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92804 : Real Estate Advice

  • All18
  • Local Info1
  • Home Buying10
  • Home Selling5
  • Market Conditions0

Activity 191
Fri Jul 30, 2010
Jane Grant answered:
The best thing to do is to contact the local police station in Anaheim: http://www.anaheim.net/sectionnew.asp?id=124

Another site to go to is www.city-data.com This site has a Q and A Section that can be answered by residents living nearby!

__________________________
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0 votes 3 answers Share Flag
Fri Jul 16, 2010
Pacita Dimacali answered:
The short sale timeline depends on who the lender is, how many loans on the property, how aggressively priced is the property and what its condition is, how responsive both the buyers/sellers/agents are to requests for documentation.

If the short sale is Wachovia, everyone rejoices because they process short sales almost like regular sales and they give rapid responses.

Not so with other banks. According to Wells Fargo's short sale guide, it could take around 70 days from the time the short sale package is submitted before the short sales are approved. Don't believe it. It could be 90 days or longer.

Bank of America and Chase are notorious. It's not unusual to wait 5-6 months for a resolution.

As for damage....what kind of damage? And who is going to fix it? If you're planning to get an FHA loan, be aware that the FHA guidelines are verty strict. Safety and hazard issues are primary concerns: holes in the walls, ceilings, floors. Must have working heater..

Basic needs: a kitchen must have a working stove for it to be considered functional.

What you need to know: there are no guarantees to short sales.
What you should be preapared to do: WAIT
What you should do: get an experienced short sale realtor to help you.

Good luck.
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0 votes 6 answers Share Flag
Tue Jan 18, 2011
Dp2 answered:
I suspect you meant to inquire about loan-mod/refi brokers, because the seller for a short-sale wouldn't need to refinance. Although I'm not sure whether you'll find any brokers who do this, I know of several investors (myself included) who do this.

Also keep in mind that this isn't the only way for your friend to handle his/her transaction. There are other ways to structure this deal. However, one would have to know more to be able to advise him/her further.

Please feel free to drop me a line.
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0 votes 4 answers Share Flag
Wed Jul 14, 2010
Bob Phillips answered:
This sounds like a definite SCAM.

There are a LOT of scam artists out there right now, preying on people who might be behind in their mortgages.
0 votes 10 answers Share Flag
Mon Aug 2, 2010
Walter 'Skip' Kersten answered:
Hi Elaina,
It is not the norm but it is not uncommon either. I am personally against asking the buyer to pay someone that is not representing them but rather the seller.
Good luck, ... more
0 votes 5 answers Share Flag
Tue Jun 29, 2010
Bill Eckler answered:
Mei,

Request an explanation of this fee. It sounds as if they may have employed a third party to negotiate their way through the short sale process with the bank. This is commonly done with legal firms that specialize in these types of transactions.

One would believe that this is something that you should have been made aware of early in in this process and at the very least, it should be a shared expense.

Tell them you are considering exploring other options and see if this tact brings them to their senses.

Good luck,

Bill
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0 votes 13 answers Share Flag
Wed Nov 13, 2013
Anna M Brocco answered:
If you are referring to a specific property any local agent can answer your question, contact any realty office(s) and inquire, or check out the local tax assessment department--keep in mind that taxes will vary depending on location, property size, schools, property upgrades, local amenities, etc. ... more
0 votes 5 answers Share Flag
Fri Jun 25, 2010
Walter 'Skip' Kersten answered:
Hi Sheri,
A good average to use to estimate the annual property taxes is 1.25% of the purchase price. In newer developments there might also be Mello-Roos which will increase the amount paid. These amounts differ by development.
Hope that helps.
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0 votes 1 answer Share Flag
Tue Jun 22, 2010
Don Tepper answered:
It depends on what fees your state and county assess. Often, there's a transfer tax (it's called different things in different places) that often runs around 1% of the purchase price--so a purchase price of $100,000 could result in a transfer tax of $1,000. Again, though, this varies depending on your location--it could be more or less.

Other than that, there may be some minor charges.

Don't forget, though, that if financing is involved, there will be whatever charges a lender charges.

Beyond that, since you've already worked out many of the details, no Realtor is needed. However, you really do need a lawyer to do the paperwork. Get quotes from several different real estate lawyers. I don't know what one might charge, but it'd probably be in the range of several thousand dollars if it's a nice, simple transfer.

So, start off by contacting a real estate lawyer. He or she can tell you what his/her charges will be, as well as whatever other charges your state, city, and/or county apply.

Hope that helps.
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Fri May 14, 2010
Anna M Brocco answered:
Since opinions are often suggestive, and what may be a lot of traffic/noise to some, may not be to another, consider visiting the area, more than once and at different times of day--look at the traffic patterns, listen for all noise and then make a determination--will your comfort level be reached. ... more
0 votes 3 answers Share Flag
Fri Dec 30, 2011
Christopher Suh answered:
Hello Amua,
Please check your email from chris@esimplerealty.com - may have to check your junk box or spam box. I have a few great investment properties you will not want to miss out. Info sent to your email.

Thank you
Chris
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0 votes 5 answers Share Flag
Thu Apr 15, 2010
Danielle Norris NMLS #221829 answered:
Once you have submitted a complete application the lender must give you an estimate within 3 days. Any time throughout the process that something charges (ie: the rate is locked) then the lender will redisclose a new GFE. ... more
0 votes 4 answers Share Flag
Tue Apr 13, 2010
Glenn Gaspar answered:
Hello Home Buyer,

If your tight on cash, look into possibly using, if you qualify, the .5% down payment program. Here is the link for that program application:

https://9614834498.secure-loancenter.com/WebApp/FullAppLogin.aspx

It basically is an FHA loan program with a piggy back second of 3% and the seller can pay up to 3%, of the sales price, towards your closing cost.

Feel free to ask me
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0 votes 2 answers Share Flag
Mon Apr 12, 2010
Gerard Dunn answered:
How about a Foreclosure clean out company?

Good Luck!

Gerry Dunn
Associate Broker
Serving Maryland, DC and Northern Virginia
0 votes 3 answers Share Flag
Wed Apr 7, 2010
Connie Bramble answered:
Where it always is. With a great Realtor who has their clients best interest first and foremost!
Connie Bramble
Prudential CA Realty
714-337-8718
0 votes 4 answers Share Flag
Thu Apr 8, 2010
Mahesh Patel answered:
If you want a house, there is always a way to get.

Are saying that you have $30,000 down payment, not quit sure?
and that you are qaulified for upto a loan amount of upto $115,000.


Please clarify so we can better answer your inquiry.
Thanks.
Mike
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0 votes 5 answers Share Flag
Sun Mar 14, 2010
Eric Israel answered:
Janet, agents are like any other service industry. Some are good and some are bad. You will have many responses to choose from here including me. People responding back to you here will definitely work better than what you have had. Take a look at my sites here: http://www.laderaranchlife.com or http://www.socaloceanviews.com/ ... more
0 votes 15 answers Share Flag
Sat Feb 20, 2010
Jennifer Ricco answered:
Sun Apr 25, 2010
Todd Foust answered:
Most of us posting here are agents so you may get some stepped on toes with a generalization like this but still I think I get your point.

Here's the deal, its a complicated question, here's some things to consider:

1) Your offer may not be competitive. Could be that price is too low, could be that they want a buyer with larger downpayment, could be they don't like your particular financing or any combination. We just don't know?

Did they actually sign your offer and place it as backup offer or were you just told you were a backup? Makes a huge difference. If they didn't sign it, they have no obligation to come back to you when buyer 1 falls out. Ethically they should but that's debatable since I don't know what your original offer was. Could of been real low.

2) Many of todays REO and corporate owned (or flipper owned as some call it) properties are given to agents in bulk and frankly many don't have the time to get back to anybody. Many times they expect people to get back to them. I agree, its pathetic and not how the business should run but it is what it is.

My recommendation is ALWAYS ALWAYS AlWAYS get your backup offers in WRITTING. You should know exactly what number backup offer you are or else just expect that you have nothing and nobody really does have an obligation to get back to you. Don't rely on ethics because many don't possess them, rely on contracts and paperwork because they have to pay attention to them!
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0 votes 20 answers Share Flag
Tue Jan 19, 2010
Mahesh Patel answered:
Hi 'Madevry' It is very much valuable.
If you sold this home as a home you will get x dollars. If you sold it to the right buyer with an R2 Zone, you wil definately get x+y dollars!

I may already have a buyer for you. I work with this group, that buys these kind of homes/lots and builds the additional unit or tear it down and rebuild brand new house pedning what the city permits what the fire codes are in that immediate area.

If you are willing to sell, please le me know and I can give you a valuation on the R2 house.
Feel freee to contact me for further info.
Mike Patel
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