I was on the same boat with an ineffectial realtor. Every single property I saw I found them on Trulia...including the one I ultimately put in the offer that was too low for the seller. I told the realtor that I wanted the property and would do whatever it took to negotiate, but she gave no valuable tips or advise and ultimately lost the property. Now I want to use another realtor and really don't want her to benefit from me at all. Even if I found the property, the procuring realtor has a chance to collect the commission? Doesn't seem fair.... more
I agree with Richard completely. I have yet to see a house that was cheap enough or special enough to justify the risk and aggravation involved with buying a foreclosure or short sale. There are plenty of dumpy homes that you can buy directly from the seller, not the bank. I suggest you buy one of those instead.
Buying a Home? Don't Let Them Make a Monkey Out of You! Follow the link below.
Yes the realtor was correct about needed a pre approval to write an offer but if you have one and they won't write the offer . why not? Because you didn't use their lender? Then get another realtor to work with. Tell that agent why you are working with another agent to write your offer before they find out in the middle of the escrow and cause problems for you. The agent should have communicated more with you on why your prequal will not work so your not asking here. We need more information from you.... more
Honestly? Trulia is a very tough site for adding, editing and deleting information. I have been using facebook, craigslist, backpage and other sites, as well as my listing to advertise open houses.... more
Hello Matt, yes they are trying to clarify something so when you have blacked out things or left out a page that raises a red flag to underwriters too. Hope it all worked out or let me know.
It only takes a few dozen questions to qualify and go over your options. Here are some links to study as well as web reference links to many loan program pages offered...
Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
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REO & Short Sale Specialist
Credit Repair At No Cost
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9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7
Under640FicoScoreLoans@gmail.com or HomeLoans4U@live.com
If my response was helpful, consider clicking Thank, Link or Best Answer.... more
You need to check the county records to determine the exact zoning and what kind of construction you can do. For example, if a land is 1 acre and if it is zoned agriculture then city may not allow you do subdivide the parcel but perhaps authorize for 1 house. So city is the first step. If city is ok then call an architect to draw drawings. Once drawings have been finalized by you and your contractor then go to city and apply for permits.... more
I have worked with many home owners and Investors who have added square footage and/or done improvements. I am working with one investor who is building a house in Pleasanton. Depending on the contractor and the city, price can rage anywhere starting from $100 SqFt. My client uses a contractor and depending on the project he charges around $150/ SqFt.... more
Keep in mind that you are talking about two different events. They are linked but they are separate.
One is the reporting of the forgiveness of debt done to the IRS by your lender.
The second event is the possible liability for the payment of income tax on the forgiven debt. You may or may not be liable for payment of any taxes on this forgiven debt. Your bankruptcy attorney or qualified tax professional is the person to whom you should direct your questions.... more
In my opinion there is no benefit to the buyer by using the seller's agent. It is unwise to make long term decisions based on a few thousand dollars, especially when making decisions involving hundreds of thousands of dollars.
Just my opinion...
The 680 Group at Alain Pinel Realtors
(925) 463-2000... more
I always have clients looking for a good sized home with either a section of the home thatâ€™s been converted to a separate â€œmother-in-lawâ€ unit or a standalone unit out back. I actually have a couple right now. Problem is, most neighborhoods are zoned for single occupancy and local building officials will not allow any additional living units of any kind. Itâ€™s why we see so many â€œnon-permittedâ€ variants as families get â€œcreativeâ€ to try to accommodate specific needs. Many of these run into issues with neighbors, city officials or have liability issues when selling because of the non-permitted â€œadditions.â€
You asked a couple of questions:
Q1: How would this affect the resale value?
A: In most cases, if properly done, it will increase value. In reality, homes that have an extra legal unit are classified as duplexes and will therefore have value based on total square footage AND income potential. These types of homes are very popular and, if done right, typically sell very quickly.
Q2: and property taxes?
A: This will increase the property taxes. When you add permitted square footage, the property is re-assessed by the County based on the existing tax base for that specific home.... more