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93110 : Real Estate Advice

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  • Home Buying1
  • Home Selling3
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Activity 4
Fri Oct 14, 2016
Rich Reed answered:
What does your contract say? Generally if the buyer cancels in good faith using a contract contingency, you are not entitled to the earnest money deposit.
0 votes 1 answer Share Flag
Sun Sep 8, 2013
Irina Karan answered:
Hello Sharon,

The best area to find out the exact procedure of "reconverting" or "legalizing" the garage conversion is with the city. Sometimes, there is "grandfathering" and they even tax the property as if the house was built without a garage. Sometimes, you have a certain time period to bring the place "up to code".
Yet, there are times, when you do have to pay fines - normally, when the owner disregards all notices from the city for a very long time. After such a long time, there could be potential liens on the property, put by the city, running at $100/day. Any bills like that could be negotiated down as the city is interested in resolution of the conflicting situation. The lien is not on the owner, it is on the property.

The best course of action is to hire an architect/structural engineer - possibly the one known to the city as a reliable professional. The architect prepares the plans and a licensed contract fixes the issues, and you are good to go.

Cooperation with the city yields good results!

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
... more
0 votes 5 answers Share Flag
Sat Oct 13, 2012
Sheyenne Schultz answered:
Yes you have the right to CANCEL your listing agreement BEFORE a listing expiration date! You are the client...the agent..and the brokerage work for YOU... The agent had a fiduciary obligation to represent YOU and do their due diligence and market the property as aggressively as possible to obtain buyers and get a sale. Please read your listing agreement to see what he/she may have put in there if you owe them anything for cancelling BEFORE the listing period is OVER.
If the agent did NOT give u a copy of your signed listing agreement AT the time of signing or within a maximum of 12-24 hours...this is a serious violation of Article 9 of the code of ethics and the contract could be null and void. Also... if he/she NEVER gave u a copy to this date...then he or she could have written anything on the agreement without your consent or knowledge, and this wouldn't hold up in any court of law on their part.
I just helped 3 people in this situation in the past 3 months.
If you go ahead with your cancellation do 3 things:
1) send a written email, text, fax...and registered or certified letter or go INTO the brokerage with a witness and give a written copy of your wish on paper, dated to CANCEL the listing agreement.
In other it in WRITING...verbal or via the phone is heresay.(demand a copy of your agreement while u are in the NOT take no for an answer..believe IS on file, if u do NOT have a copy)
Then demand they fax, email, or give u in person asap with a deadline on it...the cancellation of listing form CAR FORM (COL). Please look it over and if everything was done correctly, meaning when u signed you DID get a copy of your listing agreement right then and there and if u did not agree to any cancellation fee..etc... then make sure BEFORE u sign, the box #4 is marked that says...principal(YOU) owe no commission (ZERO) to the agent/brokerage.
2)Also demand they take their post and sign down asap within a specific time period.
The Realtor can take their SIGN down asap..the post company may take 24-48 hrs to come by and take the post down, but you can also show them u mean business by pulling it out of the ground and laying it on the side of the house and telling them it is there...They will move faster this way..:))
3)Also tell them in writing again or face to face with your witness in their office, or via email, fax and cancel your listing ASAP in the mls within a specific time frame... It takes the agent or broker
like 3 minutes to do this...all they need is your authorization and to get into the mls on their computer and go to the listing and hit the CANCEL button, etc... not hard to do...

He WAS supposed to be the "expert" on selling this property. If a home isn't getting any offers within the 1st 2 wks..then it's time to sit down with YOU and go over what tweaks can be made in order to obtain offers....even if it means lowering the price, etc...sounds like he just HID and wished for the best... .HE is the realtor...HE did the comps...HE saw the house before listing it inside and out...I assume. So for him to come back NOW and tell you it's YOUR fault it is NOT selling due to it being small and not being 2 full baths is CRAP...then he should have done the comparables based on other homes as small as this one and with 1 1/2 bath...etc.. and it IS his job to advertise on sites...He can go on listing syndication sites that will automatically post your listing on MULTIPLE sites at once to gain exposure.
The HUGE RED FLAG is NOT returning phone calls...
Any realtor should return phone calls within 12-24 hours max...if they are not on vacation and IN the country. Once he did NOT return your call after the 2nd or third time..I would have cancelled THEN, after giving him a warning.
NO CELL PHONE??? You gotta be kidding me!!! In this day and age of technology?
I hate to say it..but it sounds like this realtor is OLD or elderly? Possibly from another era and time in the real estate world and holding onto old tactics of selling homes...I could be wrong but this is what it sounds like...
If you need help or guidance with this..because it IS stressful and uncomfortable..please let me know and I will help you in any way I can...I hate to see sellers being taken advantage of by real estate professionals who take advantage of the general public not knowing their rights or knowing better.
Hope this helps... Sheyenne Schultz 310-429-4170
... more
0 votes 7 answers Share Flag
Sat Jan 17, 2009
Kevin Schmidtchen answered:
The only true way to get an idea would be to have an experienced real estate agent come by and give you a value of your home. Then based on costs you could do a comparison although nothing truly 100%. The only way to know ultimately would be to see what the home would get on the open market (listing it for sale) and then based on this do a comparison back to the costs of the project. You would then take this and compare against the latest comp of a property that did not have a remodel done (if possible).

Hope this helps.

Kevin Schmidtchen
Sotheby's Int'l Realty
Santa Barbara CA
... more
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