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North Fork : Real Estate Advice

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  • Home Buying2
  • Home Selling0
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Activity 4
Sun Aug 17, 2014
Sharron Draper answered:
Most properties have wells, some have good water all year round and some run dry. This property has a great well that can, does, and has supported 2 separate homes and a bunch of horses for the last 20 years with no problems. The water is sweet and plenty full. ... more
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Wed Nov 20, 2013
Lars Estrem answered:
http://firedepartment.net/directory/california/madera-county

Here is a map of all the Madera County Fire Departments. I recommend you find the closest fire department and call them. Sometimes they don't list all the fire stations that belong to a fire department. If you call them, you can ask them if they have a closer station. ... more
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Mon Nov 1, 2010
Marc Yu answered:
Hey B_f,

Everyone's answers hit it right on the nose. Typically, a Short Sale is the way to go versus a foreclosure, especially if they live in the home as their primary residence due to tax incentives. Unfortunately, you will get home owners that end up backing out of the short sale when it's about to close escrow. Usually this happens when they have a change of heart. Some attorneys will recommend the homeowners to file for bankruptcy and then they're convinced that it's a better way to go. Not saying all attorneys gives bad advice but I just recently dealt with the same incident.

For example, a client (Short Sale Seller) decides to put their home for a Short Sale. I find an able and willing buyer and have "a meeting of the minds" to agree to a contract. Keep in mind that a Short Sale is treated as a regular sale with the exception of the sale is contingent upon the lenders approval. Thus the seller will still have to agree to the sale and have the right to refuse any offer. BUT..., if a purchase agreement was signed by both the buyers and sellers to complete the short sale, both parties are bound by the contract. The contract is only voidable or unenforceable if the lender disapproves the short sale, or contingencies were not removed. If the lender approves the short sale, there s really no more backing out.

The contract is pretty explicit to when the sellers should hand the keys over to the new homeowners. It's typically, possession at the close of escrow. I would carefully review your contract with your agent. If they still haven't moved out, than you will need to hire an eviction company and evict them out. Worse case scenario, you might need the help of a law enforcement officer evict them because they are officially trespassing through squatting.. The safest bet is to speak with the previouse homeowners and come to an agreement.


Hope this helps!

Regards,

Marc Yu
Broker/Owner
Jonah Marc Properties
(415) 205-0255
myu@jonahmarc.com
... more
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Sun Jul 19, 2009
Tammy Davis answered:
You do need to review your contract to see if there are provisions for seller occupancy after close of escrow. If it does not, and you are agreeable to the sellers remaining after close of escrow...your agent or attorney should draft a rent back agreement which is very specific and holds the sellrs responsible for rent and possible damages.
It would also be advisable to collect a security deposit from the sellers that you can return once the house is left in the same condition it was during the final walk thru. Even though the sellers are not making any money thru the sale....it is not unreasonable to insist for a deposit.
Good luck...and make the decision only on the advice of the experts!!
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