Hello Guy,
The Govenrment does offer programs to assist first time buyers with everything from low interest rate loans to down payment assistance.
Go to HUD.GOV , you will information on the programs they offer.
Best of luck to you.
Kawain Payne, Realtor... more
Crystal,
you still have two weeks left. Please do not get stressed out.
If your contract stipulates the repair to be done BY CLOSE OF ESCROW, there is time left to get it done. Just keep all parties engaged and on task. .
Congrats on your new home, you should be fine.... more
Hi, Stella!
Please contact me and I will put you in touch with one of my agents who specializes in this. That's what we do -- we help buyers!
Bob
The Buyers Group
Keller Williams Realty
909-945-0659
thebuyersgroup@gmail.com... more
Crystal, Unfortunately, the answer to your question is with either your agents or your mortgage consultant. All I could offer is speculation. There are many moving parts in the mortgage process and it is usually best to consult the people "in the know". @Carol brings up some very important points...some repairs are buyer requested, other are lender required and may require a re-inspection by the appraiser. In most cases, two weeks is plenty of time for repairs to be completed; however, requesting a time line to ease your concerns is totally reasonable. Best to you.... more
Divorce is not so uncommon an occurrence. It happens in all sorts of cities, not just Rialto, CA. Interestingly enough, with the dip in home prices, this has become more of a common occurrence.
Read more
The sad passing of an intellectual genius such as Steve Jobs leaves people with lingering thoughts as they ponder their own immortality. In 2009, Apple co-founder Steve Jobs and his wife placed at least
Read more
New Law Regarding Carbon Monoxide Detectors Home Inspectors will start checking for CO detectors after passage of new Disclosure Laws California Senate Bill 183 was signed into law to regulate the installation
Read more
Using the word "Decent" raises a red flag to RE pros. It's called steering and it is not only discriminatory and unethical............It could cost a Pro their license. Be careful how you frame your questions. Start with your local PD.... more
Right now there are over 319 homes on the market in Rialto, California under $250,000. There is one that is $89,000 even! Now, it needs some work, but that is very affordable for this market with the
Read more
Hi Israel,
It is customary for the buyer to pay for the home inspection. If the inspector finds anything of concern he/she will recommend additional inspections, e.g. soil testing for stability, air conditioning/heating system specialist etc. It is very important to read the warranty offered by the builder, how you can extend the warranty on the appliances included and the quality of materials being used (very important.) I would check with the Better Business Bureau for previous complaints and the builder's reputation.
The inspection contigency should be established in the negotiating period. When you are satisfied with the property's condition you can then release the contigency by signing a contigency release.
It is important to be represented by an outside agent. When represened by the builder/seller's agent, buyers might not feel confident knowing your best interests are being served.
I was the contractor when building my own home. I am familiar with all the steps necessary and inspections the city's building department must perform before they can issue the "Occupancy Permit."
I have been in the business since 1991 and hold a Broker's license. I would love to represet you and negotiate a great deal on a new home for you.
Margaret Lopez, Realtor
Century 21 King
(909) 770-4384... more
You and your agent need to do your homework and evaluate what your needs are. First of all, what kind of sale is it? Standard? Sounds like it. A standard sale can often bring you a home in much better condition than an REO or short sale, and homeowners will usually pay for a warranty and termite insepection and any work necessary. Standard sales often have owners that will help pay for buyers closing costs. These things are usually not an option with an REO or short sale. The other thing is a standard sale can avoid all the waiting and haggling that other types of sales can bring. Also consider the cash out of pocket that these other "good buys"may require to get the property to good living condition or your own personal standards. Soetimes it's just better to pay a little more- values are skewed right now with all the bank owned, and shortsales.... more
Hi Mrswild, realistically, the price that you two settle on is what will go into contract, so as long as you two are both ok with the price, you should be fine. You should, however, get an appraisal or comparative market analysis done for your records, as I'm assuming you don't want to overpay! You can also use those results to help you negotiate your price with your friend.
It sounds like your friend is upside down on his house -- you want to make sure that all the paperwork reflects that he is taking care of the 1st and 2nd on his own and that he's not short selling, just to keep you protected. Good luck!
Caroline Choi
Broker Associate/Realtor
www.CarolineSellsTheCity.com... more
Hi Sarah, Im a Realtor and a Certified Real Estate Appraiser as well. The answers below are correct. There are many ways a room can not be counted as a bedroom. It also depends on the type of appraisal and not only that, the bank may decide to call it a room or not based on what their policy is regardless of what the appraiser says. Many city records can also reflect wrong or outdated information. Many times they don't show recorded changes properly, the original builder recorded information incorrectly etc. FHA, FNMA & FDMC rules also change as well as the parameters & guidelines of OREA. (Office of Real Estate Appraisers) Functional obsolescense can definately have an effect on value. The appraiser can call it a bedroom with functional obsolesence or not call it a bedroom depending on how they see it. Appraising unfortunately is not an exact science. You can however, challenge an appraisal and you can also ask the bank for a formal review and they will have a more experiences appraiser review it. If you aren't working with a Realtor and if you're looking in southern California, please contact me. God Bless, Roland.... more
HI Tonyahunting,
Barbara maybe a little confused.
Chapter 13 is 12 months from the file date but a chapter 7 may be eligible after at least 12 months as long as there were circumstances out of your control that caused the BK.
In your case you may have a chance as long as you can show the following.
1) Medical bills were the only thing you included in the BK.
2) You have zero derogatory marks on your credit since the BK
3) Your credit score meets the required minimum.
4) You've re-established your credit.... more
Hello 1st and thanks for your post.
One of the reasons, we (as real estate professionals) often advise homeowners to engage a Realtor is so that you might have some protection against situations such as this. Your agent would have found this type of request--at the very least--bold and--at worst--contractually challenging. Also, I think an agent representing your interests would certainly have checked on title issues with the listing agent prior to getting to sign-off, only to learn that the information was incorrect. A preliminary title report would have quickly resolved who owned or is on title for the home.
At this time, if you are not currently represented by an agent, you may need to bring an attorney into this discussion especially before you waive any remaining rights you as a buyer in the contract. Not being able to find an owner in a short sale is pretty common, so the listing agent should certainly have resolved this problem back in June 09.
I'm a little confused about the "contingencies" that the listing agent spoke of, since, if you are just about to sign off, most, if not all, of the buyer's contingencies should have been removed. The only one remaining would be, of course, the loan contingency. I think, instead, that the listing agent was probably asking you to "waive" your rights to the deposit--something, of course, you should not do without legal counsel.
Talk to an attorney quickly to try to resolve this matter. I am afraid, as are you, that getting the signature of a missing owner or resolving the problem in court will probably take more time than the 7 days allowed by the lender. Having an attorney on your side will help you exert some legal "muscle" as necessary to obtain the cooperation of the seller and listing agent.
Good luck!!
Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
San Jose, CA... more
Hi Gwen,
Currently I do not show 832 W. Vine in San Bernardino for sale. I noticed the home was last on the market as of 5/2/08 when the listing expired it's contract. If I can be of further help feel free to contact me in my office at (626)610-1179. Have a great day!
Matt... more