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Home Buying in Oakland : Real Estate Advice

  • All875
  • Local Info78
  • Home Buying344
  • Home Selling53
  • Market Conditions32

Activity 513
Sat Jul 8, 2017
Paul Collins answered:
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0 votes 51 answers Share Flag
Sat Jul 1, 2017
Rich Reed answered:
Hi Zersis Birdie,

Are you working with an agent? Doesn't your agent know?

CAR form NSP by default allows the seller two full days to perform. The day it is personally received is day zero. The next day thereafter is day one. The last day cannot be a Saturday, Sunday or Holiday. If so, the seller will have the next business day to perform. It is only then, the next day after the seller’s last day, that the buyer may sign and issue a cancellation using form CC.

You are advised to consult with your agent, your broker, and your attorney!

It is very important to properly terminate a purchase agreement! Deposit disputes are far too common.

Hope this is helpful!
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0 votes 1 answer Share Flag
Tue May 30, 2017
Caria4077 asked:
Tue May 30, 2017
Nas Ali answered:
If your lender or bank is requested the apprisal, this is to confirm your loan amount does not exceed the current market value of the home your purchasing.
The shortsale process has its own apprisal process.
It is very important to work with a Certified shortsale negotiator and experienced agent to represent you. Shortsales can be a time consuming process and you could end up not closing, after months of efforts put in.
Think positive and keep following up.

Good luck.
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0 votes 12 answers Share Flag
Mon Apr 24, 2017
Ebosales2 answered:
We have more than average credit I guess (691/744/706) scores. We want to go conventional loan but we can't seem to save money right now. We probably have about 2k saved but since I get paid once a month our savings starts to get pinched. Should we just go FHA because we don't have 10-20% down? We want to buy a 120k-150k house. Also can't forget about the closing cost. Its a sellers market right now and its tough. Any suggestions? ... more
0 votes 8 answers Share Flag
Tue Mar 28, 2017
Dfergusn1957 answered:
I am trying to buy a house and found out the land has a lien on it. The Seller quickly sold a portion of the land that was in question not the house. The title co was still investigating it. Now he want to sell us the house, that is clear of liens. And still ask a rediculous price for it. We have already paid out of pocket over $1800 for survey, apprasail, inspections. ... more
0 votes 9 answers Share Flag
Fri Mar 17, 2017
Bscottj.88 asked:
waiting on the letter of reconveyance so I can close. How long does it take? The letter's coming from Wells Fargo. My rate lock ends in a week.
0 votes 0 Answers Share Flag
Fri Feb 17, 2017
Donald D. Hensel answered:
Hard money lenders will consider funding a loan without proof of income on an investment property if the borrower has a significant down payment and other assets. ... more
2 votes 4 answers Share Flag
Fri Feb 17, 2017
Donald D. Hensel answered:
They require all cash at the courthouse steps. Some auctions do allow for financing, especially hard money financing as these types of loans can fund much faster than traditional loans.
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2 votes 15 answers Share Flag
Sat Feb 4, 2017
Shonica Jaques answered:
Hey there! If you need help finding the RIGHT place, your best bet is to work with a real estate agent who knows the area. If you would like, I am part of a real estate company that can set you up with a top agent in the area you are looking, there is no cost to you for our service. Go to my website for more details. Let me know if you have any questions. ... more
0 votes 1 answer Share Flag
Fri Feb 3, 2017
Gardner.max asked:
I am particularly interested in homes with detached "in-law" units. I see that under "Public Records" there is usually an entry that says something like "1 Building",…
0 votes 0 Answers Share Flag
Sun Nov 27, 2016
Broadway_93 answered:
A mobile home is not really mobile. It is a manufactured house that is placed on a piece of land in a mobile park - they are all lined up next to each other. Each house actually sits on jacks about 2 feet above the ground. Once the house is in place, it stays there. The majority do not have a garage. You get a carport. Some people install a shed for storage. Some have a little yard or porch, others do not.

In most parks, you buy the home and then pay a monthly space rental. Some real estate ads mention the space rental, others do not. You own the home but not the land (usually). You also pay an annual property tax, although that is typically much less than a “real” house. Maintenance on a mobile home is about the same as a real house.

Some parks are really nice. They have rules about maintaining your exterior and your space so everything looks clean and neat. There are common areas that can be great - club house with activities, pool, nice landscaping, etc. Some parks do not have any amenities or are rundown.

You also have to apply and be approved to become a park resident.

Some parks are all-age, some are for seniors 55 and older. And there are a very few parks where you do own the land - they cost almost as much as a regular house.

Look at the age of the home: many are still from the 1960s or ‘70s. The newer homes are now very well insulated and as you walk across the floors, they don’t sound hollow. There are sometimes agents or companies that specialize in buying old clunker homes and replacing them with a brand new one.

There are pros and cons to owning a mobile home. It depends on you personally, your finances and goals, your market and location, and the desirability of the park itself. It can be a great option as one approaches retirement. It can sometimes be better to own a cheap mobile home for a few years rather than renting a “real” dwelling - at least you have something to sell afterwards. It can make a great weekend or second home.

We recently turned 55 and bought a brand new mobile home in a Class A senior park in Sonoma County, California. It cost us $157K for a double-wide and we pay $750/month space rental. We own it outright, so our entire housing costs are $10,000 per year. There is an extreme shortage of affordable housing in northern CA. Now we have an affordable way to live in beautiful wine country and afford retirement. By comparison, renting a small not-so-great house in our area starts at $2,500/month, buying would start at $500,000 with property taxes at $6,500/yr.

In CA, I’ve noticed that newer mobile homes built after 2000 sell immediately for very high over the asking price. People are selling their old condos for $1M and buying newer mobile homes for $200-300K. There are BMWs and Lexuses in many carports. But older mobile homes do not sell easily.

I think selling a mobile home is harder in most markets. It’s not on people’s radar. There is an old perception of “trailer trash”. There are park rules to follow. You live very close to your neighbors. You don’t have a garage or much of a yard. But under the right circumstances, it can make good financial sense for many people.
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0 votes 17 answers Share Flag
Tue Sep 13, 2016
Grkoww answered:
Just stopped by the house of neighbor who accepted FHA seller. Based on the information she provided I will NEVER consider FHA buyer when my house is sold. This house is in average condition for the age (15 years) and there is NO way I'm going to tolerate FHA inspector telling me the AC, hot water heater or roof needs replaced - without corresponding increase in selling price. I'm not putting on a 25 year, $7,000 roof for the benefit of the next buyer !! Yes, the neighbor was told the shingles have to be replaced !! She was also informed her AC wasn't up to snuff. Seems like the FHA police came on an extremely hot day and did not notice 20 degree drop in temp. My drop is about 14 degrees. OK, maybe I'll get around to recharging it someday. If the next owner wants 20 degree drop then they can have it charged. ... more
0 votes 7 answers Share Flag
Fri Sep 2, 2016
UpNest Top Realtors answered:
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 ( 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! ... more
1 vote 2 answers Share Flag
Tue Aug 30, 2016
Unspecified answered:
According to Data from Inzopa, condos in Oakland were bought with as little as 2% down payment.

If you are a veteran, you can put down as little as 0%.

You can see the data for yourself here:

All the best!
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0 votes 5 answers Share Flag
Fri Aug 26, 2016
Angelica P answered:

We didn't get enough information about your problem to resolve the issue. Please provide us with complete property address and we will be happy to assist you.

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
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0 votes 1 answer Share Flag
Mon Jul 25, 2016
Susanifisher asked:
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