The tax year runs July 1-June 30. The time to file for the Homeowner's Exemption is from March 1st to April 15th. Once the exemption is on the property, it remains until the homeowner terminates it. Real estate taxes are pro-rated by the escrow company based upon the closing date. The seller is required to disclose to the buyer whether a property is in a fire, flood, mudslide or earthquake zone.
Most sellers obtain a report from an independent company to provide to the buyer.
The seller is required to sign a disclosure stating that he will provide smoke detectors as required by law. In addition, the water heater must be fitted with seismic straps. Any cost to provide this is paid by the seller. Before closing on the home, a termite inspection should be completed by a licensed pest company. A preliminary report will be issued and furnished to both the buyer and the seller.