Conjuring Up a Down Payment

By
Real Estate Agent with GreatWest Realty DRE# 00827565

 

 

Awhile back I was trying to conjure new creative ways for buyers of real estate to come up with extra cash for a down payment. While talking through the fence with a neighbor about the topic, she exclaimed, "I'd need to go on a treasure hunt."

I thought about that for a minute, and decided to poke around on the internet and search for a website which might help a few Californians do just that - while going on a treasure hunt.

Some of you may recall news accountings about the State of California finally getting off their duffs, and trying to reunite Californians with their unclaimed property. 

For two decades, state laws restricted the Controllers office from contacting the owners of what amounted to more than 80% of all unclaimed property accounts sent to the State.  However, last August that practice ended when the Legislature passed and the Governor signed reforms that removed the laws, roadblocks and red tape from reuniting Californians with their property.

There is a really great California State Controller's Office website, and database, that allows you to search to see if you can find any unclaimed treasure in your name:

http://www.sco.ca.gov/col/ucp/index.shtml

Perhaps that new home for your family isn't as far off, as you may think!

Good Luck! 

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Rainer
15,934
Xinh Truong
Connect Realty.Com, Inc. - San Leandro, CA

This is pretty cool. I went to check it out, unfortunately and fortunately, I haven't lost any money.  Thanks, for the link and info

Jul 28, 2009 09:35 AM #1
Rainmaker
870,434
Debbie Walsh
Shahar Management - Middletown, NY
Hudson Valley NY Real Estate 845.283-3036

They have alot of these links for different states and areas and darn it none of them have my name!

    

Jul 28, 2009 10:21 AM #2
Ambassador
1,540,892
William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

HI Myrl, This is a subject I admit I had not considered before this post. Thanks for sharing this and for the eye opening link and I will definitely check out if I have a namesake on there.

Jul 28, 2009 03:29 PM #3
Rainmaker
545,096
Toula Rosebrock
Diane Turton, Realtors, Forked River, NJ - Lacey Township, NJ
Broker/Sales Associate, Realtor, Lacey Township,

ToulaRosebrock,com

Hi Myrl:

Now that's creativity to come up with a down payment!

Jul 28, 2009 10:18 PM #4
Rainmaker
2,519,081
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Xinh - I was sad to find that I wasn't on the list either.  However, I found a friend of mine that had $19,000 on it!

Debra - I had more luck turning in my recyclable cans and bottles than I did searching the list:-)

William - It is amazing how many folks have lost money in the state of California.

Toula - Current times call for creative measures:-)

Jul 29, 2009 02:24 AM #5
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Rainmaker
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Myrl Jeffcoat

Greater Sacramento Real Estate Agent
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