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91401 : Real Estate Advice

  • All26
  • Local Info2
  • Home Buying17
  • Home Selling2
  • Market Conditions2

Activity 26
Yesterday at 7:52pm
Ingridharrington asked:
Mon Oct 10, 2016
Lisa.blackwell asked:
Fri May 29, 2015
Maggie Oreck answered:
For the right price I believe is pretty smart to invest in land

Good luck!
0 votes 9 answers Share Flag
Wed Jan 22, 2014
Annette Lawrence answered:
Take note.
Placed in the question is the statement 'secured loan amount of $100,000. The subject property to be purchased is $40,000.
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If a buyer approached you and stated, "I'm qualified to buy a $100.000 house" and makes offers on $40,000 instead, you don't think that just might call for a change in strategy? -
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A full service business model based on $40,000 purchases is destined to go out of business.
As others have stated, and I agree, you should find another agent.
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Be sure to advise your new agent you are looking to make a $40,000 purchase.
... more
0 votes 12 answers Share Flag
Sat Nov 9, 2013
Kirt Kingzett answered:
No set answer, really depends on what the creditor will settle for, just be sure you get "in writing" payment is in full and no future payments
0 votes 8 answers Share Flag
Fri Nov 8, 2013
Yanni Raz answered:
Yes you can quit claim yourself off of the deed. It will not affect your credit score as you were not on the loan.
0 votes 8 answers Share Flag
Tue Apr 2, 2013
inna ivchenko answered:
Are you looking to buy ? How much land, what is the zoning you are looking for and how much you are willing to pay? Only Van Nuys?
0 votes 3 answers Share Flag
Tue Apr 2, 2013
inna ivchenko answered:
I might know a lady who can answer your questions. She was just explaining me last week how it works, she represent the special gov programs where they pay your down payment, closing costs. You need to qualify. Shoot me email and I'll forward you her contact information. ... more
0 votes 6 answers Share Flag
Thu Mar 7, 2013
Russ Ravary answered:
Usually it is 75% of the rental income on most loans. I have never heard 90.
0 votes 3 answers Share Flag
Thu Mar 7, 2013
Russ Ravary answered:
It can be done. Call one of the trulia pros above that do multi family loans. You want somebody with experience in doing them
0 votes 4 answers Share Flag
Thu Mar 7, 2013
Russ Ravary answered:
Yes by taking deductions it does hurt what the banks consider true income. It is great for your taxes but not so good for your ability to buy a house
0 votes 4 answers Share Flag
Wed Oct 24, 2012
Anthony A answered:
Are Yo ready for NEW counter tops ???
*I CAN WORK WITH YOUR BUDGET *
Don't risk your money with low quality work.
Let me know what You need ...
My name is ANTHONY and I can give You the best price in the market right now
I have 15 years experience working with ANY Natural Stone or Quartz.
Check some ideas and colors at WWW.GRANITEKITCHENS.WEBS.COM
You can contact me by text or E-mail.....24/7 services
SE HABLA ESPAÑOL !!!

ANTHONY
A+GRANITE
... more
0 votes 3 answers Share Flag
Wed Oct 24, 2012
Anthony A answered:
Are Yo ready for NEW counter tops ???
*I CAN WORK WITH YOUR BUDGET *
Don't risk your money with low quality work.
Let me know what You need ...
My name is ANTHONY and I can give You the best price in the market right now
I have 15 years experience working with ANY Natural Stone or Quartz.
Check some ideas and colors at WWW.GRANITEKITCHENS.WEBS.COM
You can contact me by text or E-mail.....24/7 services
SE HABLA ESPAÑOL !!!

ANTHONY
A+GRANITE
... more
0 votes 7 answers Share Flag
Tue Oct 2, 2012
Ken Dorfman answered:
Seems to be correct. The last recorded change of ownership was in '97, although there is some confusion between the last recorded owner's identity and the property tax payer. Could just be a clerical error. For a definitive answer, one would need to check with a title company or a lawyer.

Ken Dorfman, Broker
Kenneth B Dorfman Real Estate
Los Angeles CA
Ken@TheRealEstateOffice.biz
Phone 888-846-0688
... more
0 votes 2 answers Share Flag
Sat Sep 22, 2012
Robert McGuire answered:
Lga658,

You may feel frustrated by the answers below, but they are good answers. The bank is not pick up the balance they are owed. They will be looking for Fair Market Value even if the balance is half of that amount or twice that amount. A Broker Price Opinion (BPO) or appraisal will be done to determine the tru value and the will put it on the market for that amount. They may or may not have flexibility in accepting an offer on the home depending upon condition, community, and several other factors. Today, we are not finding 'screaming deals' with these REO properties.

It is hard to determine what the bank is owed because of liens, attorney fees, interest, etc. If you could find that out you will still find that the offer the bank will accept is not determined by that at all. Bottom line is, don't look strictly for bank owned properties. There are sometimes better deals out on the open market. Also, each market is different, so you will need to consult with a local real estate professional to guide you into finding the best home for your situation.


Robert McGuire ASR
Broker/Consultant
Your Castle Real Estate
Direct - 303-669-1246
http://about.me/robertmcguire33
... more
0 votes 13 answers Share Flag
Thu May 31, 2012
Blair Thompson answered:
It is possible to gain some advantage by using the listing agent. Either in the form of a commission reduction or sometimes if the agent is good you may get a difficult deal closed that otherwise might not. BUT, and that is a big but. you are more likely to at the very best break even. Any gain you may get from the commision reduction is usually absorbed by weaker negotiations. And there is also the dilemma trying to decide if you gain the benefit or the seller gets the real reduction of comission. It usually becomes a shell game and the late comer, the buyer, usually loses. The listing agents first responsibility is to the seller and the buyers interests come second. If you happen by an honest agent, you wil be lucky. Find a good agent preferably from a trusted referral to represent YOU and you only. ... more
0 votes 6 answers Share Flag
Tue Mar 6, 2012
Sara Mehrpouyan answered:
The buyer's agent can check in about once a week because unfortunately, they have no control over the short sale negotiations with the Seller's lender. They can however, keep up good communication with the Seller's agent to let them know that you are eagerly waiting for a response. After the short sale approval has been received, escrow should be pretty much the same as a traditional sale but everyone needs to make sure that the escrow closes on time to get the short sale lender their funds by the date on the approval letter.

Get New Property Listings By Email: www.newlosangeleshomesearch.com

Need to Short Sale Your Home or Have Questions About Short Sale, visit: www.Short-sale-Vs-Foreclosure-Help.com

Sara Mehrpouyan CDPE
Specializing in Foreclosure & Short Sale
Rodeo Realty
Direct 818-903-2040
Dre License #01712757
... more
0 votes 13 answers Share Flag
Sun Jan 1, 2012
Diane Wheatley answered:
Dear Lga,

A property listed for sale will offer a commission to the listing agent if an acceptable offer to purchase results in a successfully closed escrow transaction. The commission is paid to the listing broker to be shared with a cooperating broker who submits an offer from a qualified buyer. The listing agent may have reason to believe that the commission should not be shared with another broker if he was the procuring cause for the sale of the property. There are many definitions to a procuring cause ruling that is typically argued between the brokers in an arbitration board.

If the listing broker introduced the buyer to the property before any other broker there could be grounds for a procuring cause ruling which would provide the entire commission earned by the listing broker and not shared with another broker. It really depends on the amount of effort and representation that was provided to the buyer in order to solidify the sale.

If the listing agent was lead to believe that the buyer was not working with another broker with anticipation that the buyer would be using their services in order to present an offer to the seller, would it be proper for another broker to step in and collect a commission? This is very often a question of ethics and fair business practice as the roles between buyer and seller representation is not always definitive.

I hope that helps a bit. It isn't always a simple matter.

Diane Wheatley, Broker
diane@moveupproperties.com
... more
0 votes 12 answers Share Flag
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