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Home Selling in 92833 : Real Estate Advice

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  • Local Info1
  • Home Buying13
  • Home Selling6
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Activity 6
Wed Jun 8, 2016
Have a title company handle it for your. No realtor needed. If you need a referral to a good one or a mortgage to do so call me. I am a realtor/broker and will help you with the paperwork for free if your sister uses me for the mortgage.


CA BRE Lic 01080071 NMLS lic 287206 Equal housing lender
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Mon May 16, 2016
Sheryl Arndt answered:
Hello John, the banks will not lend more than a house is worth at market value per appraisal so it will depend on if the buyers have all cash or are paying the difference of the appraised value and the asking price.

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Tue Dec 8, 2015
Claudia Muller answered:
Old question...but very common.
Yes, any one person can sell you a home at any price of their choosing.
Gift Equity is perfectly acceptable with a gift letter.

To ascertain the value, the lender will request a new appraisal.

The actual value of the home for loan to value purposes is going to be the new purchase price regardless of appraised value.

In this case $440/$550 would be 80%.

It can be one and I am guessing ....has already been done with much success!!

The new property tax bill will be calculated on your purchase price of the home.
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Tue Dec 8, 2015
Claudia Muller answered:
A Quitclaim Deed is what you are going to need friend to fill out.
Quitclaim deeds may be filled out and filed in a day. While it is recommended that you consult with an attorney before filing any legal paperwork about which you aren't sure of the full outcome, you may get the necessary forms on your own. A blank quitclaim deed form may be found from any California county recorder's website. You may also find the forms at a local attorney's office or real estate agent. Some office supply stores also provide quitclaim deed forms.
To fill out this form, you will need the APN, or Assessor's Parcel Number. This may be found in a variety of locations. It is definitely on your tax bills, may be listed in your mortgage agreement, and is almost certainly listed on the property's title and deed paperwork. If your county or city has a comprehensive property listing website, the APN may also be found online.
You will need to pay a transfer tax on the transaction. You can calculate this tax by consulting with your county recorder's office either by phone, online or in person. If you are exempt from taxes for any reason, obtain and fill out a Notice of Exempt Transactions to attach to your quitclaim deed.
The rest of the form can be filled out as normal, with the names of both parties, the address of the property and city and county information. Use the information on the property deed and make sure they match. Once the form is filled out, simply sign it before a notary public and file it in your.

For you and Nicole: by transferring your name to the title you are responsible for the taxes and liable for any potential law suits, etc.
You are not obligated on the loan. The loan is not in your name. Should the loan go into default, you may lose the property, but you are not legally obligated on the loan.

Friend will not be able to sell the property nor will friend be able to put additional financing on the property as he will no longer have any legal rights to the property. He is giving it to you....

If he wants to put it in your name and maintain his own name on property, then he could Quit Claim Deed the property to both you and his self.

It would be very helpful to know what it is that your friend is trying to accomplish by putting the property into your name.
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Fri Dec 12, 2014
Walter 'Skip' Kersten answered:
Hi Natalie, yes your husband can sell his Fullerton home to his sister. You should be able to do it without coming to CA, if that is what you are asking. You can contact me through my profile if you have specific questions.
Good luck,
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Wed Oct 8, 2014
Temple Stratton answered:
It Pays to work with a Realtor! Have someone on your side as a guide through the entire process. Plan your goals for today and tomorrow. Give me a call I love to talk about my favorite subject Real Estate! ... more
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