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Home Buying in Torrance : Real Estate Advice

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  • Local Info9
  • Home Buying73
  • Home Selling6
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Activity 90
Tue May 2, 2017
Dean answered:
Mobile homes are not considered real property and thus there is no mortgage. Loans for mobile homes are more akin to car loans or personal loans, although some banks specialize in mobile home loans. You can expect your loan's interest rate to be much higher than a mortgage rate.

On the bright side there are no property taxes, but there is no mortgage tax deduction either.

I have heard of cases where a mobile home was converted to real property for the purposes of getting a mortgage, but don't know how that is done

You should have no problem with your budget. Typical land lease for a decent park is 800-900 in the San Fernando Valley area
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Fri Mar 31, 2017
Zisskhan answered:
Adding more info:

My Agent suggested that I bid 15k more to make sure I get the house. I express my concern of appraisals coming low, but he said that would not happen in Torrance market. As I am First time home buyer, i went with my agent. Even though i had a gut feeling it wouldn't. Now without my appraisal contingency how can I walk out of the deal without losing my earnest money? The only two contingency i have on my contract is Inspection and Financial. I am right now on deadline of removing my inspection. Can i use the inspection to walk out? ... more
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Tue Mar 7, 2017
Aimee.loanprofessional answered:
The gal before me is talking about initial disclosures. I don't know why she bring up disclosures with the appraisal fee question. Closing disclosures do have a waiting period but initial disclosures do not. A broker can cover the fee and be responsible for the appraisal fee. If the borrower backs out they will have to pay regardless. ... more
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Thu Feb 16, 2017
Lakshmi.deveshkumar asked:
Tue Sep 20, 2016
Alysse Musgrave answered:
My company doesn't require the buyer to sign a restrictive buyer's rep agreement; many do. The terms of the agreement are negotiable. You can keep the term short if you like (and the agent agrees) so you have time to decide if you like her. Be sure you understand the terms of the 'out clause' so that you can fire her if necessary. Your best best would be to hire an Exclusive Buyer's Agent, not a regular buyer's agent. EBAs represent homebuyers only so there is no conflict of interest to jeopardize your negotiating position. Visit http://naeba.org for a referral.

Don't Let Them Make a Monkey Out of You! Follow the links below.


Alysse Musgrave
http://HelpUBuyAmerica.com
https://www.youtube.com/watch?v=D5wipynkV4U


Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You! US, Texas, and Spanish versions available.
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Tue Sep 20, 2016
Stephanie Hart answered:
Unfortunately the HOA Cert is often received somewhat late in the sales transaction. This is a problem more and more as of late, as people tend to litigate more frequently now than they did when I first started (15 years ago),. Most escrow companies order those docs (cert, etc) from an online system now and they are emailed and passed on to the lender. We hit this problem last year with a buyer of ours and thank goodness our buyer was with a mortgage broker that was able to switch lenders. You are correct that some will still finance with pending litigation. It is much easier if you know about the issues, at the onset. Escrow is a neutral 3rd party. Information that is received is passed along to both sides. Hope this worked out for you in the end. ... more
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Fri Aug 26, 2016
Sallycarrasco answered:
im sorry to hear that.i hope you found hm .im just sign up n i was kinda i dont know about this .did find out more about it
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Fri Jul 1, 2016
Johnsonmagnus67 answered:
i took a montage from this wonderful loan lenders they where wonderful and easy to connect with

Text them they can help
+19185582068
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Wed Feb 17, 2016
answered:
Yes it is real, but you better know what you are doing. For example most people who are willing to do it, only are willing to do so because they owe more on them than they are worth. So that is the price you are going to get? That is right, most people who go into those do not do well.

The good news is that there are so many low down payment programs, where an appraisal is done and you have agents involved so that you do not get the short end of the stick.

Give me a call and see what you can buy.

714-968-2500

NMLS license number 287206
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Wed Aug 26, 2015
answered:
1. Mobile homes go down in value, never up. They are always a depreciating asset.!!!
2. You are at the mercy of the park owners, they may raise your rent whenever they want, by however much they want, and there is nothing you can do about it. See you are stuck there with a mobile home that is not mobile at all, you cannot get up and move if you do not like it. They get to make rules, tell you who you can sell to and often times even block your sell when you go to sell.
3.If you can afford a mobile home you can afford a condo.
a. Condos go up in value as a general rule. You can take out equity out as you go.
b. You are not under the strict ownership, you do have an association but it is much easier to deal with, and they cannot tell you who you can sell to or block your sell when it comes time to do so. Also you can always go to the association meetings on a condo and have a say. On a mobile home they own it, it is their way or the highway.

Call me at 714-968-2500, we can go over the numbers, I can show you that you can buy a condo with:
a. Less money down
b. Worse credit
c. With a lower monthly payment.

There is only one advantage of a mobile home that is there are no adjoining walls. But you will find when there are storms, that you will quickly realize just how flimsy a mobile home is.
If you buy a mobile home you will end up with nothing to show for it accept for a loss. If you buy a condo it will go up in value eventually, you will build equity; have more freedom, more money, less stress. When you sell it you will make money, if you hold it long enough, no matter what. The longer you own a mobile home the more money you lose, no matter what.
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Tue Aug 25, 2015
Ruth and Perry Mistry answered:
Tue Aug 25, 2015
Dorene Slavitz answered:
hum...did you have a termite inspection and report with termite clearance? If you do..you should definitely go back to the termite company as they guarantee their work for at least two years. They will come back out and treat for termites.
My own personal thoughts about termites is that they are tough little insects that are resilient and difficult to eradicate completely. Rarely do we find a house (even one tented only a few years ago) without some evidence of termites.
I don't know the solution to this except to start building with a material they don't like to eat..like steel!!
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Sun Jul 26, 2015
Natalia Smoleeva answered:
THANK YOU FOR YOUR HALP.
IN MY SITUATION I AM VERY ALONG,I HAVE ATTORNEY ALSO THEY WORK TOGETHER WITH REALTOR.
EVERY THING AND AVERY BODY TALE MY A DEFERENT STORY REGARDING SHORT SALE.
I NEVER PROVIDE ANY DOCUMENTATION SHORT SALE REQUIRED,ALSO AFTER FERST OFFER, VERY SMALL OFFER,SHOWING IS STOPT FOR SOME REASON.
ALSO MY CONTRACT WITH REALTOR EXPIRED IN MAY,FERST OFER WAS MADE IN FEBRUARY,
SECOND OFFER WAS ACCEPTED WITH OIUT MY SIGNATURE IN LULY 15.
LOOKS LIKE AFTER 320.000 OFFER IN FEBRUARY WAS NO OFFERS ANY MORE,I UNDERSTAND NOW MY REALTOR SAY TO ANY ONE HOUSE IS SOLD????
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Thu Jul 23, 2015
Sheyenne Schultz answered:
If you are still in Torrance Unified School District.. the school ratings are awesome! If u are east of Western Avenue and in the Harbor Gateway areas you will have LA Unified School District.
Check ratings at www.schools.com or www. homefacts.com Punch in the potential home address and info will pop up....
Main thing to consider when buying is what can u afford???? Getting pre approved 1st, will determine your price range on where you can go shopping.
Call me! I work with tons of 1st time home buyers and have put them in homes when they contacted elsewhere and got nothing but the run around and empty promises!
310-429-4170 shy@shysells.com Need to Buy? Just call SHY!
my office is in Torrance but I go as far north as Big Bear, Lake Arrowhead and just closed on one up there last wk. Let me help you too or someone you know.
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Wed Mar 4, 2015
Alex Montelongo Real Estate Group answered:
I don't think that you can find a 3 bedroom rental in Torrance for $1500 per month. Rents for a 3 bedroom in Torrance most likely range from $2300-$2900.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
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Wed Feb 4, 2015
Alex Montelongo Real Estate Group answered:
Only time will tell. Here in Southern California people most likely commute to work. The aftershock of the closing or relocation will be widespread throughout the area and should not devastate the City of Torrance.

Alex Montelongo/Broker
Coldwell Banker Star Realty
562-810-7387 Cell
BRE Lic #01456982
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Fri Jan 23, 2015
Dorene Slavitz answered:
No, Home inspectors are often retired contractors or other individuals with home building backgrounds who are trained to inspect the basic elements of the house. They are not hired by the Realtor or Brokerage and are independent.
Your agent will refer you to a Home inspection company they have used in the past only as a service to you. You will interview,hire and pay them yourself and they will answer to you as the consumer.
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0 votes 9 answers Share Flag
Fri Jan 23, 2015
Dorene Slavitz answered:
They have their own website for the development at http://www.torrancewindemere.com/. However, a local Realtor will be your best source for available units and floorplans.
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