Frequently Asked Questions
Selling a home in Montecito
What does the home-selling process look like?
Selling your home begins with preparation. Each home has its unique needs, but in general, this means light updates, photography, and marketing. Once listed, your agent manages showings, offers, and negotiations. After acceptance, escrow opens and inspections are scheduled. When contingencies are released, escrow arranges the closing and transfers the proceeds to your account upon close of escrow.
Note: California real estate law evolves frequently; always confirm details with your trusted real estate advisor.
Should I do repairs before listing?
Pre-sale inspections can help uncover issues early and minimize renegotiation during escrow. Many Montecito sellers choose to complete a general and pest inspection before listing their property.
What happens after I accept an offer?
Escrow opens, and you’ll receive a timeline of key dates. Buyers complete inspections, and you may receive a Request for Repairs. Once contingencies are removed and funding clears, escrow closes, and proceeds are wired.
How long does it take to sell a home in Montecito?
Timing depends on property type and price. Many homes sell within 30–60 days, while luxury estates may take longer depending on market activity.
What are seller closing costs?
Typical costs include real estate commissions, escrow and title fees, and county transfer taxes. Your escrow officer provides an estimate at the start of escrow to ensure transparency.
BUYING A HOME IN MONTECITO
What does the home-buying process look like in California?
Buying a home in California generally begins with defining your goals and securing pre-approval for financing (if purchasing with a loan). Once you’ve identified a property, your agent will help you submit an offer through the Residential Purchase Agreement.
If accepted, escrow opens—typically within one business day—and you’ll move into the due diligence phase, which includes inspections, disclosures, and lender verification. When contingencies are released and funds are wired, the title is recorded with the County, officially transferring ownership.
Note: California real estate law evolves frequently; always confirm details with your trusted real estate advisor.
What happens once my offer is accepted?
Once escrow is open, your escrow officer will share key dates and documents. During the inspection and contingency period, you’ll review reports, finalize financing, and prepare closing funds. After contingencies are released, escrow schedules recording—this is when you officially become the homeowner.
What are “closing costs”?
Closing costs include escrow, title, recording, and lender fees. In Santa Barbara County, they typically amount to 2–3% of the purchase price and are paid at or just before closing. Your escrow officer can provide a detailed estimate early in the process.
How long does escrow take?
Typical California escrows last 30–45 days, though cash transactions can close faster. Timelines vary depending on inspections, loan approval, and document completion.
What is a “Request for Repairs”?
After inspections, buyers may request credits, a price reduction, or repairs. This starts a short negotiation phase before contingencies are removed. It’s a standard step in most California transactions.
ESCROW BASICS
What is escrow?
Escrow is a neutral third party that holds funds and documents until both buyer and seller meet all conditions of the sale. Once everything is complete, escrow releases funds and records the title transfer with the County Recorder’s Office.
How do I protect myself from wire fraud?
Always verify wiring instructions by calling your escrow officer directly at a known number. Escrow companies will never change wiring instructions via email. Confirm before sending funds.
When does escrow officially close?
Escrow closes once funds are disbursed and the title is recorded with the County. You’ll receive confirmation of “recording” from your agent—the official handoff moment.
Local Details
Are there unique local disclosures or certifications?
Yes. Santa Barbara County requires specific disclosures, including defensible-space (fire safety) and water-conservation compliance. Your agent and escrow team will coordinate the necessary forms and inspections.
How should I handle utilities during a move?
Sellers provide buyers with a list of utility providers. Buyers should transfer accounts into their name, effective the day escrow closes, to prevent service interruptions.
The information provided on this page is for general educational purposes only and may not reflect the most current updates in California real estate law or Santa Barbara County regulations. Every transaction is unique. Please consult your trusted real estate advisor, escrow officer, or attorney for guidance tailored to your circumstances.