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Home Buying in 91106 : Real Estate Advice

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  • Local Info2
  • Home Buying6
  • Home Selling2
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Activity 6
Tue Jan 3, 2017
Rich Reed answered:
It depends on how your purchase agreement and intent to exchange supplement are written. And whether the failure of the exchange is through no fault of the buyer. If you are already involved in this transaction, please consult with your Realtor and/or your attorney. If you are contemplating a 1031 exchange and are not currently working with a Realtor, please contact us through our profile. We serve Pasadena and the San Gabriel Valley. We speak English, Mandarin, Cantonese, and Spanish. Check out our website at or in chinese at Thanks! ... more
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Wed Jun 8, 2016
Rich Reed answered:
Yes, it can affect the Seller of the exchange property. The Buyer of the exchange property, if using C.A.R. forms, would submit an addendum with their offer entitled "BUYER'S INTENT TO EXCHANGE SUPPLEMENT." The Seller and their Realtor should review the terms carefully to see if it meets their needs and requirements. ... more
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Fri Jan 29, 2016
Amelia Robinette answered:
go to the source - who posted them in the first place? probably the listing agent, contact them and request they remove them from the MLS which is where they probably came from.
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Thu Jan 31, 2013
sheren.le answered:
You can always add your wife on as a non-borrowering spouse. The loan officer could've done this from originating your loan. It shouldn't be a problem at all.
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Sat Jan 5, 2013
Deluxe Realty answered:
Great question, 1031 doesn't reflect on the buyer.

In a typical transaction, the property owner is taxed on any gain realized from the sale. However, through a Section 1031 Exchange, the tax on the gain is deferred until some future date (e.g., the future resale of the home you will purchase with the proceeds from the sale of a current property).

To learn more, check out this post:
... more
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Tue Oct 14, 2008
Gilda Anderson answered:
Hello Rosie. Its sounds as if the home being on the market over three months is a requirement of the company before they will consider a FHA (I assume that is what HFA is) loan so you may want to clarify whose time threshold it is. The company can set any guidelines as long as they are within the law and it appears this time threshold is well within their right. The reason a seller is reluctant to accept an offer involving the FHA is that seller has to pay certain costs that the buyer normally pays as well as there being a limit on other costs-in other words a sale involving the FHA is less lucrative for the seller. As to a carry back, here's a scenario of what happened in our last market downturns: A buyer with onlyl 10% down wants to buy a property that the seller wants to sell to the buyer. The banks are either requiring 20% before they underwrite a loan or the interest rates the bank is charging are substantially more with just 10% as opposed to 20% down. In these cases, the seller, being motivated to sell and having adequate equity, would agree to "loan" or hold paper worth 10% (or any other percentage of the sale price). This seller loan (or carryback) to the buyer usually comes with a slightly higher interest rate (though not always) and a shorter loan period. As with the bank, the seller can also foreclose if payments are not made. This is win-win and a great way for a buyer, who may not otherwise have the cash, to qualify for a home loan and also an incentive for a seller who is anxious to sell to get his property sold. ... more
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