The property tax on a short sale is normally paid by lender of seller. It has to show on the closing statement the listing agent sends to the bank with the offer that comes from buyer.
In case the bank does not want to pay it, then it is negotaible that either seller or buyer pay it or split it. But on all my short sales the bank paid for it.
Heba Rayan 925-216-3006... more
There are many considerations that enter the picture when establishing a price point for a home. Year constructed(1972), square footage(900+), number of baths(1) etc. are but a few biggies that jump out even before getting into: location, safety, proximity to shopping & work, etc.
Also, if there are other buyers like you that view this home as being "cheap" it may generate multiple interest and competition between buyers that could increase the final sale price.
You are correct in questioning this.....there's always a reason, but it's left to you to identify it.
First thing you should do is to review your contract
If you have a realtor and you used the CAR (California Association of Realtors) purchase agreement, take a look at paragraph 14-C regarding Seller Right to Cancel. Generally, seller has the right to cancel if the buyer fails to meet his obligations. But if you have already removed all your contingencies and on time, he does not have that right.
Also take a look at paragraph 26 regarding mediation and arbitration. Did both parties sign? Then this is one of the ways you can get this resolved.
If seller attempts to cancel, he may be violating your rights and breaching your contract.
Get your agent's broker involved. If you are almost ready to close escrow, take a look at Demand to Close Escrow.... more
If you like the private school, go with the Union City home. The homes off Lowry are associated with Pioneer Elementary, which is also a good alternative option, if you change your mind about the private school. Also with the Union City school there is no guessing which school your child will go to. However with the Ardenwood or Warwick house, you have no certainty which school your child will go to.
Sunil Sethi Real Estate... more
Assuming no major swings in prices and no tech bubbles or mortgage meltdowns, you can assume a price increase of 1-2% per year to account for inflation each year.
The longer the time horizon, the less accurate predictions. It would be useful to understand what your plans are for the next 5-10 years. Many of my clients experience market changes but it does not affect them because they want to live in their house for another 8 years. For the ones that want to move, it matters more to them. So what are your plans?... more
I would need to know how it is written to answer and be 100% sure, but normally if there is an inspection period (different states have different names) that is a period where you can get inspections done to determine the condition of the house to decide if you wish to continue with the purchase. What often happens is a buyer gets inspections and estimates to repair issues and asks the seller to make the repairs or give a credit so you can make them or drop the price of the house. The seller can say yes or no. As long as you are in the inspection period you can ask, if they say no you can walk away and terminate the offer. Your Realtor should be explaining all this to you - MAKE THEM since it is all in how the contract is written.... more
There's a big difference. With a single family home, you also own the land beneath and around the house. That is why the price is so much higher - the land is the real thing of value. Your home is planted on the land with a foundation permanently.
With a manufactured home, you own the box you live in but need to rent the lend that it sits on. Manufactured homes can be relocated. I get calls from time to time from people enthralled at the low prices of the manufactures home..here in San Diego though, the monthly rental fees are up to $700-$800 a month...so that is added to your mortgage payment.
Hope this brief overview is helpful.... more
You have been given a very aggressive counter offer. I would be surprised if you can meet all of the terms that you are being asked to accept.
Don't you have an agent? I hope you do. At the same time I worry that you value the opinions of a diverse number of strangers from the Internet over that of your agent. If you want a second opinion you should ask your agent to get the Broker involved. If you are using the seller's agent you are making a mistake.... more
Nelson, I am thinking you are talking about the interior since rhe exterior is covered by the HOA. There should not be monthly maintenance cost. Unless you add the cost of any carpet cleaning, plumbing repair, ac, electrical repair and/or painting touch ups and divide that by 12??... more
This property is offered as a short sale. There are two loans/lenders which both must approve the short sale price, terms and conditions.
There are 54 units in this development. HOA fee is $335/mo, and covers Common Area Maint, Exterior Maintenance, Hazard Insurance,
Management Fee, Reserves, Trash Removal, Water/Sewer
How may I help you?... more
The only one who will know the answer is a local and trusted loan officer. They can prequailify you at no cost and let you know if you qquailify for a VA loan and what price range you can afford. Anyone else may just be guessing withiout seeing your credit and financials. Stay away from internet lenders and meet with someone local.... more
Looking at normal home buying guidelines for lenders, they would typically like to see 2 years of employment, 2 years worth of job history and 2 years residence in the country before considering most loan applications. Your current credit score is fine for purchasing with an FHA loan.
When buying a condo, house or townhouse, the minimum is 3.5% down and you should be able to cover closing costs (which can vary, but figure $5k to $8k for now - in some negotiations, you can ask for the seller to help cover those).
For mobile homes it may be somewhat different, but it does sound like you may be very close to being able to purchase a home which would be better for a couple of reasons.
First, the resale value will usually be much better and second, you don't have to worry about your space rent fees going up -- which are typically significant. There is also the issue of finding space in a mobile home park. They are very limited (spaces) and there are few (mobile home parks), which is why the space rental is such a premium now.
Hope this helps, but feel free to call or email me with more questions!... more
It depends on credit fico scores, loan amount, conforming or high balance jumbo loan. It only takes a few dozen questions to qualify you in minutes and go over rates and terms.
I can email you gfe fee estimates for both scenario's depending on your credit profile. I specialize in Under 640 Fico Score Loans and offer credit repair at no cost to raise fico scores to qualify for programs, rates and terms as necessary. Here are some links to study and consider.
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
20+ Years Experience
9am till 9pm 7 days
Hi, Realtors are prohibited from steering, (saying a neighborhood is good or bad) What I usually do if I want to check out an area is I call the police and ask. They are the best place to start as they are in the best position to have the informstion you want and are veryvwilling to share it with you. Hope this was helpful...Dawn... more
This is a short sale kand hasbeen on the market for 236 days. If you are not award of what and how a short sale works please call me and i can explain. Also if you are wanting to preview other homes in Union city that are not short sales i have others i can show you. I have lived in Union City for the last 30 years and i know the city very well.
Prudential California Realty
John Petrocelli, REALTOR®, CRS
Green, EcoBroker® DRE #1468343
www.petrocellihomes.com (web)... more
I understand there is a showing Saturday for this home. I have also heard of a water leak in the basement.
You should investigate this home with your agent and make sure you do your inspections.