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Home Buying in Hollywood : Real Estate Advice

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  • Home Buying8
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Activity 23
Wed Feb 11, 2015
John McQuilkin answered:
The benefit is possibly getting the home at a better price. Buying short sales come with risks so please be advised.
1 vote 14 answers Share Flag
Wed Feb 11, 2015
John McQuilkin answered:
Earnest money deposit is typically 3%. Occasionally a seller will request an increased deposit.
0 votes 16 answers Share Flag
Wed Feb 11, 2015
John McQuilkin answered:
Yes Hollywood and Whitley Heights are conveniently located and the area surrounding has improved greatly.
0 votes 5 answers Share Flag
Sun Aug 31, 2014
Randy Stoker answered:
The bank (lender) controls the short sale transaction whereby the seller has very little control over the decision making. All short sales are "As Is" so you must accept the house in it's existing condition with no exceptions. Your Realtor can help you determine the value of subject property when completely repaired and then subtract the cost of repairs; which is the value of the property in it's present As Is condition. Your offer should reflect the As Is condition. Sometimes a cover letter explaining the reason for a low offer can convince the lender to accept a low bid offer. ... more
0 votes 10 answers Share Flag
Thu May 22, 2014
inna ivchenko answered:
Dear Phillip,
What a purpose of your RE purchase? Investment or for yourself? If investment: What do you plan to do next with them: flip/rent out? What is the price range and ROI expectations? ... more
0 votes 7 answers Share Flag
Thu May 22, 2014
inna ivchenko answered:
I tried to add my sold listings a few times, but failed as well( often even For Sale don't get here)
So I stopped trying.
Good luck. Let me know if you figure it out.

Kindest regards,
Inna I.
... more
0 votes 1 answer Share Flag
Fri Apr 25, 2014
Brian Nguyen answered:
Down payments are very important for mortgage and it can be difficult to obtain a mortgage without one unless you are a veteran or seeking a rural/USDA approved property. If those circumstances apply to you, then I recommend you seek a VA or USDA loan. Otherwise, FHA loans are great loans to consider since they only require 3.5% down. There also may be some community grant programs depending on your area. The best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
brian.nguyen@nafinc.com
... more
0 votes 1 answer Share Flag
Mon Nov 11, 2013
Mack MacReady answered:
Hi Nancy,
If you have not chosen an architect, I would interview at least 3 and get their ideas. They should be able to give you an idea of what approach they recommend and some budget pricing.
Good luck.
Mack MacReady
Keller Williams Realty
mack@kw.com
... more
0 votes 5 answers Share Flag
Mon Aug 19, 2013
Alexander Greer answered:
You agent should be able to do that. If you haven't already, I can get you started by pre-approving you for a purchase loan. That way you will be able to move on the house you want and you know what is in your budget. You can call me at 408-352-5147 or email me at AGreer@themortgageoutlet.com. You can check us out at http://www.TheMortgageOutlet.com. I will look at your situation and present you with some options.

Alex Greer
NMLS #1056079
... more
0 votes 1 answer Share Flag
Mon Aug 12, 2013
Rene' De Blanco, MBA answered:
You will have more options if you save at least 5% (plus closing costs....$5000+)
0 votes 6 answers Share Flag
Sat Jun 8, 2013
Joshua Sixx answered:
You can certainly find good solid neighborhoods in the north San Fernando Valley, that can be around the price range. Sun Valley, north hollywood, van nuys could all be decent areas to check out.

Good luck Looking!

Josh www.joshsixxrealestate.com
... more
0 votes 3 answers Share Flag
Fri Mar 22, 2013
Rip answered:
When buying REO's for cash I've paid as little as $50 in closing costs, and as much as 0.5% of the purchase price ( $1500 on a 300K property). I'm guessing standard sales will be towards the latter amount.

These numbers do not include any property tax proration or insurance costs.
... more
0 votes 3 answers Share Flag
Mon Dec 3, 2012
Jenny Durling Team answered:
I don't understand why Trulia posts preforeclosure information like this as it only means a notice of default has been filed, NOT that the house can be purchased for that amount. It is truly misleading. The property is typically not for sale at this point unless the owner has listed the property as a short sale with a Realtor.

If the owner does not bring the loan current or sell the property as a short sale, it will be foreclosed on by the bank holding the loan. At that point you could attempt to purchase the property at the trustee sale (auction) which would require all cash.

If you buy a house that is listed as a short sale or bank owned, you may typically finance the purchase depending on the condition of the property. Please contact me if you would like a more in depth explanation.
... more
0 votes 4 answers Share Flag
Sat Apr 14, 2012
Home Owner answered:
Already found a condo in Hollywood. In escrow right now. Will be renting out when its ready.
0 votes 3 answers Share Flag
Mon Jan 2, 2012
Jenny Durling Team answered:
When you say 'foreclosure (auction) home", are you referring to a trustee's sale? If so, you would be responsibe for paying your own agent. In real estate, there are no standard fees- everything is negotiable. As mentioned by others here, there is a lot more to buying this way than one might expect.

If you have the cash to make a purchase and would like representation, your best bet is to speak with an agent who is experienced in this area and negotiating a fee for services. For the educated, patient and well-funded buyer, there is certainly an opportunity to get a good deal on a property.
... more
0 votes 5 answers Share Flag
Tue Oct 25, 2011
Johnny James answered:
0 votes 6 answers Share Flag
Thu Jul 28, 2011
Mimi Davies answered:
Hi Raygun,

It's been almost a year since you posted for advice on how to increase your rent if you bought the property. I'd love to hear how it all worked out in the end. Would you care to share your story with us? We learn everyday...

Thanks
... more
0 votes 9 answers Share Flag
Tue Feb 8, 2011
Saurabh Sethi answered:
Hire an attoreny. It is relatively inexpensive compared to the loss you are incurring having no rent being paid (I am assuming they are not paying, but there are a lot of details that would help, and a lawyer will definately be useful).
Also, I am a member of the Beverly HIlls Bar, I could refer a great attorney if you like.

Good Luck,
Saurabh
... more
0 votes 11 answers Share Flag
Mon Feb 7, 2011
Anika Berhang answered:
Hi Lola,

Every city is slightly different and has more or less stringent rules when it comes to Rent Control, Rent Stabilization.
If you in fact need to terminate someones tenancy in order to for example move in yourself there might be, depending on the tenant and length of tenancy relocation costs associated which can become expensive.
Just to give you an idea, check out the various links below, like i said already, you will have to do your due diligence on a case by case basis, depending on which city the property is located in.

http://lahd.lacity.org/lahdinternet/Portals/0/Rent/owner%20occupancy%207-1-10.pdf

http://lahd.lacity.org/lahdinternet/LinkClick.aspx?fileticket=Ct%2b3haVrXoM%3d&tabid=293

http://lahd.lacity.org/lahdinternet/

Good luck, please feel free to email or call with any further questions!

Anika Berhang
aaroe+williamson
The John Aaroe Group
14242 Ventura Blvd.
Sherman Oaks. CA. 91423
cell: 818.284.0434
fax: 818.783.7211
www.anikaberhang.com
www.johnaaroegroup.com
DRE# 01821300
... more
0 votes 5 answers Share Flag
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