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Home Buying in 92407 : Real Estate Advice

  • All27
  • Local Info1
  • Home Buying20
  • Home Selling1
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Activity 20
Sun Oct 9, 2016
Jammie.tam answered:
Helpful comments . Coincidentally if people have been needing a NY App for Preliminary Letters Testamentary , my wife filled out and esigned a blank document here "http://pdf.ac/8ByMVk"
0 votes 3 answers Share Flag
Sun Nov 9, 2014
Walter 'Skip' Kersten answered:
Have your agent to check with the Title company. The Title officer should be able to tell you if the family can sell the property.
Good luck,
0 votes 2 answers Share Flag
Sun Nov 9, 2014
pat_duckwitz48 answered:
we have a contract with family, left this house in his will when owner died. they have will and death papers, but probably have to go thru probate, can we go on with the sale.
0 votes 11 answers Share Flag
Mon May 19, 2014
RonS answered:
Of course they can, provided the authorized representative of the estate allows it and, If there is a loan on the property, the lender can (and will) foreclose if payments are not current. ... more
0 votes 3 answers Share Flag
Tue Jun 18, 2013
Trulia Customer Service answered:
Hi Ruth,

Kristan from Trulia's Customer Service here. The property at 143 N K St Needles, CA 92363 is not an active listing, it is a Public Record which is stated directly above the Estimate.

If you have additional questions, please contact us at http://www.trulia.com/help/ask/ or call Customer Service at 1-888-466-3501.
... more
0 votes 1 answer Share Flag
Wed Jun 12, 2013
Lisa Bolanos JD answered:
Just curious as to what happened. Generally, in CA since it is a community property state, the surviving spouse receives 1/3 of the estate if there are children. The children split the remaining 1/3....that is if there is not a will. CA has a new way of taking title that is my personal favorite...community property with right of survivorship. It is very similar to joint tenancy with right of survivorship. These Re just my personal thoughts and preferences. Everyone should have a will. It makes things much easier. ... more
0 votes 6 answers Share Flag
Wed Jun 12, 2013
Lisa Bolanos JD answered:
Contact an attorney immediately. I can't understand how an estate of any kind could just be left in limbo by family members. Someone had to know and be making the payment. You will most likely need a probate attorney. ... more
0 votes 1 answer Share Flag
Wed Jun 12, 2013
Lisa Bolanos JD answered:
You should contact an attorney. Interesting question especially if there is any kind of an estate. It is usually required to go into probate within five years. I don't know why any one would wait that long. You can look online for the rules of succession if the will is void or there was not one made. ... more
0 votes 3 answers Share Flag
Tue May 7, 2013
answered:
I have to wonder if the stress of the whole thing caused the seller to pass before their time. You may need permission from the probate court to proceed. If the seller has already signed and notarized the deed then they may be able to go ahead and close it. Without that you will need permission from the probate court. You may need it with that signed. Really you have to do what the lawyers say on this. ... more
0 votes 6 answers Share Flag
Tue May 7, 2013
answered:
The properties need to be in good condition. Also if there are association fees the approval price is less. So stay away from fixers. i would also point out that you should be checking the FHA repo list. ... more
0 votes 9 answers Share Flag
Tue May 7, 2013
answered:
Well I am wondering are you the buyer? It sounds like you are using
FHA financing and therefore if there is an existing FHA appraisal you need to go by that. Good luck getting the appraiser to admit that he was wrong if that is the case. So I may be mistaken about what you are saying, but that FHA appraisal will apply for 6 months. Here is the thing, if your credit is decent you can get a conforming mortgage that most likely will do every thing the FHA financing will do for you, assuming your credit it good. ... more
0 votes 2 answers Share Flag
Tue May 7, 2013
answered:
Actually, Wells Fargo is the "conduit" for more than half the loans in California. That means that if they turn you down you need to be sure that the next lender is not using Wells as a conduit.
I may be able to do the loan for you. Let me know if you would like me to try.
... more
0 votes 6 answers Share Flag
Wed Sep 5, 2012
Ruth and Perry Mistry answered:
Hello Coco

Very common in Calif. to have multiplt appraisals and if there are multiple lenders in a rising
market with low inventory, then 4-5 months out, the 2nd lender and first lender do ask
for new appraisals.

We loose 2-3 transactions a year in silicon valley on short sales that take time, and values rise.

Sure, our buyer says s/he cant afford it and walks away.
Bank forecloses and ohhh lallalla !!

Best regards
Perry
... more
0 votes 3 answers Share Flag
Wed Mar 21, 2012
Margie Casey answered:
Dear Home Buyer,

Other than MLS, you can also search for homes sold before March 31, 2009 on the county property tax appraiser's website. These are the same records the Board will be using for comparison. Type in the Google search bar your 'county name' and 'property tax appraiser'. When you find the website, look for the online search tool. Most county property tax appraiser's websites allow you to search by neighborhood name and a specific time period.

Good Luck!
Margie Casey
Founder

p.s. If this answer helps you, a 'thumbs up' is appreciated.
... more
0 votes 4 answers Share Flag
Tue Mar 20, 2012
Jamie Hennessey answered:
I agree with Elise Temp below on all points. It is best for you to contact an attorney and also find out if that tenant in common that passed had a Will or not. That may also make a difference in the big picture. Make sure you find out that information prior to consulting with the attorney so that you have all your information and present it to that attorney when you see him/her.

Jamie Hennessey
Re/Max Champions
... more
0 votes 6 answers Share Flag
Sun Jan 2, 2011
Jane Grant answered:
There are a few that will say, "Seller Will Carry", especially if the seller of a standard sale that has been trying to sell the property for a long time.
~~~
0 votes 4 answers Share Flag
Tue Jul 20, 2010
ron buyer asked:
Sat Sep 12, 2009
Emily Knell answered:
There are many variables. Once the initial BPO or appraisal is completed, even when the operator at the bank says "we're fine" or "it looks good" or "you're in perfect shape", it still has to go through the motions with the bank. The negotiator still has to go through the sellers financial information & ultimately send the entire package to the investors for review.

I've heard within the first 2wks of putting in a package that everything looks good, and then it still has taken 40 days total to get an approval.

If you're a month in, you may still have a couple weeks to go. It's important for you to be getting regular updates from the listing agent, even if the agent doesn't have much to report. If there's a 1st & a 2nd with a different bank, well that's one variable where I don't have a definitive answer for you.

Sounds to me like you should stick with it.

emilyknell1@yahoo.com
... more
0 votes 2 answers Share Flag
Mon Sep 7, 2009
Laurel Starks answered:
Crazykfm - As a short sale listing agent, I do not submit more than one offer to the bank at a time. It is not the bank's job to "choose" an offer in a short sale, as it is in an REO. They are not the seller. Listing agents that submit more than one offer to the bank are clogging up the system.

Having said that, I would encourage you to talk with your agent about requesting that - as a condition of your offer - the Seller remove the property from "Active" status on the MLS and pick an offer, and open escrow prior to bank approval.

It is so very frustrating for you buyers to submit an offers, and the sellers refuse to commit. Therefore, I suggest that you demand they commit when you submit your offer.

Good luck!
... more
0 votes 9 answers Share Flag
Tue Aug 11, 2009
Shawn Luong answered:
No need to spend money for an attorney. The house will be deeded from the estate to yours and your brother's name. Both of you have full right to use it and dispose it, as you wish. When the probate ends next month, please have an active broker specializing in listing properties give you a written opinion of the value. This is your tax basis, as the asset is passed to you tax free. When the market comes back, whatever value increase from the recording date of the deed to you and your brother will be considered long term capital gain if you keep the house for over 365 days. The current federal tax rate is 15%. When the Bush passed tax law sunsets in 2010, we expect the current Administration to let it increase back to 20% and there is already talk in the Democratic Congress to raise it to 25%.
Then, you have to question yourself, if by waiting is worthwhile - you have to ask when the market will increase 10% to make the wait worthwhile with the tax increase. Or should you sell now to raise TAX FREE capital to acquire under market properties. Rent it for the cash flow and tax write-off and then sell it or exchange it when it is time.
... more
0 votes 2 answers Share Flag
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