TED SHOOP - Atlanta Suburban Real Estate

I might also add that certain banks and lenders are easier to work with than others when it comes to negotiating a short sale proposal. Not sure if you are buying or selling short but be sure to select an experienced short sale agent to represent your best interests in the transaction. Let me know if you need assistance with a qualified referral to such an agent in the Chicago area. - Sun Nov 16 2008, 15:41

Great question, Lisa. Although it varies from lender or bank to the next, you should anticipate the approval process to normally take between 60 to 90 days (based upon my experience working these type transactions for clients). The timeline (and succes) will also depend tremendously on whether or not the listing agent has experience putting together a detailed and complete short sale package as well as knows how to follow-up and communicate with the loss mitigation department(s).

In some cases, it may take longer. Seldom is it shorter. Whether or not there are two mortgages and whether the same or different companies will have a bearing on the timeline as well since coordination and approval of multiple organizations would be required. Best wishes - Ted - Sun Nov 16 2008, 15:37

Rachel,

There are several variables that come into play in the situation you described. Your best recourse is to speak to a licensed CA real estate attorney. It would be well worth the 1/2 to 1 hour of consulting that you pay for professional legal advice to determine your options.

In the meantime, here are some points to consider (this is in no way, shape or form intended to substitute legal advice since I am not an attorney nor am I licensed in the state of CA to sell real estate):

Based upon your description, it sounds to me that you and your neighbor have an appurtenant easement or a party driveway for shared use of the driveway. These types of easements are typically established in writing and filed with your respective deeds at the local city or county municipality. The two of you may have entered into such arrangement or prior owners or the developer could have established such an easement which would then be conveyed and transferred to the new owner(s) when the property sells and title is transferred. The attorney will do a much better job than I explaining to you the different types of easements and, after looking at your particular title/deed, can give you specific options that you may have.

My first question would be to question the type of zoning that your neighbor's property is located within. Usually, there are restrictions on how many structures can be built, mandatory set-backs and boundaries, permit approvals, etc. that may limit or prohibit your neighbor's ability to sub-divide the lot in order to proceed with his planned construction. If he/she ends up successfully sub-dividing the existing lot or selling an adjacent lot, I would think that the new third party would also have to enter into a written agreement with both you and your neighbor to establish a new easement.

A few other forms of easements that may apply include: Easement by necessity - an appurtenant easement that arises when an owner sells part of his/her land that has no access to a street or public roadway except over the seller's remaining land. These are usually created by court order since the new owner has a right to have access to & from his/her property without being land-locked. Easement by prescription - occurs when the claimant has made use of another's land for a certain period of time as defined by state law. In this situation, the claimant's use must have been continuous, exclusive, and without the owner's approval (probably not applicable in your case).

I hope this gives you some helpful information to consider. However, I strongly urge you to seek professional legal advice on this matter. Best wishes - Ted - Sun Nov 16 2008, 15:26

Hi Cheng,

This company may be legitimate; however, especially during tough economic times, the scammers and cheats seem to come out in force. When someone sends out spam such as the one you received (and without complete contact information), be very cautious of who you decide to work with when it comes to buying or selling a home.

Your best bet is to find an experienced Realtor who will represent you and you alone in the real estate transaction. A Realtor is a sales agent who has chosen to join the National Association of Realtors and has taken an oath to abide by a strict code of ethics that is based upon professionalism and protection of the public. - Tue Nov 11 2008, 07:11

Hello Ely,

Are you looking to obtain a telephone number? If so, you have several options. Depending upon your planned use of the telephone, here a just a few choices that you have:

(a) Land Line (AT&T)
(b) Cell phone (AT&T, Sprint, T-Mobile, Verizon, etc.)
(c) VOIP (or Voice Over Internet Protocol like Vonage, MagicJack, etc.)
(d) If you are a business user and need other features like e-Fax, mailboxes, toll-free number, etc. then check out RingCentral.com

You might want to talk to friends and family who live in your area of town to see which form of telephone communications work best for them before making a decision.

Best wishes with your communication needs! - Ted - Tue Nov 11 2008, 06:01

Fellow agents beware! I recognize your desire to be helpful responding to Sally's question; however, your comments could be construed as "steering." Tread cautiously... - Tue Nov 11 2008, 05:44