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The Importance of Knowing Your Real Estate Professionals

Nearly every person involved in a real estate transaction, with the exception of the buyer and seller, will need to maintain a professional license of some kind. At considerable taxpayer time and expense, databases for most of these licensed professionals are available online and can be searched by name, license number, or both. A prudent buyer or seller owes it to themselves to search these databases for every professional involved in their transaction.

These databases can usually be found through a simple Internet search. To help begin your search, here are some links to databases for the professionals most commonly involved in real estate transactions:

It is important to review the license status of all the professionals involved in your transaction, including those representing the other side. Many of these professionals owe a duty to share information with all of the parties and inaccurate information, or misinformation, from one professional can have far reaching consequences. If a professional does not show up on your search, or appears with a notable disciplinary record, we recommend you proceed with extreme caution and/or consult legal counsel for your available options.

If your real estate brokerage is a corporation (and most are), it is essential that you also check the California Secretary of State to confirm the corporation is still active.

California allows many different professional (brokers, attorneys, insurance companies) to act as an escrow. If you are not using an escrow licensed by the California Department of Business Oversight, you should check the license status for the professional that is acting as your escrow.

At Schorr Law, our team of Los Angeles Real Estate Attorneys  attorneys pride ourselves on providing valuable advice regarding all aspects of real estate transactions including understanding the role various professionals play in the transaction.  For assistance with your real estate matter, contact us today at  (310) 954-1877 or info@schorr-law.com. You can also send us a message by using our Contact Form.

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