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Home Selling in Napa : Real Estate Advice

  • All153
  • Local Info5
  • Home Buying53
  • Home Selling9
  • Market Conditions10

Activity 15
Mon May 29, 2017
Quriuz answered:
Can a seller resell ur mobile home after uve requested sum form of documents saying u own the home. SORRY for shorthand.
0 votes 5 answers Share Flag
Thu Mar 9, 2017
sebastien.jaunin asked:
After 2 years I am selling my home. We had an inspection and the inspector gave to the buyers the inspection report that we had when we bought the house.
The inspector couldn't find…
0 votes 0 Answers Share Flag
Thu Aug 18, 2016
Rich Reed answered:
You can list at any price that you wish. Appraisals are an opinion of price from the appraiser. If you had different appraisals you would likely get a different price on each one. If you are working with a Realtor, your agent can give you advice relevant to your market for pricing strategy. ... more
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Thu Aug 18, 2016
Neil Roxas answered:

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 activate your listing on Zillow, it will appear on Trulia within 24 hours.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

Thank you for using Trulia!

Consumer Care Advocate
... more
0 votes 2 answers Share Flag
Sun Jul 19, 2015
Vimlan Vandien asked:
Tue Oct 28, 2014
C Chapman answered:
If Trulia would at least use current comps (2 mos or less that have sold) and use properties that are actually in the same subdivision or at least, near the subject property, they might get close to an accurate value....I understand people living in Idaho, Utah and Colorado are shunning these types of websites.. The "net" will eventually drown itself by continuing to be inaccurate. Wonder what the future holds? ... more
0 votes 3 answers Share Flag
Fri Jan 18, 2013
Salim Vasani answered:
I second Charlie. You can do it with However, ask your realtor to do it. It doesn't take too much time.
0 votes 6 answers Share Flag
Sun Jan 6, 2013
The Medford Team answered:
Are you asking a question or making a statement? As a broker, you should know the answer to this question – the Blog section of Trulia is better suited for this approach.
0 votes 5 answers Share Flag
Wed May 26, 2010
Don Tepper answered:
Let's approach this from two angles. First, you ask how it affects you and your bottom line.

Properly structured, it'll provide some up-front cash (the option fee), income slightly higher than ordinary rent, and the possibility of a sale down the road.

Let's now address some of the statements--correct and incorrect--below:

If you get into a price today and prices go up tomorrow, you may be stuck with todays price in a year.
True. The price is usually set up-front, though it doesn't have to be. So that's why you set the price HIGHER than today's value. After all, if they could buy right now, they would. They can't. So you charge a premium for that. Let's say in today's market your home is worth $400,000. You might agree on a purchase price of $440,000 at any point in the next 3 years. Ask yourself: Would you be satisfied with that as a sales price? If yes, fine. And if the market soars and the home is really worth $460,000, that's life.

The buyer usually has the option to not buy but may loose his/her option deposit. If they do purchase, then the option money goes towards the price.
Actually, the buyer always has the option not to buy. That's why it's called an option. And, yes, they're almost always structured so that the buyer loses his/her option deposit. Remember: It's not a downpayment, and it's not a security deposit. It's a fee (an option fee), in return for which you've given them something of value: The right to buy your property.

Another thing to consider is what do you do it they don't take care of the property, because you cannot just give them a notice to move.
You structure the lease to make the tenants responsible for minor repairs. And, yes, you can just give them a notice to move. They're leasing the property from you. Although they may have an equitable interest (see below), they're there as tenants. Just make sure your lease complies with all state and local regulations.

My attorney told me that a lease option gives the tenant a "beneficial interest in the real estate". This significantly changes the landlord/tenant relationship so you need to understand HOW this affects you.
I advise you to check with an attorney who knows and understands lease options. You will probably be told that the landlord/tenant relationship does not significantly change. The lease is the lease. The option is separate. But do check with a knowledgeable attorney.

My accountant told me that, based on how the agreement is written, the length of time, the rights of the tenant, etc. is how it will be handled for income tax purposes.
I advise you to check with an accountant who knows and understands lease options. Your goal is to have two documents: a lease and an option. I'll leave it at that.

If property is renting well in your area you can rent without giving an option.
Generally true. However, some sellers like lease-options even when property is renting well. As you note, you have your property up for sale. You'd rather sell than rent. So a lease-option at least gives you a potential buyer. Rent without the option if you wish, but if you want to sell and you don't have any buyers lined up, then at least a lease-option gives you a chance.

If you give an option and prices go up the seller does NOT get that appreciation.
Generally true, as noted above. However, options can be structured to share that appreciation. It's all negotiable. What IS needed in the option is a clear, unambiguous way to determine the sale price. And most parties prefer a solid number. But it can be based on other factors, everything from indexing for inflation to requiring an appraisal at the time the option is exercised.

If you give an option and prices go down the lesee probably won't buy it - they will go and find
a cheaper house somewhere else.
Maybe. But you always have the right to renegotiate the option to offer a lower price, if you wish. Or you can extend the option period. And, worst case scenario: You've collected a non-refundable option fee. You've leased the property at above-market rent. And now, if you wish, you can repeat that process.

I have found most times this benefits the buyer more so than the seller.
Everyone's experience is different. But there are plenty of benefits to the seller. Again, up-front option fee, slightly higher than market rents, and the possibility of having a buyer lined up.

The purchase contract will discuss all elements of the purchase.
Not in a lease-option. A lease-option is a lease and an OPTION to buy. A lease-purchase is a lease coupled with a PURCHASE agreement. And either one is fine. But recognize that they are different. A lease-option is a unilateral agreement, whereas a lease-purchase is a bilateral agreement.

Out of space. But hope that helps.
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0 votes 8 answers Share Flag
Wed May 26, 2010
Pam Vanderschoot answered:
It's nice that you are in a family park. It opens you up to more buyers. I currently have a sale pending on my listing in Napa Valley Moble Home Park on Pattie Way. I have sold several units in both Newell and Salvador parks. I cannot tell you what the value is without more information but would be happy to meet with you and do a market analysis on the property. How soon do you want to sell and/or put it on the market? It sounds like you are in a great location within the park. ... more
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Thu Oct 8, 2009
Dallas Texas answered:
You need confer with an attorney no one can render an opinion unless will is reviewed. Prayers for you and your family

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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0 votes 8 answers Share Flag
Mon Jan 5, 2009
David Johnson answered:
You should disclose what the issue was and how the neighbors and HOA responded. You don't have to say that you considered litigation as a remedy.
1 vote 1 answer Share Flag
Fri Aug 1, 2008
Sylvia Barry, MAS,CIPS,SRES answered:
Hi Elizabeth:

Napa, being the wine country, is a very desirable area in the Bay Area and as I always say, Real Estate are local. Certain areas have gone down in price but others have not.

If the price in a certain area has not gone down much, there is less chance of REOs and Short Sales, which also helps to hold the market value (kind of chicken and egg; one brings the other down and vice versa). So, when the market value stays up, there is less short sale/REO, when the market goes down, short sale/REO tend to happen more. .

Even if there are short sales and REOs, for the sellers who do not have to sell, they will not lower their price to compete with REOs or Short Sales unless they HAVE TO move. For Napa residents and some Marin residents, we all know no matter how the market goes down, it will come back up, so sellers are not willing to sell for less unless they have to.

I don't have NAPA stats handy, but I want to show you the stats for the first half of 2008 in Marin and you can see what I mean. If you want one, I can create one for you also.

As you can see, through Units (number of homes) sold went down dramatically, the prices held or increased in the more desirable area, especially the more high end area (the starter homes are where you have more 100% financing with adjustable rates, which are more prone to interest rate adjustment and falling behind on payment).

If you want stats for the NAPA area, I will be very happy to produce one for you. Just let me know.

... more
0 votes 10 answers Share Flag
Thu Jul 17, 2008
Phil K answered:
How about posting a leading question disguised as a legitimate inquiry?
0 votes 3 answers Share Flag
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