The EastLake Educational Foundation (EEF) is very excited to announce our newest community partnership with Manalo Realty!
Manalo Realty is a boutique real estate office in the heart of EastLake. Being very involved in the EastLake Community, Manalo Realty, and all their agents, know how important the schools are in the neighborhood. Some funding that the EEF receives comes in as what is called a transfer fee. Every home in the EastLake III neighborhood (which consists of EastLake Trails, EastLake Trails North, EastLake Woods, and EastLake Vistas) as well as the EastLake Summit neighborhood has a transfer fee that is paid by the SELLER when a home is sold. This is a recorded document that is required – it is not an option. The fee is 1/10 of 1% of the sales price of the home. (Example – if your home is sold for $400,000, then the seller pays a transfer fee for $400 at the close of escrow. This fee is used to fund technology programs at our local public schools right here in EastLake. Funded schools: EastLake Elementary, Olympic View Elementary, Salt Creek Elementary, Arroyo Vista Charter School, EastLake Middle and EastLake High).
Most sellers are unaware of the transfer fee when they list their home for sale and find a “surprise” fee on the sellers closing statement at close of escrow.
Manalo Realty has entered into an agreement with the EastLake Educational Foundation and has agreed to be the Real Estate Partners for the EEF. By doing so, Manalo Realty will pay the full amount of the transfer fee at close of escrow for any seller who lists and sells their home with them.
“We find this a win-win situation for the EEF and the EastLake Community”, said Ric Manalo, Broker/Owner of Manalo Realty. “Everyone knows strong schools equal strong neighborhoods – which in essence bring higher values to the community. We want to make the process of selling a home in EastLake III or EastLake Summit as seamless as possible while also helping the seller keep a few extra dollars in their pocket at closing.”
Please visit www.manalorealty.com or contact Barbara Legg 619.572.1144 for more information about listing your home.