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Home Selling in 93390 : Real Estate Advice

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Activity 13
Mon Apr 25, 2016
Ron Thomas answered:
It is called an "Arm's Length" sale;
They will not allow certain people to profit from the Shortsale.
I think you will get the same answer everywhere.
0 votes 2 answers Share Flag
Mon Feb 9, 2015
Mack McCoy answered:
Well, I hate to say it, but you're not going to.

The problem is that they're not just buying 50% of an investment, they're becoming equal partners with your brother, who is a stranger. Plus, they'd have to come in with cash or an unsecured note - your brother probably doesn't want a stranger to mortgage the property as a means of buying you out.

You are better off working something out with the brother - hiring a property manager, selling him your share on a note, something, anything other than wait for the needle to show up in the haystack with a light shining on it and a little bell signaling its presence.

All the best,
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Wed Feb 15, 2012
Dee Oliver answered:
I need to speak with you to obtain additional information on your mobile home and meet with you so I can see it to establish market value and get the necessary papers signed. We can have it on the market right away once this is done.. Please call me. I can meet with you today or tomorrow at your convenience. Dee Oliver RE/MAX Magic 661-747-7743 ... more
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Sat Jan 28, 2012
Centermac Realty answered:
That's highly unusual.

If the property is your principal residence, the loan amount is less than $729,000, and the loan was originated prior to January 2009, and you can demonstrate hardship, that's pretty much all you need to satisfy.

This is the first I've heard that someone was denied HAFA due to unfavorable credit report. I'm not aware that the short sale lender would even look at your credit report. If they are going to, it is not to find out if you qualify for a loan.

I really can't think of anything. The only thing that might remotely be an issue is if your credit score is say 800 and you are trying to explain them you have actual hardship. Still, that is unusual.
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Sun Sep 9, 2012
NonRealtor answered:
In my opinion, it will not be better in 2 years. Maybe just keep the house, in another 10 years you'll own it, no more mortgage payments, right? Good Luck
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Wed Feb 15, 2012
Dan Chase answered:
2036 might be a good year. You bought at a higher priced time. Ir will either be a long time or a lot of fast inflation before you can break even sorry to say.
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Sat Sep 3, 2011
Steven Ornellas answered:
Hi Jim,

In a Short Sale the Lender(s) require an "arms-length" transaction. The property may not be sold to anyone the seller has a close personal or business relationship with including family, friends, or in some cases, even neighbors. The Seller normally signs a paper that confirms this is not the case.

As a side note, if you are considering a Loan Modification and are wondering if it’s worth the time to explore your options there is one data point you might reference: Page 2 of this document shows which lenders/servicers have the best “loan mod conversion” rates. I do want to caution you that Loan Mod Approvals are becomming more common.

If you are looking for details of what is required in order to have a loan modification granted see:
Since there are still a number of shady companies offering LM services, I have included a link to HUD-approved counseling agencies at the top of the page.

Best, Steve
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Mon Aug 17, 2009
Jesse Sierra answered:
Did you purchase your home with your V.A?
Are you short selling your home?

Talk to a lender and see what options you have.

Jes Sierra, B.Sc., Realtor®
0 votes 1 answer Share Flag
Thu Aug 13, 2009
Robert and Dawn Morris answered:
Since your Bakersfield home is worth less than what you owe, you would most likely end up selling it as a short sale. To do so, you would have to prove a hardship and this would also affect you credit rating for some time - we wouldn't recommend doing this unless it was absolutely necessary.

If you are comfortable taking care of the payment in excess of what you collect in rent, you may want to just hold on to your home until the market turns around, otherwise it may be a good time to contact your bank to see what your options are.
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Thu Jul 5, 2012
Joan Braunschweiger answered:
Keep in mind that a commission is always negotiable but yes 6% is a common percentage. It is split between the buyer's agent and the listing agent and each of them have to split with their brokers. ... more
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Wed Dec 16, 2009
Lorena Solis answered:
Hi "Ima!"
Just to give you an idea of home prices, the average CURRENT list price in the Silvercreek area is around $150,000. The average SOLD price in the last 3 months is $150,000. This is with 3 bedrooms/2 baths and square footage between 1450 to 1766. It's quite dramatic from what Silvercreek was once worth! Renting or selling depends on your personal situation. You could probably rent the property for a lot more than $600, but are you prepared to deal with renters and everything that comes along with it? Most renters can be great, you just have to screen them upfront, etc.! Hope this helps! Good luck!
Thank you,
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Tue Apr 29, 2008
Sarah Franco answered:

It really depends on what you want. Would you like to see money from the sale of your home in the future? If so, ride out the market and then sale. Or if you feel the neighborhood that your home is in may decline in the future, maybe you should consider selling now and wash your hands of it. If you truly need funds now for the move, then go for it, try selling now. I see many people taking advantage of the decline in home prices for investment purposes or first time home buyers. If you also need help with relocation assistance, my company has a relocation department.
Hope this info can give you a little insight on your delimma.
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Mon Dec 21, 2009
Nancy Statler answered:
all kern appraisal. Ask for Jenny 661-496-7269
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