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Home Selling in 95122 : Real Estate Advice

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  • Home Buying17
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Activity 3
Tue Feb 7, 2012
Charlene Weston answered:
Fair Question Laura. Try to disregard the negative and juvenile comments. Some people on these boards act very inappropriate.

This is definitely a question that is best interpreted by a Real Estate Attorney. For example, depending on the contract and how it was written/presented and followed up, it may or may not have a financing contingency in place. If so, they may not qualify for financing WITHOUT the sale of their home.

Start with your Realtor and his/her Broker for direction and referral to RE Attorney if need be.

I wish you all the best.

Regards,
Charlene Weston
Realtor/Team Leader
Weston Group
www.westongrouponline.com
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Sat Oct 18, 2008
Keith Sorem answered:
Rosalina
You have excellent posts so far.
The truth is that in real estate only things in writing are true.
When you say "short sale contract was signed" we do not know what that means.
In California there is the Residential Purchase Agreement (RPA), and another related form is the "short sale addendum".
In the RPA in section 3, b) at the bottom of the page states when possession is to take place.

Normally if owners want to rent the property after the sale concludes, they sign a separate lease agreement. The lease payment is normally equal to the buyer's principle, interest, taxes, and insurance payments (called PITI). If the buyers want to occupy BEFORE the escrow closes, there is a form for that.

It sounds to me that the best person to answer your questions would be your Realtor. If they don't know how to handle the situation, then talk with their broker, who supervises the Realtor.

It is common for sellers to rent back, the problem is that the amount of the rent they would need to pay might be more than they can afford.
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Tue Sep 25, 2007
Joe Salcedo answered:
Good Morning!

Actually my client owned a property in that area and they are rented out for
$ 1,800.00 3/2 rented for more than a year.. I think your property could
rented out for the same as my client. It depends on the condition of your
property..
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