Los Angeles County vs. Santa Clarita: Understanding the Cost Differences for Real Estate Transactions

Navigating Real Estate Costs in Los Angeles County and Santa Clarita

Pathway EscrowEscrow Services, Real Estate

Real estate agents need to be aware of the cost differences between properties located in Los Angeles County and the City of Santa Clarita. This information is crucial for sellers, as it helps them understand the costs associated with selling their property.

In Los Angeles County, properties within the county limits, including most of the San Fernando Valley, may be subject to additional costs. The transfer tax in Los Angeles County is $5.60 per thousand, while in Santa Clarita it is just $1.10 per thousand. Moreover, properties in Los Angeles County may also be required to undergo a retrofit inspection and make any necessary repairs, as well as pay for a Building and Safety 9a Application, which costs approximately $75.

Having a complete understanding of these cost differences is key to providing sellers with an accurate picture of what they can expect when selling their property. Pathway Escrow can assist you in obtaining all the necessary information to give your clients the best possible experience.

It’s important to remember that property taxes play a significant role in the costs associated with selling a property. As a real estate agent, it’s essential to advise your clients on the importance of paying their property taxes in a timely manner. The second installment of property taxes for 2023 is due on April 10th, and not paying this installment on time can result in additional fees or even result in the property being sold at auction.

In addition to property taxes, other fees may also be required, such as title insurance, recording fees, and appraisal fees. To ensure a smooth and stress-free transaction, it’s important to work with a knowledgeable escrow professional. Pathway Escrow has the experience and expertise to help you navigate the real estate process, so you can focus on providing the best possible service to your clients.

When it comes to real estate transactions, it’s essential to be informed and knowledgeable about the costs involved. Pathway Escrow is here to help, so reach out to us today to learn more about how we can assist you with your next real estate transaction.