Clock's Ticking to Buy In for School

By Dave Fratello | July 15th, 2013

Much has been made – and will be made – of MB's vaunted public schools.

The school system is a major driver of interest in Manhattan Beach real estate. Buyers with school-age kids see the added value right away. (See our post, "MB Schools Smash It Again.")

So if you're a buyer looking to get in for this Fall's session, when do you need to lock up a deal?

Pretty soon.

School starts August 28th. Enrollment for new students starts Aug. 19 at each campus.

Start a 30-day escrow today, and you'll be closed up just in time to chat with the staff at your target school about enrolling the kids.

A longer escrow starting now, or a 30-day starting within the next 10 days or so, could well get the kids locked in by the first day Aug. 28.

Buyers who do not already live in Manhattan Beach generally will need to close escrow to formally establish residency and get in to the school associated with their family's new address. Making a deal, say, Aug. 15 and going to the school administration to say "we're in escrow, now can the kids go to school?" is not likely to work.

So, yes, the clock is ticking.

Many buyers know this all too well. Do sellers?

To be clear, it's no panic situation if a deal doesn't close before enrollment opens, or even before the first day. Once residency is established, the schools will work with you to get the kids placed.

But of course, the cleanest way to start school is to do so at the beginning.

And for that, it's time to lock in that deal – maybe this week.

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