Home Selling in Torrance : Questions & Answers

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Michael Magaw, Real Estate Pro in 90505
Michael Magaw answered:
what is a typical commission.?
If you are a broker and property manager, then you should know that commission rates are negotiable. And commissions vary for property management, sales, rentals, etc.
0 votes Share Flag Tue Mar 17, 2015 Home Selling in Southwood
Ruben  Magana, Real Estate Pro in Torrance, CA
Ruben Magana answered:
What happens to the second lender (80/20) when a short sale is effected?
If the 20k You are paying to the 2nd is in writing (as an approved short sale letter) .The 2nd will now go after your credit .
0 votes Share Flag Fri Jan 10, 2014 Home Selling in 90504
Dorene Slavi…, Real Estate Pro in Culver City, CA
Dorene Slavitz answered:
If a buyer's offer includes a contingency, now no longer valid but doesn't remove it, and then decides to cancel, do they forfeit their deposit?
There are "contingencies' to look at in a Real Estate Transaction.
There is a financing contingency(appraisal and loan), and an inspection contingency(which includes pest inspections) ... more
0 votes Share Flag Tue Dec 10, 2013 Home Selling in Torrance
Yvonne Zoon, Real Estate Pro in Redondo Beach, CA
Yvonne Zoon answered:
Which pocket or area has homes selling the fastest around South Bay, CA?
For most families the schools are the most important. I am located in West Torrance were homes go very quickly. It is close to the beach and convenient to shopping and freeway. There ar ... more
0 votes Share Flag Sat Mar 17, 2012 Home Selling in South Bayport
Eric Baskett, Real Estate Pro in Torrance, CA
Eric Baskett answered:
I filed backruptcy with my house included. Will a short sale pentalized me, by the IRS with a 1099c? Can this help my credit score now?
If you included the house in the bankruptcy that should wipe out the tax as well, you should talk to your attorney about that. The only reason to do a short sale after bankruptcy is to ... more
0 votes Share Flag Tue Nov 15, 2011 Home Selling in 90501
Allan Erps, Real Estate Pro in 10989
Allan Erps answered:
I am trying to sell my house ($900K range) in Torrance, CA. How much commission rate is acceptable? It seems like the rate ranges between 5% and 6%.
Hello, Mr. Tate as you can see there are many capable Realtors out there. As was said, Commissions are negotiable and should not be discussed as per our licenses in Publeic Forum. Inter ... more
0 votes Share Flag Wed Feb 2, 2011 Home Selling in Torrance
Jane Grant, Real Estate Pro in Temecula, CA
Jane Grant answered:
We're in a short sale escrow. The buyers bank has said our condo doesn't have a HOA, therefore we're violating the law.
The problem is that the perspective buyer's lender wants to make sure there is an HOA in place. Lenders want dwellings with "common areas", to have an HOA in place to det ... more
0 votes Share Flag Tue Dec 1, 2009 Home Selling in Torrance
Erin Brengle, Real Estate Pro in 90277
Erin Brengle answered:
can a homeowner rent his home out and buy another one. are there restrictions? our credit is very good.
Art:
The most important steps you need to take right now is knowing what your lender will do should you rent the home. The consequences of your Torrance home no longer being your prim ... more
0 votes Share Flag Tue Aug 18, 2009 Home Selling in Torrance
Shel-lee Dav…, Real Estate Pro in 90274
Shel-lee Davis - BRE #01817412 answered:
Is there an income tax to a rental property (SFR) even if the rent is much lower than the mortgage?
Dee:

I wholly concur with the first two answers. This is a question for your tax professional.

I am and have been an owner of rental property for many years. Here are a couple o ... more
0 votes Share Flag Sat Sep 6, 2008 Home Selling in Torrance
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