Home Buying in El Toro : Real Estate Advice

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Nicole Fedor…, Real Estate Pro in Santa Ana, CA
Nicole Fedorchek answered:
Can I use my 401K money for a down payment on a home?
Hi,
Yes, this can be done, but please check with your Plan Administrator for the details. Also, there are some down-payment assistance programs avaialble to you, if you qualify. I can ... more
0 votes Share Flag Sun Jan 10, 2016 Home Buying in 92630
Cheryl Pelle…, Real Estate Pro in Long Beach, CA
Cheryl Pellettieri answered:
I am considering purchasing a home in Lake Forest, CA. Do all homes have lake membership?
In the city of Lake Forest there are two lakes. Hidden Lakes aka: Sun & Sail I located off of Rockfield Dr. and Lake Forest Keys aka: Sun & Sail II located off of Lake Forest Dr. Not a ... more
0 votes Share Flag Mon Mar 30, 2015 Home Buying in 92630
Robert Adams, Real Estate Pro in Las Vegas, NV
Robert Adams answered:
I am a cash buyer & I went to the listing agent for the house I wanted. Is that an advantage ? What do I do now? I'm a 1st time buyer!
I would recommend getting your own buyer agent to represent you to avoid any conflict of interest. The seller pays for the buyer agents commission so you get buyer representation for fr ... more
1 vote Share Flag Tue May 6, 2014 Home Buying in 92630
Dave Gubler, Real Estate Pro in Foothill Ranch, CA
Dave Gubler answered:
Does anyone know when Melo Roos expires in Foothill Ranch?
The S3 Mello-Roos has no specified end date; however the bonds that have been issued thus far are scheduled to mature in 2019. Even though the bonds will mature, the district still has ... more
0 votes Share Flag Fri May 2, 2014 Home Buying in 92610
John & Janis…, Real Estate Pro in Encinitas, CA
John & Janis Arendsen answered:
I am interested in mobile homes except 55 in South Coast Metro area and surroundings 5-8 miles. Where are such communities and which one is the best?
Do you want a lease land or resident owned manufactured home community? We're a real estate broker, manufactured home dealer and also a general and manufactured home contractor with 3 d ... more
0 votes Share Flag Fri Feb 21, 2014 Home Buying in 92630
Jason Risley, Real Estate Pro in Irvine, CA
Jason Risley answered:
I am cash buyer I will put a backup offer. they asked to deposit 25% of the price. Is that correct? What should be the amount to deposit?
Hi Tim,

The deposit is normally $5K for homes under $300K. For homes, under $700K, I would use $10K. For homes, over $700K, I would use between $20K to $50K.

The larger your depos ... more
0 votes Share Flag Tue Jan 28, 2014 Home Buying in 92630
Grant Loel, Real Estate Pro in Irvine, CA
Grant Loel answered:
$99 daily extra fee written into contract as extra charge till escrow closes!.Under what conditions is the buyer considered responsible as "late?
The conditions are contained in the agreement on one of the pages you signed or initialed. If you cannot determine if you are responsible for the late fee then ask your realtor to expla ... more
0 votes Share Flag Sun Dec 22, 2013 Home Buying in 92630
Gareth Davies, Real Estate Pro in Laguna Niguel, CA
Gareth Davies answered:
I hear on the television and media that there are many more homes than buyers right now. When we go out and?
Fast forward to May, 2013 and it seems there are more buyers than homes. The drop in home prices and the lower interest rates have turned the market around a little and prices have head ... more
0 votes Share Flag Thu May 9, 2013 Home Buying in 92630
Gareth Davies, Real Estate Pro in Laguna Niguel, CA
Gareth Davies answered:
Why are homes long since pending or 'back up offer' still on list of available homes.?
As an agent there are two selections we can make once we have put a home into escrow. The first is back up offers and the second is pending sale. I typically put my listings into "back ... more
0 votes Share Flag Thu May 9, 2013 Home Buying in 92630
Suzanne Hall, Real Estate Pro in Laguna Niguel, CA
Suzanne Hall answered:
pending with release
Your question sounds more like a possible Tax Lien/ Transfer of Title/ Child Support/ Cloud on Title/ Mechanics Lien/ IRS Lien/ HOA Lien, ALL are possibilities to handle Release before ... more
0 votes Share Flag Mon Sep 10, 2012 Home Buying in 92630
Steve Backer, Real Estate Pro in Mission Viejo, CA
Steve Backer answered:
Is a house on stills has less value than a house on slab. A house in the woods is a plus?
Hi: generally homes in the woods portions of Lake Forest will sell for higher prices per square foot than non-woods and non-lakes homes. However there can be some downsides to woods hom ... more
0 votes Share Flag Tue Feb 21, 2012 Home Buying in 92630
Steve Backer, Real Estate Pro in Mission Viejo, CA
Steve Backer answered:
WHAT IS A REO PROPERTY?
Hi: technically, REO really only signifies homes that have been foreclosed and are currently owned by some institution such as a lender or a mortgage insurance company. REO stands for & ... more
0 votes Share Flag Tue Feb 21, 2012 Home Buying in 92630
KARA NORMAN…,  in Saint Charles, IL
KARA NORMAN 630-772-9090 answered:
what does it mean when there are 2 hoa fees for example hoa#1 at $360. and Hoa #2 at $30.? Is that yearly & monthly? thank you for your help!
I have a listing with two hoa fees, the 2nd fee is quarterly for the swimming/ tennis club house.
0 votes Share Flag Thu Dec 15, 2011 Home Buying in 92630
Robert Spino…, Real Estate Pro in Mill Valley, CA
Robert Spinosa answered:
Can I be charged for an appraisal that was ordered and completed before I received my GFE. In addition, I never signed any disclosures.
JD,

You cannot be charged for this appraisal based on what you've indicated here. Shane and Gregorio have done a very thorough job of explaining everything.

Let me know if y ... more
0 votes Share Flag Sun Jun 12, 2011 Home Buying in 92630
Tim Storm, Real Estate Pro in Newport Beach, CA
Tim Storm answered:
How can a condo HOA become FHA approved after being listed as "withdrawn" approval status by the FHA?
You would need to know what the reason for the withdrawn status is. Litigation can definitely be a reason, but it could also be
1. High percentage of renters in the project - over 50% ... more
0 votes Share Flag Fri Apr 1, 2011 Home Buying in 92630
Dave Gubler, Real Estate Pro in Foothill Ranch, CA
Dave Gubler answered:
My lender asked me to pay the appraisal. But I have Not received their GFE yet. Shall I pay the appraisal first. I'm in the process of
Sounds highly suspect to me. There has been a great deal of change within the last few years in mortgage lending and the regulations regarding the GFE have been impacted in particular. ... more
1 vote Share Flag Wed Apr 14, 2010 Home Buying in 92630
Harrison K.…, Real Estate Pro in Irvine, CA
Harrison K. Long answered:
What should I offer on an REO property compaired to the list price?
Cheryl ... you should be careful and always work with a Realtor member of NAR who is an agent with experience with homes in your area. Have a good talk with this Realtor. I expect tha ... more
0 votes Share Flag Wed Dec 10, 2008 Home Buying in 92630
Vicki Lloyd,  in Lake Forest, CA
Vicki Lloyd answered:
I am looking for a SFH in Lake Forest min. 3 Bed 1 3/4 bath. I am pre-approved for $375,000 on an FHA loan.
This is just an update to my original answer. I just double checked the MLS, and so far, there haven't been any SFRs close under $350K, and only one under $375K. There are 4 currently ... more
0 votes Share Flag Wed Sep 3, 2008 Home Buying in 92630
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