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Home Selling in Laguna Niguel : Real Estate Advice

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  • Home Buying27
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Activity 7
Wed Feb 15, 2017
Nicole Fedorchek answered:
Keys are usually given when escrow closes, unless the buyer/seller have agreed to an earlier or later time.
0 votes 1 answer Share Flag
Wed Apr 8, 2015
Lisa Orenge answered:
You give the keys to the buyer the day the property records / closes.
But please refer to your purchase contract. If the date / time has been changed on that, you must go by what it says. ... more
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Wed Mar 4, 2015
answered:
I worked for a few months as termite inspector back in the 1980's (I hated the job but it paid well.) Now I am a realtor / lender.

I am local and I would recommend you call me and have me look at what you are having.

I would just be doing it as a favor, I am no longer in business. But here is the low down on wood infecting organisms. I could save you a couple of thousand dollars on this. My phone number is 714-421-1037.

The termite issue needs to be handled either as soon as the house is listed or before. Do not wait until the last minute to deal with it. I can cause delays in closing your escrow..

Most of that stuff can be handled quite easily, but if the termite inspector puts it on their report, then it becomes a public record and then you will need a notice of completion to get your house sold. So not handling it correctly could cost you a couple of thousand dollars, and I bet you probably have something better to spend it on.



1. Dry-wood Termites. The most common problem is dry-wood termites. i recommend just removing the wood and replacing it.
A. If this is an option then you want to do it before the inspector. Otherwise it will become a public record and you will need a notice of completion to get rid of it.
B. While I think the most effective method is to replace the wood, to get the notice of completion may require an expensive fumigation.

My problem with Fumigation is I do not think that Vikane is very effective and they no longer allow methyl Bromide fumigation. However sometimes a fumigation is really the only thing that you can do and is needed. Expect to pay $2000-$10,000 depending on a few factors like the size of the house.

Please note I am not advocating covering up problems and trying to pawn them off on an unwitting buyer. I just think that this is the most effective way to do it, it just happens to also be the most cost effective. When you sell a house the homeowner has 2 years to discover problems and come back to the seller. Do not try to sweep any problems under the rug.

I have been a licensed real estate agent and have seen termite issues come up months and years after the close of a house at least 5 times. It is a common occurrence and if handled wrong could lead to costly litigation.

2. Wood Rot. The 2nd most common item is wood rot. If the wood is damaged, you need to simply remove and replace the wood. If not you may be able to scrape off the wood fungus and paint the wood with treated paint.

3. Subterranean Termites, These termites can cause the most damage. Again you need to remove and replace the wood. You then need to treat the soil. This is not that hard, I do quite often.

Another mistake is to have the home inspected, and then have a third party do the work. Either do the work then have the home inspected or have the termite company do the work. Otherwise the seller is still liable for any termite problems that might come up later.

My guess is that you will not know which is which. So if you have some kind of an issue then you really should call me out and I can look at it for you. My cell is 714-421-1037.
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Richard Litt…, Real Estate Pro in Orange County, CA
Contact
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Wed Feb 13, 2013
Steve Colvin answered:
Yes all of the above. In order,
1. Funding
2. Recording
3. Transfer of funds (sometimes this could be the next day or if Friday could be Monday). Usually escrow is 1-2 days behind on disbursements ... more
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Mon Oct 4, 2010
Steven Abraham First Team answered:
Robert,
Okay!
Before I get started, I am not an attorney and this information is strictly an opinion!
That being said, if you were to speak to a group of real estate attorneys, brokers and agents, you will receive conflicting and confusing information.
Here is the problem with SB800 and your particular circumstance:
Although SB800 was intended for builders in the trade of building homes to sell (c.c. 911), you are liable because of the building standards required in this bill (c.c. 869).
This bill was written to protect the consumer and to limit the liability of the builder.
If problems occur with the construction or something as small as cabinet doors, the buyer can claim you are liable and the decision could be up to a judge to determine the outcome.
Keep in mind, with the New Construction Addendum buyers and sellers have a choice of Adversarial or Non-Adversarial.
Well, kind-of-sort-of, but we will save that for a later discussion.
With this Bill in place and your situation, you have a few choices to make-
The buyer may use the standard Residential Purchase Agreement Contract (CAR form) and add the New Construction Addendum (CAR form).
If you accept their agreement, you are acknowledging you are in agreement to abide by SB800.
If the buyer simply uses the Res. Purchase Agreement without the New Construction Addendum and a problem occurs later, you could argue that your intent was to live in the home, decided to sell it simply as a homeowner and that SB800 did not apply to you.
Either way, You are in a defensive position because of SB800.
Bottom line- The law is the law! You can express your intent, but you are liable because of SB800.
What I Would do-
Provide the buyer with a Builder's Warranty. There are a few good companies out there. This is not a Home Warranty.
If you are insolvent, you will need to provide a Surety Bond as well.
SB800 is complicated.
You definitely want a Realtor who is experienced in New Construction representing you.
Because you are a subcontractor or contractor of the home, you will be liable for issues that arise with the home.
The Builder's Warranty and, if necessary, the surety bond will help!
Real Estate Brokers and Agents are not allowed to give legal advice and if you have legal questions, you should consult an experienced real estate attorney in your area!
Call me and I can go into greater detail from a real estate broker’s perspective!
My direct number is 949.378.4005.
Best,
Steven
Steven Abraham
Licensed Real Estate Broker
License # 01246369
“25 Years of Professional Real Estate Experience”
Prudential CA Realty
Prudential Commercial Investment Division
“A Berkshire Hathaway Affiliate”
CEO-Laguna Castles, Inc.
lagunacastles.com
lagunacastles@cox.net
949.378.4005 Direct
... more
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Sat Aug 21, 2010
Michael Benninger answered:
Wed May 28, 2008
Dave Osborne answered:
The only "must pays" are existing loans and interest, taxes, liens and judgments. Everything else is negotiable. Granted you will have a hard time finding a good Realtor to work for free, but nothing dictates that you have to use a Realtor. There are "typical" seller expenses but in the case of many Bank Owner properties and short sales, we are seeing the banks not willing to pay any of the typical associated seller costs.

If the house is not bank owned or a short sale, the seller should consider all the seller contribution requests made by the buyer and factor those into their decision. If you have a specific scenario in mind and are not under a listing agreement currently, I would be happy to discuss your situation with you at no cost and with no obligation. Thanks and good luck in the sale of your home.

Dave Osborne
714-349-5454
... more
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