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Home Buying in 94538 : Real Estate Advice

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  • Local Info9
  • Home Buying45
  • Home Selling4
  • Market Conditions1

Activity 46
Fri Sep 15, 2017
Susie Kay answered:
Well you put your cash in a financial institution first until you find a home that you like.
Depending upon how much cash you received, you may want to consult with a CPA first.
0 votes 1 answer Share Flag
Sun Jul 9, 2017
Robert Spinosa answered:
Radkan,

If you're on a work visa (H-1B, L-1, etc.) you can get jumbo financing up to a price of about $1.6MM, but you'll need a 10% down payment. The other key factors are established US credit history (generally we prefer to see two years) and two years of US tax returns filed. But if you have the above, your terms will be very competitive and we have helped many buyers in this situation.

Jumbo loans with 5% down are still relatively stringent and while we do have a single loan solution (with no PMI) that will go to a loan amount of $1.5MM with just 5% down, this program can be a challenging qualification even for a US citizen.

Let me know if you'd like to discuss your scenario directly and we are local to the SF Bay Area. Thank you!
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Sun Dec 18, 2016
Wilford.fender answered:
Timely suggestions ! Coincidentally , people want a CA Interspousal Transfer Grant Deed , my colleagues discovered a blank document here https://goo.gl/sR84vt
0 votes 7 answers Share Flag
Sat Sep 17, 2016
Susie Kay answered:
If you are referring to crime in the area then I would suggest that you contact the local police department. They will have the most accurate info.
0 votes 2 answers Share Flag
Sat Jun 11, 2016
Rich Reed answered:
Glad you were able to get a loan modification. Your property had a "Notice of Default" filed against it with the County. It is a matter of public record. This site, and anybody, really, can access that information. The party foreclosing your property needs to file a "Rescission of Notice of Default."
On another subject, I'm wondering, why have you listed another agent's license number in your profile, 00805386, instead of your own license number, 01168594?
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Sun Oct 18, 2015
Kola70 answered:
Thu Sep 17, 2015
89jackmoore answered:
Personally, I think that would depend heavily on you personally. If you plan on using that specific storage facility, then that would definitely be a pro. If you aren't, then I'd look at expected traffic, noise, and other things that will affect your experience there. If those cons don't outweigh the other pros you like about the house, I'd say go for it! http://www.storagestation.ca/self-storage-surrey-bc.htm ... more
0 votes 8 answers Share Flag
Sun Aug 30, 2015
Susie Kay answered:
New grad,

Ask whether you can talk to the appraiser. After all, as a buyer you paid for their fees.

Regardless whether the appraiser is trying to come up with reasons to come close enough to the offer price or not, every appraiser has to be able to stand in front of the court to defend their numbers if there's a lawsuit.

I hope this helps!
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0 votes 1 answer Share Flag
Wed May 27, 2015
Susie Kay answered:
I would suggest that you pick up the phone and call a lender or two. A good lender will be able to analyze your situation and give you options. Then you can select the best loan that is suitable for you.

I hope this helps!
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0 votes 9 answers Share Flag
Sat Mar 28, 2015
Charo Bhatt answered:
Hello Rajendran,

You may have an answer to your question by now... if not let me ask you where/which site are you looking at the transfer value of the property? We have county record we can search it for you more quickly and easily. But you may not be able to own the property at that value. Property price analysis are done based on the recent market activity of a neighborhood not the the transfer data/value. Is the property currently in MLS as an active listing?

Feel free to contact me if your question is not answered and you have yet not been able to own that property. Your question is a bit unclear to me, but I'll be happy to assist you should you need any further help.

Good luck to you,

Charo Bhatt
www.HomesByCharo.com
510-381-2105
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0 votes 2 answers Share Flag
Fri Nov 14, 2014
Ali Qureshi answered:
1-An "AS-IS" property means that you are agreeing to buy the property in its given condition. However, you are free to still get inspections done on the property for your satisfaction but the seller will probably NOT perform any repairs or re-consider the price based on the outcome.

2- It is usually the case with Auction properties that you are not allowed access to view the property from inside. However, you can still do your due diligence by driving around the property, checking the neighborhood and maybe speaking with some of the cooperating neighbors.

3- I find Cash-For-keys to be the most efficient method of negotiating with the tenant to vacate the property. Depending on the location of the property, legal options may take a lot more time and money to resolve.
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Tue Apr 8, 2014
Ali Qureshi answered:
Tue Apr 8, 2014
Ali Qureshi answered:
What did you end up doing? The same property now is in the high 300's
0 votes 5 answers Share Flag
Thu May 23, 2013
The Medford Team answered:
An application for updating square footage with the county means that the amount of square footage shown in the country records is different than the actual square footage of the property and that the owner has applied to have the county record updated to match reality. It in no way means that any of the upgrades or additions were done with permits. The fact that the owner has applied but does not yet have the finalized square footage from the county raises red flags for me.

If county records do not reflect the actual square footage, it is CRITICAL to discover why not. Appraisers usually cannot count square footage that does not match county records and in some cases, insurance companies will not insure square footage that is not permitted.

County records are usually updated when a project receives its final approval from a city building department, so it’s important to always check the city records for permits. If there is no building permit on file at the city for the addition, then the work has NOT been permitted. In some cases, the project may have gone through planning and then to approved permits for building, but, if the project has never been finalled*, then, in essence, it was not completed with permits.

Evangeline’s makes a statement below, “The main thing your friend needs to know is whether the work done on the property is to code standards for that city.” I totally disagree. Since I’m a Realtor AND a licensed general contractor, I know that even if the work meets local building codes, if it was NOT permitted, then it’s illegal. Any unpermitted structure as such, even if it meets current building codes, can have extensive liability for the current owner and any subsequent buyer. Anyone buying an unpermitted structure is assuming all the potential liability. Buyer beware.

I have a few other concerns as well: not only does a property need permits for additional square footage that has been added, permits also need to be pulled for adding bedrooms, bathrooms, remodeling kitchens and baths, installing light fixtures, upgrading plumbing and electrical and so on. Since this specific property has been extensively upgraded, if a search of city permit records reveals that there are no permits for any of these upgrades, then we can assume it was all done without permits as well.

The only way to get unapproved structures to approved status is to get the city building department involved. This will mean obtaining permits, having the structure inspected by city building department officials and then doing whatever they say needs to be done to bring the building into compliance. This could be a VERY costly process and, as stated below, they could actually insist that any unpermitted structure, regardless of whether or not it was built to code, be removed.

Here are a couple of posts that may be helpful:

You TOO Can Purchase A Ticking Time Bomb! One Easy Step!
http://www.trulia.com/blog/carl_medford/2008/12/you_too_can_purchase_a_t

What Might Your Next Home Purchase Have In Common With The Titanic? 7 Key Recommendations
http://www.trulia.com/blog/carl_medford/2008/12/what_might_your_next_hom

*“Finalled” means that the building has gone through the proper planning and permit process, has had all of the various phases of work inspected by city building officials and signed off as completed, has had the final inspection approved and has received its occupancy certificate.
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Fri Apr 12, 2013
Kevin and Julie McLaughlin answered:
Hi Darren - As stated in other posts, you really need an attorney... if the HOA filed a judgment prior to the foreclosure, they may have a case, but again I must recommend an attorney. To get some online help, you can try LawGuru.com - I can't say if they will be any help or not, but you can try it for free - I wish you the best of luck. ... more
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Sun Jul 22, 2012
John Juarez answered:
In order for a party such as a HOA to obtain money from your bank account, they would have to sue you, win the suit and obtain a judgment against you. Armed with a judgment, they could ask a court to levy against assets that you may have including bank accounts.
The above is just a short version of what I believe the process to be. Of course, I am not a lawyer and you should not rely on my opinion. Check with an attorney for factual legal answers.
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0 votes 6 answers Share Flag
Sun Jul 15, 2012
answered:
There are alos pledge asset loans that allow you to pledge a portion of your stock or investment portfolio to make up the difference of the 20%.
So... you put 5% down cash and pledge 15% or more of the purchase value in your stock/investment account.
The qualityof the stock will be analyzed by the investor's analyst. Obviously, the better former your stock, the lower the amount of assets pledge required.
Retirement accounts and IRAs are not allowed as these accounts may not be legally liened against.
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0 votes 4 answers Share Flag
Sun Jul 15, 2012
answered:
When the lender issues the mortgage statement at the end of the year, there are usually two or three copies.
The mortgage interest may be claimed by any of those individuals or any combination thereof, however....the combination may not exceed 100% of the interest paid.
Your mom could claim 20% of it and the uncle 80%.
I have been watching this happen for years!

A conversation with a CPA is always advised.
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Sat May 12, 2012
Jason Huang answered:
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