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Home Buying in 94124 : Real Estate Advice

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  • Local Info0
  • Home Buying8
  • Home Selling0
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Activity 974
Thu May 11, 2017
Dennis Eison answered:
Good evening coffeeshop,

It is normal practice that the commission is negotiated and agreed upon and ratified as part of the listing brokers listing agreement between the seller and the broker representing the seller. It is widely understood that commissions are not fixed by law but are set by each broker individually and negotiated between brokers. This is usually performed in the onset of the contract signings and accepted as such at that time. So "normally" our commissions are set at 6% with a 50/50 split to cooperating brokerages or 3% for residential transactions. As professionals, we are relied upon to offer wise opinions and fact based responses to practical circumstances as part of our due diligence in serving our fiduciaries. Stay strong and good luck in your closing! ... more
0 votes 24 answers Share Flag
Wed Oct 3, 2012
Oggi Kashi answered:
If permits were pulled but never closed or modifications where made without permits, then you might inherit potential problems and/or safety issues. You may also have problems when it's your turn to sell the property. The seller may pick up liability as well. The 3R is a built-in item in the SF purchase contract (item 16A):

"16.COMPLIANCE WITH LOCAL, STATE AND FEDERAL LAWS. Buyer is advised to consult with appropriate authorities to determine the extent to which local, State and federal laws may affect the ownership and use of the Property.

A. BUILDING PERMIT HISTORY. (Applies if the Property contains one or more residential units.) Seller, at Seller's expense, shall order, no later than three (3) days after Acceptance, from the appropriate local governmental agency a Report of Residential Building Record ("3R") or similar report and provide same to Buyer. If Buyer does not deliver to Seller, within five (5) or ___days after receipt of the report, written notice approving it, either party may thereafter terminate this Contract. Brokers do not investigate or guarantee the accuracy of the information contained in such report. Buyer is strongly advised to investigate to Buyer's own satisfaction the status of zoning, permits or code compliance with the local planning department and not rely solely on the 3R or similar report that the Property meets Buyer's intended use."

Are there job cards and a certificate of completion available?

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
... more
0 votes 3 answers Share Flag
Sat Oct 6, 2012
Alina Aeby answered:
Hi there, let's just say that renting out any illegal units will open up a lot of liabilities with any type of tenant and eventually city inspector/fire department..etc...But you probably know this already.

Cheers,
Alina
Alina Aeby-Broker Associate
Pacific Union International/Christie's International Real Estate
415.744.4844
www.bestsfhomes.com
... more
0 votes 4 answers Share Flag
Wed Dec 12, 2012
Oggi Kashi answered:
If permits were pull but never closed or modifications where made without permits, then you might inherit potential problems and/or safety issues. You may also have problems when it's your turn to sell the property. The seller may pick up liability as well. The 3R is a built-in item in the SF purchase contract (item 16A):

"16.COMPLIANCE WITH LOCAL, STATE AND FEDERAL LAWS. Buyer is advised to consult with appropriate authorities to determine the extent to which local, State and federal laws may affect the ownership and use of the Property.

A. BUILDING PERMIT HISTORY. (Applies if the Property contains one or more residential units.) Seller, at Seller's expense, shall order, no later than three (3) days after Acceptance, from the appropriate local governmental agency a Report of Residential Building Record ("3R") or similar report and provide same to Buyer. If Buyer does not deliver to Seller, within five (5) or ___days after receipt of the report, written notice approving it, either party may thereafter terminate this Contract. Brokers do not investigate or guarantee the accuracy of the information contained in such report. Buyer is strongly advised to investigate to Buyer's own satisfaction the status of zoning, permits or code compliance with the local planning department and not rely solely on the 3R or similar report that the Property meets Buyer's intended use."

Are there job cards and a certificate of completion available?

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
... more
0 votes 5 answers Share Flag
Wed Oct 3, 2012
Amy Blakeley answered:
Hi Jack,
It's more likely that the property was "in contract" to be sold within a certain time period, not actually "sold" yet. While some people do have cash and are willing to take the risk of not seeing seller disclosures, usually people make an offer to purchase subject to receiving disclosures in a certain number of days within signing the contract. If the seller doesn't provide them, the buyer can cancel the deal. Are you working with an agent? He or she should be able to explain the purchase process to you. If you are not working with someone I'd be happy to work with you and answer all of your questions along the way.

Amy Blakeley
McGuire Real Estate
ablakeley@mcguire.com
(415)533-2496
www.chateauSF.com
... more
0 votes 16 answers Share Flag
Mon Oct 1, 2012
Mack McCoy answered:
As needed?

Realistically - how many covenants, conditions, and restrictions are you going to add? You're certainly not going to remove many . . .

Is it possible that you have another document in mind? The by-laws, house rules, something else, maybe? ... more
0 votes 15 answers Share Flag
Fri Sep 28, 2012
Tina Lam answered:
Sounds like a fun research project that should last a few months or years, depending on how precise you want to be with the answer. First, you'll have to define what you mean by couples. Are you asking about married couples, domestic partners, investor partners, friends, etc.

I suggest you pull up the title records for all transactions nationwide this year. That should run about 4-5 million records. Go through each record with more than one buyer on title and verify the nature of their relationship according to your research definitions. I'd be very interested in knowing the answer myself.
... more
0 votes 6 answers Share Flag
Mon Oct 1, 2012
Kevin Ho answered:
It's about what type of dynamic you're looking to have with your clients and the ones you want to have - but in rhe Bay Area clothes may be a false indicator of who wears them, think of your Apple/Google/Instagram person. ... more
0 votes 18 answers Share Flag
Sun Sep 30, 2012
Lance King answered:
San Francisco does have strict tenant laws, but the rules regarding tenants who lease a property in its entirety are much different that for roommates. As for where to live, it depends if that price point is for a condo or a single family home. We work in all those areas and are happy to help you figure it out.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
... more
0 votes 6 answers Share Flag
Tue Sep 25, 2012
Astrid Lacitis answered:
Those condos are BMR (Below Market Rate) units meant for owner occupants who, if I recall correctly, are first time home owners. They are not meant as rental investments.

Sorry.

Astrid Lacitis
Keynote Properties
415 860 0765
... more
0 votes 5 answers Share Flag
Sun Sep 30, 2012
Gabriel Rojas answered:
Megan,

Take a serious look at SOMA or the Mission District. The Mission does have a hipster scene but that increases by the day in SF, sorry. Not all of the hipsters there are college age though.

If you don't have much of a budget to buy here you may also want to consider Oakland. It has a great scene, a booming housing market, and you'll pay a fraction for an equivalent home. Because I don't know what kind of price you're working with, I'm shooting blind here but those would be two area I would suggest.

Good luck!

Gabriel
... more
0 votes 12 answers Share Flag
Sun Sep 23, 2012
Felix Hung answered:
Bill,

What is the seller specifically refusing to sign? What kind of transaction is this?

Felix
0 votes 12 answers Share Flag
Fri Sep 28, 2012
Dino Zuzic answered:
Hi Alex,

Assuming it's priced right, and marketed with a well-known brokerage / agent that offers a robust marketing platform then I would say to expect between 10 - 20 private showing requests (public open houses aside). In today's market, you should receive between 3 - 6 offers (quiet possibly more) with a multiple bid situation and be in contract within 10 - 14 days of being on the market. As an aside, I would also set an official bid / offer submittal date to create a level playing field for Buyers, and, in turn, issue Multiple Counters and ultimately accept (extract) the highest price possible.

The aforementioned is essentially what I'm experiencing in SF.

Good luck!
Dino Zuzic, MBA - TRI Coldwell Banker
www.dinozuzic.com
... more
0 votes 12 answers Share Flag
Sat Sep 29, 2012
Jim Olive answered:
Good question Ali. Numbers I've seen suggest a historical appreciation rate for stock portfolios at around 10% (long haul, averaging out the big ups and downs), while real estate figures are closer to 6%. However, you can't live in your stock portfolio! One thing that is certain, you will NEVER recover your spent rent payments. Current conditions suggest that we're poised at a low-point for real estate, so near-term gains should be much higher than the long-term historical rate. Put it all together and I think a 20 something would be well advised to buy real estate. And buy a lot of it. Spread your capital across several properties and the income from them could well carry you into your retirement years. As a retired military officer, I know lots of folks who purchased different homes at each duty station and ended up with a NICE portfolio of properties that will make them wealthy in their twilight years and leave a healthy estate for their children and grandchildren. Good for you for planning for your future! Best of luck...Jim ... more
0 votes 12 answers Share Flag
Sat Sep 15, 2012
Pam Crawford answered:
If you are a realtor, check your code of Ethics, you will find the correct answer.
0 votes 28 answers Share Flag
Fri Sep 14, 2012
Michael Cheng answered:
Depending on the phase of the condo development, you should expect to see the public records on the buyer names and purchase prices in about 45-60 days after the close. If you would like to withhold that information, you can choose not to record the transaction within public records. But, you would need to pay all cash to have that option. ... more
0 votes 6 answers Share Flag
Wed Sep 12, 2012
Kevin Ho answered:
You'd hope the answer was straight-forward, but because we live in such a special place, there are all kinds of special cases that will change the answer, which is it depends on a building's age (pre-1979?) and legal definition (condo, house, TIC?) and the tenant's characteristics (older, younger, school-aged children, disabled?)

In many cases, if a tenant has been in a location for more than a year, they most likely must be offered certain statutory-defined minimum relocation fees/assistance (about $5400 per tenant, plus certain add-ons for older tenants or extended family members); if there are school children involved, owner-move-in evictions can only take place in the summer. While you can do an owner move-in eviction unless the tenants there qualify for "protected status" in which case you can't.

There are a lot more variations that come into play too. For more contact me or check out Bornstein and Bornstein website or that of the SF Tenant's Union.
... more
0 votes 9 answers Share Flag
Wed Sep 12, 2012
Lance King answered:
It really depends on your criteria and budget as there are many neighborhoods with yards that are dog-friendly. If you send me your criteria - max price, min beds/baths - I can put together a list of viable options for you.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
... more
0 votes 7 answers Share Flag
Fri Sep 7, 2012
answered:
Hi Paul,

VA loans a specialty for us.
With rental experience, that is a plus.
I would be very happy to have an opportunity to help you.
I am located in Fremont just steps from the BART station.
Let me know if you would like to discuss. cgravelle@diversifiedmg.com
... more
0 votes 3 answers Share Flag
Tue Nov 5, 2013
Helen Yuen answered:
Hello:

Are you an overseas citizen or are you a citizen of ATL GA in the US?

If you want to borrow 10% to make your 20% downpayment, there may be a private lender for you but they charge about 10% interest and you will need to provide the private lender detailed information about your investment for loan approval.

Helen Yuen, Land & Property Investment, Inc helenyuen@lpirealtor.com
... more
0 votes 3 answers Share Flag
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