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Home Buying in Sylmar : Real Estate Advice

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  • Local Info6
  • Home Buying27
  • Home Selling1
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Activity 23
Wed Jun 21, 2017
Rich Reed answered:
Your agent should know how to handle this! If your agent is unsure, talk to your Broker ASAP! If CAR forms were used and the walk-through was documented on form VP, read it. It says in part "The purpose of this inspection is to satisfy Buyer regarding the condition of the Property. Buyer and Seller understand and agree that unless otherwise agreed in the prior contractual agreement between Buyer and Seller: (i) a final inspection is not a contingency of the purchase and sale, and (ii) the inspection or waiver is not intended in any way to alter the contractual obligations of Seller regarding the condition of Property to be delivered to Buyer at possession date."
CAR also provides a sample letter entitled "DEMAND SELLER PERFORM BEFORE CLOSE WITH RESERVATION." Ask your agent if this may be appropriate for your situation.
Talk to your agent. Talk to your broker. Talk to your attorney.
I am a real estate broker qualified to advise you on California real estate matters, not the law. If you desire legal advice, consult with an attorney.
Time is of the essence!
Hope this helps!
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Thu Jun 2, 2016
answered:
You will have to document the new income. It has to be expected to continue for 3 years.
We can use social security income, disability, retirement income.

If you do not have any income, maybe a reverse mortgage will be needed.

If you want to discuss the options, please call me at 714-968-2500

No cost no obligation, I will not run your credit unless you want me to.

CA License number 01080071 NMLS 287206 Equal Housing Lender
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0 votes 2 answers Share Flag
Sat May 16, 2015
Sean Seckar answered:
Linda

It all depends on where you are starting from. Here is a link to Google maps that may be of assistance.

https://www.google.com/maps/place/Sylmar,+Los+Angeles,+CA/@34.3082762,-118.4407082,2184m/data=!3m1!1e3!4m2!3m1!1s0x80c29026344dd955:0x36782c46851160a6!6m1!1e1

Sean Seckar – Realtor
RE/MAX of Santa Clarita
661-644-2945
www.SeanSeckar.com
www.TheSCVShortSaleSpecialist.com
BRE License # 1336429
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Fri Apr 24, 2015
answered:
It depends on how much down payment you have.

If you call me I can give you an exact number, no charge, no obligation.

714-968-2500
0 votes 4 answers Share Flag
Tue Jun 18, 2013
Andrew Wilkinson answered:
Hi there,

This home’s listing agent can tell you more about this place than I can (and probably will know a lot about similar properties in the area). You can email the agent from listing page using the orange “Contact Agent” button to the right of the home photos.

Or, you can look for other local agents on Trulia here: http://www.trulia.com/voices/directory/

Please let me know if you have any questions or if I can help with anything else. I am happy to be a resource for you.

Good luck with your search!

Andrew
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Wed Apr 3, 2013
James Sanchez answered:
Seeing how a comp sold for 280 in 2012. In todays market you will be at least $330k. Do keep in mind a buyer will determine how much the property is worth to them. You could get higher or lower but 330 would be a good place to start. Also if the HOA's are FHA approved, this will get you top dollar too.

Look at my reviews on Trulia or on Zillow. If I can help further let me know.

James
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Sun Jan 13, 2013
Shane Milne answered:
When you default on an FHA mortgage and are applying for a new FHA mortgage the 3-year waiting period begins when FHA pays the initial claim to the lender.. which is not always the same day that the lender forecloses on the home that had FHA financing.

In your situation, the loan officer would need to run CAIVRS (Credit Alert Interactive Voice Response System) which is an online system that checks if people have delinquent or defaulted Federal debt and can check when the insurance claim being paid has occurred.

I've run into this situation a few times, where the homeowner had a foreclosure on a home which had an FHA mortgage on it but FHA didn't pay the claim until afterwards, and so we've had to wait longer than 3 years after the foreclosure.

Depending on when in 2009 it was foreclosed upon, you may have already passed the 3-year waiting period from when FHA paid the initial claim. If I was you and looking for an FHA mortgage, I'd demand that CAIVRS be checked as part of your pre-approval.

Shane Milne | Lending in all 50 states | NMLS #81195
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Wed Nov 14, 2012
Johnny James answered:
Are you in the market for a manufactured home?
0 votes 2 answers Share Flag
Wed Nov 14, 2012
Johnny James answered:
Wed Nov 14, 2012
Johnny James answered:
Check your area of the valley for First Time Home Buyers Class sponsered by the city and or county so you can become educated in the process.
0 votes 13 answers Share Flag
Thu Sep 16, 2010
Robert Spinosa answered:
Mark Hanf at Pacific Private Money: mark@pacificprivatemoney.com or 800-605-8050.

Good luck,

Rob Spinosa
rspinosa@rpm-mtg.com
1 vote 1 answer Share Flag
Sun Sep 13, 2009
Richard Perry answered:
The HOA fees for Mountain Glen II are $146 plus water and sewer. The average monthly fee for all three is between $220-$250. The is NO Mello-Roos on the property.
0 votes 3 answers Share Flag
Fri Jun 26, 2009
Keith Sorem answered:
Most investors who rent homes are very frugal, so they use cost-effective marketing, such as craigslist. Google "homes for rent, sylmar" and see if that helps.

On some occasions Realtors do handle leases, talk with a Realtor who works in that area. ... more
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Fri Mar 6, 2009
Yona Bello answered:
Hi Cindy - This is legal and customary for the bank to see as many offers as possible & the bank chooses which one is best for them based on price, terms, conditions, financial strength of buyer etc..

Did you submit supportive documents with your offer, i.e. a strong pre-approval letter from a known lender, verification of your deposit, down payment and closting costs?

The bank may send counter offers to all the bidders at a higher number that any of them initially offered in an attempt to get what is called the 'highest and best offer."

Don't be discouraged, keep looking and place several offers on foreclosure properties that you like, this way you are not wasting time in a waiting mode and eventually one will be accepted and you'll be a happy homeowner.

Hope this helps.
Warm Regards,
Yona Bello
818-755-5556
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Fri Aug 29, 2008
Keith Sorem answered:
That phrase "land value" is a descriptive term, not a legal term. As long as there is a dwelling on the property and the Dept. of Building and Safety has not revoked the occupancy permit, you can probably get a loan for residential property.

If the house was not on the property, and it was in fact a vacant lot, financing would be much more difficult. As it is, there are a number of financing options, including an FHA loan that can include funds (201K, I think is the number) for rehabbing a property that you buy.

"Land value" does mean that from the marketing standpoint the seller is pricing the property based on the value of the land and not allocating any value for the building.
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Thu Aug 28, 2008
Yona Bello answered:
Hi Linda,

The banks are swamped with short sale files on their desk and they are under staffed. Ask your agent to call every day or at least send an email -try to find out if there is anything missing from the file that you can provide to expedite.

Good Luck!
Yona Bello
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0 votes 5 answers Share Flag
Tue Aug 26, 2008
Joel Javan answered:
Hi Craig,
The first step in buying a house really is getting pre-approved by a lender. Any Realtor who knows what they're doing would tell you this. However, as far as you're concerned, I would say contact a Realtor who specializes in your area first and here's why: most Realtors work with a team of people needed to complete a transaction which includes, a title rep, escrow officer, lender, home insurance agent, appraiser, etcetera - and they should. It just makes sense that Realtors would choose only those they trust and who they know will deliver their part in the process.

So interview at least 2 or 3 Realtors and work with the one you're most comfortable with and know that when you hire this person, he or she will get his or her entire team working to get you what you want. He or she should direct you towards getting pre-approved first and you can rest assured that you will be referred to a loan consultant who your "Realtor of choice" trusts.
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Sat Jun 21, 2008
Ute Ferdig answered:
Hello Lisa. Below is the link to the page that contains the Cal Vet loan requirements. You'll find information about lending requirements for mobile/manufactured homes on page 6 (## 17 & 18) of the document). I hope this helps. Good luck to you. ... more
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Tue Jun 17, 2008
Dot Chance answered:
Hi, Noelle. Definitely consult with a CPA and/or tax attorney. You would definitely want to be sure that it is deductible before you use it as a deduction. If you do not know a CPA I will be happy to get a name and number for you to call.

All my best,
Dot Chance
Keller WIlliams Realty Studio City
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Sun May 18, 2008
Karen Miller answered:
Hi Kay,

Yes it does. The bank will only write a loan for less than 5 years of the lease. For example, if there is a 30 year landlease, the longest loan a bank will approve is 25 years.

I would love to hear, why do you want to buy property on a landlease?

Karen Miller
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