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92808 : Real Estate Advice

  • All4
  • Local Info0
  • Home Buying3
  • Home Selling0
  • Market Conditions0

Activity 4
Thu Dec 15, 2016
Rich Reed answered:
Prior to November, 2014, Realtors in CA used form WPA to identify who was going to prepare a termite report, who was going to pay for the report, the scope of the report, and who was going to pay for repairs recommended by the report. The WPA form was discontinued because those sellers who agreed to pay for repairs recommended in an inspection report that they had not yet seen and for which the inspection was not yet conducted were often surprised at the scope and cost of recommended repairs. Sellers did not agree in advance to pay for repairs, whether the discovery had to do with a roof, pool, foundation, plumbing or any other problem (unless your specific contract says otherwise). A property is usually sold in as-is condition and a buyer would first get inspections and then ask the seller to pay for repairs or correct defects. You should ask your Realtor about your specific contract and seek advice from legal counsel where appropriate. Hope this helps!
I am a real estate broker qualified to advise you on California real estate matters, not the law. If you desire legal advice, consult with an attorney.
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Mon Mar 30, 2015
answered:
Well I guess it is public information, they may not be the owner of that mortgage any longer.

If it is a foreclosure, you need to know who is handling the foreclosure as this sounds like a mortgage banker and they would have sold the loan. That would take some more work. Let me know.

$237,100.00 Lender: Western Capital Mortgage
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Wed Sep 19, 2012
Mahesh Patel answered:
Most likely you will. Many people buy properties for the purpose of tax breaks!! I would call a legal tax expert or your CPA for questions that pertains to your situation.

Good luck. ... more
0 votes 7 answers Share Flag
Thu Apr 15, 2010
Karen Parsons Fiddler answered:
Hi John,

You have the correct answers already.....but why are you concerned? Are you not getting one from your lender? This is something to think about, and make sure you have a lender that is doing the right things.

Karen
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