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Home Selling in Torrance : Real Estate Advice

  • All232
  • Local Info9
  • Home Buying72
  • Home Selling6
  • Market Conditions3

Activity 10
Ralph, Real Estate Pro in Torrance, CA
Thu Sep 29, 2016
Ralph asked:
My listing on 4609 W Carson, Torrance CA 90503 has the wrong listing agent and phone number. Please contact me ASAP. ralph@strandhillproperties.com
0 votes 0 Answers Share Flag
Michael Magaw, Real Estate Pro in Torrance, CA
Tue Mar 17, 2015
Michael Magaw answered:
If you are a broker and property manager, then you should know that commission rates are negotiable. And commissions vary for property management, sales, rentals, etc.
0 votes 3 answers Share Flag
Ruben Magana, Real Estate Pro in Torrance, CA
Fri Jan 10, 2014
Ruben Magana answered:
If the 20k You are paying to the 2nd is in writing (as an approved short sale letter) .The 2nd will now go after your credit .
0 votes 6 answers Share Flag
Dorene Slavi…, Real Estate Pro in Torrance, CA
Tue Dec 10, 2013
Dorene Slavitz answered:
There are "contingencies' to look at in a Real Estate Transaction.
There is a financing contingency(appraisal and loan), and an inspection contingency(which includes pest inspections).
A buyer has many protections in the California Purchase Agreement and must release the contingencies.
Up until all contingencies are released, the buyer can cancel and have their Deposit returned to them.

After a buyer has removed all the contingencies( in writing) in the contract, the buyer is then obligated to move forward with the purchase. If they cancel the contract, (after signing a release of contingencies), the seller has the right to the buyer's good faith deposit , Being aware of a situation is not the same as releasing contingencies.
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0 votes 8 answers Share Flag
Yvonne Zoon, Real Estate Pro in Hermosa Beach, CA
Sat Mar 17, 2012
Yvonne Zoon answered:
For most families the schools are the most important. I am located in West Torrance were homes go very quickly. It is close to the beach and convenient to shopping and freeway. There are a lot of original home owners that have been there from the start when the homes were built around 1955. Small town feel, very safe people do not want to move. The average price is between $ 500,000-650,000. West High is one of the most desirable High schools in the area with a 2005 Distinguished school award. Bert Lynn middle school has a great music program and was blue ribbon school in 2006 and a California Distinguished school. If you like any information please contact me.

Yvonne Zoon Realtor
Shorewood Realtors
Direct: 310-503-9666
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0 votes 7 answers Share Flag
Eric Baskett, Real Estate Pro in Torrance, CA
Tue Nov 15, 2011
Eric Baskett answered:
If you included the house in the bankruptcy that should wipe out the tax as well, you should talk to your attorney about that. The only reason to do a short sale after bankruptcy is to stay in the property longer after the discharge. ... more
0 votes 5 answers Share Flag
allan erps,A…, Real Estate Pro in Pearl River, NY
Wed Feb 2, 2011
allan erps,ABR,SFR answered:
Hello, Mr. Tate as you can see there are many capable Realtors out there. As was said, Commissions are negotiable and should not be discussed as per our licenses in Publeic Forum. Interview as many Agents as you wish and wish you the best! ... more
0 votes 19 answers Share Flag
Jane Grant, Real Estate Pro in Aguanga, CA
Tue Dec 1, 2009
Jane Grant answered:
The problem is that the perspective buyer's lender wants to make sure there is an HOA in place. Lenders want dwellings with "common areas", to have an HOA in place to determine the responsibility of the "common areas".

This is due to the fact that if one of the parties is neglectful of their property or does something harmful to the "Common area", the HOA rules will spell out how it is handled.

Especially if it is an FHA loan that the perspective buyer is obtaining, because FHA insures loans and they have to make sure the property will be taken care of to keep the value stable.
... more
0 votes 4 answers Share Flag
Erin Brengle,  in 90277
Tue Aug 18, 2009
Erin Brengle answered:
Art:
The most important steps you need to take right now is knowing what your lender will do should you rent the home. The consequences of your Torrance home no longer being your primary residence can have a large effect on your loan should you find yourself in a financial short fall later.
Your renters are not guaranteed. Can you handle both house payments should the renters vacate before the end of their lease or just stop paying.
Your exposure with the lender will be different than when the Torrance home was your primary residence. You may have limitations on refinancing and an approval on a short sale should you have to go that route. Most would recommend you be patient, sell your Torrance home and then purchase in your new location, and I agree.

Have you considered going to home swapping sites to see if that would be an alternative for you? I believe in this current environment we need to think outside of the box and find ways to help our clients accomplish their goals.

Erin Brengle
310 850 8989
CallErin.com
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0 votes 7 answers Share Flag
Shel-lee Dav…, Real Estate Pro in Rolling Hills Estates,...
Sat Sep 6, 2008
Shel-lee Davis answered:
Dee:

I wholly concur with the first two answers. This is a question for your tax professional.

I am and have been an owner of rental property for many years. Here are a couple of other things to think about:
1. In some states, you are required to pay income tax on the gross rents received. .
2. In some counties (I have a property in Arizona in one such county) you are required to pay something like a sales tax on the gross rents received.
3. The tax ramifications of holding rental property are different if you hold it in your name or if you hold it in some entity (like an LLC, which is becoming very popular with investors).

Make sure you work with a tax professional who knows the laws in the states where you plan to own rental property. Also, make sure you work with a tax professional who can advise you on the pros and cons of the various ways to take title to rental property. It is always best to work from an informed position, rather than having to undo mistakes later, which could be costly.

If I can be of further assistance, in either referring a local tax professional for you to consult with, or in helping you find rental properties in the South Bay and surrounding areas, please feel free to contact me through my profile. Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
... more
0 votes 3 answers Share Flag
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