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Home Buying in 91790 : Real Estate Advice

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  • Local Info0
  • Home Buying7
  • Home Selling4
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Activity 18
Tue Feb 26, 2013
John Arendsen answered:
If you're interested in the San Diego market please contact us.

760 815-6977 onthelevel@cox.net
0 votes 2 answers Share Flag
Mon Apr 20, 2015
Ruth and Perry Mistry answered:
Hi HMC

A furnace can last a long time 25-50 years, so does a roof depending on
type of material used .

Do a roof inspection and figure out the expected life of the roof and call out
a Furnace inspection company.

If the market is rising a seller is unlikely to give you credit or lower the price.
If the market is flat or there are plenty of homes then go ahead.

What does your Realtor advise.

Have you done comparables of similar homes ?

Goodluck
Ruth

http://www.trulia.com/blog/perry_mistry/
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0 votes 9 answers Share Flag
Fri Oct 5, 2012
Shannon Chang answered:
I might have one listing coming up in El Monte 2on 1 I will contact you. I got you email


Shannon Chang
626-319-8545
#01759646
0 votes 5 answers Share Flag
Mon Feb 13, 2012
Harold Sharpe answered:
Angelm626,
Cash to Existing loan terms.
Generally speaking cash is a cash purchase.
Existing loan means take over existing loan, usually with a large down payment and paying the remainder of their loan with their interest rate they had.
Is it possible, that they may sell the property to your FHA loan but keep in mind the property will have to pass an FHA appraisal inspection. Now many think well I will just have the sellers pay for any repairs. Great thought however many sellers don't want to pay for repairs. This means you may not get the property and you will have already paid out around 200 -350 for a home inspection, and another 400- 500 for an appraisal, only to move on to another property. Buying a home is not like buying pretzels in a store and there are many many variables and this is why you should find a local buyers agent to assist you.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
harold@socalhomebuying.org
www.socalhomebuying.org
California Department of Real Estate Broker License # 01312992
... more
0 votes 5 answers Share Flag
Mon Sep 10, 2012
Scott Godzyk answered:
The only way to truely know if you can or can not get a mortgage is to meet with a local and trusted mortgage broker, they can prequailify you at no cost, they will look at your credit plus your financials and let you know if there are any mortgages that you may quailify for.

http://www.trulia.com/blog/scott_godzyk/2010/10/where_do_i_is_start_if_i_want_to_get_a_mortgage

Please see my blog for advice and tips on getting a mortgage
... more
0 votes 6 answers Share Flag
Mon Sep 10, 2012
allan erps,ABR,SFR answered:
In my opinion this is a great time to buy. The main factor is the Interest Rates of a Mortgage presently! Do not know your general area but with the market pretty stabilized here prices are back to 2003-4. I see this as an affordable way and opportunity to purchase Real Estate with alot less risk than previous years. Best of Luck ... more
0 votes 13 answers Share Flag
Thu Mar 24, 2011
Robert Spinosa answered:
Claudia,

I'm not sure there can be any release of information here and regarding the appraisal. Typically your new mortgage company will need a new appraisal due to the Home Valuation Code of Conduct.

Perhaps I am not fully understanding your question, however, so let me know if I can help further.

Thank you,

Rob Spinosa
rspinosa@rpm-mtg.com
... more
0 votes 4 answers Share Flag
Thu Sep 23, 2010
Mary Renfro answered:
Depends on how original contract was written. Did you have inspection provision? Was the contract AS-IS-Where_Is?
0 votes 8 answers Share Flag
Fri Jun 25, 2010
Bill Mota answered:
Buyer can back out - usually up to 3 days AFTER bank provides written approval of short sale - that is when the earnest money deposit is supposed to be in escrow. Until money is exchanged (consideration is given) you do not have a binding contract.

Let me know if you need any help buying another home - I usually recommend buyers stay away from short sales.

Bill Mota
626) 233-0190
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0 votes 2 answers Share Flag
Wed Feb 10, 2010
Kathy Weber answered:
There is definitely a certain progression for forms, but during a Short Sale or bank owned, they come in all different orders.

I would ask your agent to explain the process and forms to you. It's hard to know exactly what you're looking at. ... more
0 votes 7 answers Share Flag
Mon Jan 11, 2010
Monique and Joe Carrabba answered:
Hello Brianca,

You should probably ask your question in that region as this is posting to Los Angeles, CA.

Best,

Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
mcarrabba@kw.com
(323) 899-2900
... more
0 votes 2 answers Share Flag
Mon Dec 14, 2009
Bonnie Scribner answered:
Yes, you certainly can ask your agent to write a cancellation note/withdrawal of offer and send it to the other agent. It's better to back out now while they are in the preliminary stages of short sale approval, because if you backed out later, it would delay them to review another buyer's pack. Have they opened escrow with deposit of your check? That should be returned to you, as well - but that will need to be signed by all parties involved. Your agent should be able to guide you. Short sales are NOT for the faint of heart -- they can take a very short time, or drag on for a year or more. Having two lenders makes it more complicated. Good luck - and make sure you don't go into a deal trying to find a way out. Your agent worked hard to get your offer accepted, and it's not fair to him/her to have them place multiple offers if you are really not serious about the property. There is wording that your agent can put into further contracts that protect you by keeping your deposit check instead of opening escrow, and I suggest that for my buyers trying to buy short sales. ... more
0 votes 8 answers Share Flag
Thu Aug 6, 2009
Chuck Mineo answered:
Hi Wade:

You need to provide a few more facts before anyone can give you a good answer:
1. In your contract, were you paying cash or financing the purchase?

2. Who is the party from whom you would purchase? In other words, who did you contract with? I would assume that the bank is just a third party who has approval over acceptance of the "short sale".

3. If you were financing this purchase, then your contract likely has a financing contingency which would also not likely be met because the property failed to appraise. Is this correct?

4. If the patio was not included in the appraised value and you believe that it has significant value ($60,000?), then it really is not a valid appraisal. Why would it not be corrected to account for the patio?

With respect to time for an answer, it is common that banks take a long time to approve a short sale. In your case, with a flawed appraisal, it could be another reason for the delay or non-response.

You can cancel the escrow depending upon what your contract says. By contract, in what timeframe was the Seller and/or the third party bank required to respond? In most contracts time is of the essence (meaning that you cannot miss a deadline to do particular things - such as respond to an offer).

From the details you have provided, I would presume that your offer is no longer valid given the passage of so much time. And, the Seller and/or Bank has likely failed to create a contract by accepting your offer in a timely matter. But, and this is a big BUT, it depends on what your contract says.

Let me know if I can help more.

Chuck Mineo
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0 votes 3 answers Share Flag
Thu Aug 6, 2009
Aj Zaki answered:
Hi Amanda
It depends on what is in the conrtact ,any cotingenies also look at the dates in the contract
. and of course have a Real estate review your contract..
Good Luck.

A.J.Zaki CRS,GRI
Broker Associate
561-843-7010 Mobile
zakihmes@gmail.com
www.homefindersinflorida.com
... more
0 votes 5 answers Share Flag
Tue Apr 14, 2009
Geremy Yamamoto answered:
It depends how far into escrow you are. You mentioned you are at the early stage. If you are within your appraisal contingency time period, and the appraisal is less then the purchase price, then the bank should renegotiate. You are correct, they may refuse to negotiate and you may walk away if you have not removed your appraisal contingency.
Did you end up putting an offer on the house in South Hills?

Best Regards,
Geremy Yamamoto
Century 21 E-N Realty
626-201-0312
geremyc21@aol.com
... more
0 votes 0 Answers Share Flag
Fri Oct 5, 2012
Julia answered:
If it is for sale, call the listing agent on the sign. They usually know the most about the house. You can also look it up on Realtor.com and look up a Realtor in your area. Call them or email them.
If the house is not listed for sale, you can look the property up in the public tax records online by the county. Find the city online records, then search for the the property appraiser's office and or records and search by street. Don't put the entire street address in or you might not get anything back. Leave out Drive, Circle or Street and look for just the first name of the street. You will get the most returns this way. Once you can see how the street name is loaded into the records you can either look through what you have or do a second more specific search. Good luck!
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0 votes 5 answers Share Flag
Fri Aug 29, 2008
Kerry Harvell answered:
Hi Lori, sorry to hear about your situation.

You were not buying an "REO", you sound like you were in a short sale situation. Let me define the terms for you.

Short sale: Owner is behind on their payments. They are selling the home for less then they owe on their mortgage due to a declining market.

REO: Bank has foreclosed on owner who was not making the payments. Bank now owns the property outright and will usually hire a realtor to market and sell the property.

The truth is, you were never really "in escrow" so to speak. The seller can accept your offer, but it's the bank that really decides what amount the property will sell for. Buyers who attempt to purchase short sales are not in a very good position.

Question, did your agent discuss the differences between REOs and short sales? Perhaps they are not experienced enough to know the difference? You should have waited to have the appraisal done until the bank accepted your offer. Sometimes on a short sale, the owner will have two loans, a first and a second. These type of short sales are hard to close because the second will come back at the end and demand some money. If you won't bump up your offer, they will refuse to sign off on the sale and you are out of luck.

If you are interested in learning about the differences and how to go about buying REOs, contact me and I'll give you some information about workshops where you can ask questions.
... more
0 votes 1 answer Share Flag
Tue Jul 8, 2008
answered:
Feel free to contact me at 626-653-1171. My office is in Covina and would be glad to get you any information you may want in regards to this property. Are you thinking of buying this home for investment purposes or for you to live in? ... more
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