A salesperson may not accept compensation for licensed activity nor pay compensation for licensed activity except through the broker under whom he/she is at the time licensed (CA BUSINESS AND PROFESSIONS CODE SECTION 10137).
If what you did were an activity requiring a real estate license (Section 10131), then it would have to go through your broker.
If you used your real estate license, you would have to follow the rules that apply.
If it were unlicensed activity, then it wouldn't matter that you have a license for that transaction.
Only you, with advice from your attorney and/or broker, can decide if it were licensed activity.
My opinion is that if you help others with the purchase, sale, exchange of real property or business opportunities, and receive compensation, you need a broker license or a salesperson license and be employed by a broker.... more
Unfortunately, we didn't get enough information about your problem to resolve the issue. Please provide us with complete property address and we will be able to assist. You may also send your request together with your complete address via the link below.
I believe most loan officers want two years income plus financial docs ( W2's tax returns etc.). I work the greater Los Angeles and Westside Market and have never seen an income property for the price you are indicating. If you can use the cash you have as a down payment on a loan, that might be a possibility. I believe the average price for a one bedroom condo that you might be able to use as an investment is much higher .... more
It's disheartening to hear about the poor service you received from your agent, but it does sound like you are in escrow and will complete the transaction with this person.
You can complain to the Broker in the office where your agent works and perhaps some resolution could be reached.
I actually never heard of an agent paying for termite treatments, inspections are sometimes done at no charge though. If you cannot get satisfaction from the broker you may need legal advice at this point.... more
Hi, Commission rates are negotiable and can vary. The key to negotiating the best rate is to compare and interview several agents in your local area. We started UpNest (http://www.upnest.com) to help you compare top agents that compete to earn your business. Since agents compete for you, they offer their very best rates and services. You'll also get to "comparison shop" like you do for all the other things you usually pay for. It's free and there's no risk to try us out, Good luck! http://www.upnest.com... more
It sounds like you are referring to lending guidelines, and it is the lending guidelines of the lender that you have contacted. Many lenders do have this guideline, there are many that do not have this rule.
Though they all do want to source the money to be sure it is not drug money. If it were to turnout that it was drug money the government could seize the property and nullify the lien on the loan. So we just need to show where the money came from. I have seen the government confiscated properties this way, and had heard that they overturned this rule. I am not sure they have.
Also they want to be sure you did not borrow the money, and then owe a payment to another party, which would make you not fit into their lending guidelines.
I am a broker and have access to hundreds of lenders, give me a call at 714-968-2500 and maybe we can put this loan together for you.
Yes. To post your home for sale by owner on Trulia, click the link below and select “Submit listings for sale.”
You will be redirected to our partner site, Zillow. Once you’re on Zillow’s posting page, please make sure to select “For Sale by Owner” under the address field. Once you activate your listing on Zillow, it will appear on Trulia within 24 hours.
I would recommend pulling up the zip codes for both Milpitas and the Berryessa area of San Jose here on Trulia and also on Zillow to see what the trends are. If they are both ok for you, then given our relatively low inventory you can look in both, and go with whichever one produces a good deal first. You can email me for more specifics. Are you looking for fixer uppers?