Doorknobs that are worn or broken should also be replaced. If you cannot remember when a room was last painted, consider painting, but be sure to choose a neutral color. If your furniture is old or mismatched, consider slipcovers and some new, inexpensive throw pillows. If you have dirty carpet, rent a rug cleaner from your local home improvement center and get busy cleaning the carpets. This is especially important if you have pets or rooms with high foot traffic. Just because you do not smell your pet does not mean potential buyers cannot smell pet odor. Making your house look and smell its best will enable buyers to see themselves living there.
Another important and simple thing to help sell your house is to remove clutter and depersonalize. Do not distract your potential buyers with your personal collection of bobble heads. Your buyers’ attentions should be focused on your beautiful home and no place else. Since you are selling your house and moving, you might as well start packing up personal collections, photographs and other items for your move to a new home. Packing now will make the stressful time of moving day a little easier by having most of your things ready to go in the moving truck. When your house is being shown, do not forget to turn on every light in the house, and open all blinds and curtains to make your home appear light-filled and inviting.
Remember, you are selling space - make your entire home look as spacious as possible by placing your overflowing stored items from over-packed closets, basements, and sheds in a storage rental unit. As you would stage any other room in your home, stage your closets and storage areas with only a minimum amount of things you cannot live without while your house is on the market. Buyers will be impressed with how much storage space your house has if everything is not falling out of the closet as the door is opened.
There is really no need to break the bank to get your house sold quickly. A few well chosen updates as well as removing clutter by packing up personal items will work wonders in making your home appear more spacious and appealing to buyers.
Start with the outside by checking curb appeal. Repair or replace a wobbly mail box and plant flowers around it. If your house numbers are hanging by a thread, it is time to replace them. Be sure to trim the shrubbery, as well as weed, edge, mulch flower beds, and plant flowers to add a splash of color close to your house. Could your front door use a coat of paint or a new lockset? Remember to mow your lawn, too. A house that looks well tended on the outside will draw buyers in.
On the inside, start at the ceiling and work your way down. Lighting fixtures older than you should probably be replaced. Replace broken or damaged electrical outlet and switch covers. Doorknobs that are worn or broken should also be replaced. If you cannot remember when a room was last painted, consider painting, but be sure to choose a neutral color. If your furniture is old or mismatched, consider slipcovers and some new, inexpensive throw pillows. If you have dirty carpet, rent a rug cleaner from your local home improvement center and get busy cleaning the carpets. This is especially important if you have pets or rooms with high foot traffic. Just because you do not smell your pet does not mean potential buyers cannot smell pet odor. Making your house look and smell its best will enable buyers to see themselves living there.
Another important and simple thing to help sell your house is to remove clutter and depersonalize. Do not distract your potential buyers with your personal collection of bobble heads. Your buyers’ attentions should be focused on your beautiful home and no place else. Since you are selling your house and moving, you might as well start packing up personal collections, photographs and other items for your move to a new home. Packing now will make the stressful time of moving day a little easier by having most of your things ready to go in the moving truck. When your house is being shown, do not forget to turn on every light in the house, and open all blinds and curtains to make your home appear light-filled and inviting.
Remember, you are selling space - make your entire home look as spacious as possible by placing your overflowing stored items from over-packed closets, basements, and sheds in a storage rental unit. As you would stage any other room in your home, stage your closets and storage areas with only a minimum amount of things you cannot live without while your house is on the market. Buyers will be impressed with how much storage space your house has if everything is not falling out of the closet as the door is opened.
There is really no need to break the bank to get your house sold quickly. A few well chosen updates as well as removing clutter by packing up personal items will work wonders in making your home appear more spacious and appealing to buyers.
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