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95060 : Real Estate Advice

  • All33
  • Local Info3
  • Home Buying12
  • Home Selling4
  • Market Conditions0

Activity 59
Tue Apr 23, 2013
Kristina McCann answered:
Hi April! You'll have to consult your purchase agreement. Typically, it will state, in the top third of the first page, what the anticipated close date is. It's normally either an actual date - or 30 days (or another number of days) after "acceptance". If this is the situation with your contract, "acceptance" is when the final signature on the contract was signed / dated, thus making the contract live. ... more
0 votes 2 answers Share Flag
Fri Mar 6, 2015
John Watson answered:
Hello Arianna
If you contact the Santa Cruz board of Realtors I believe they have an assistance program. Contact me if you have any questions.
0 votes 4 answers Share Flag
Tue Nov 27, 2012
M.C. Dwyer answered:
Hi Alice - You may have to ask your agent do this for you; these national websites are notorious for delays in their software catching MLS changes.
0 votes 1 answer Share Flag
Mon Apr 25, 2016
Molly Thompson answered:
You should be more concerned about the 3.8% tax that's part of the ObamaCare program. It takes effect Jan 2013... so you have 6 weeks to sell to avoid it completely and I'd be glad to help :) !
A tax advisior can give you more specifics...


Molly Thompson, Broker Assoc, APR
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0 votes 2 answers Share Flag
Sun Oct 28, 2012
Don Tepper answered:
Legally? Check with a lawyer.

My non-legal opinion is: Probably, yes.

OK: It's going to be resident-owned. That's the description of the mobile home park after the process is completed.

It's an entirely different question than asking: Who will be entitled to be a resident?

Just because you're a resident now doesn't mean that you meet whatever qualifications the developers have for ownership.

Now, obviously, you can't be discriminated against for things like race and religion. But the developers could establish a minimum income requirement. They might be able to say something like: "If you're employed, your employment must be within 50 miles of the park." The reason: If you live farther away, then likely you're not really going to be a resident; you're probably planning on renting your mobile home out, in violation of the regulations.

So: Check with a lawyer. But don't be surprised if the developers can restrict current residents from purchasing a share.

Hope that helps.
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0 votes 1 answer Share Flag
Sat Dec 16, 2017
John Arendsen answered:
A coop is a corporation whereby each homeowner owns a percentage of stock usually 1 percentage share ot the park/community and shares in the grounds and amminities maintenance. Example: Let's say there's 100 spaces in the park/community. Each resident would own 1/100 or one share of the stock.

In a coop you do not have any equity in the real estate and it is therefore very difficult if not impossible to borrow against it. It's a cut above just renting/leasing but by no means does it compare to owning your property.

In a condo conversion the homeowner owns their airspace in much the same way as you would in any condo development. You share the cost of maintanence and common grounds. You can obtain a home loan on a condo in much the same way as you do on any real estate purchase (conventional forward or reverse mortgages) providing the home was built after June 15, 1976 and has an engineered certified foundation system under it.

There there's a sub-division which is another form of a conversion from a rent/least park/community where the homeowner actually owns their own lot and not just the airspace. In this situation the same rules apply for loans as in condo-conversions.

In both condo conversions and Sub-divisions it can be pretty tricky at arriving at fair and accurate LTV's as the age, style, condidion, size and value of the homes can change drastically making it difficult for appraisers to arrive at consistant values.

Planned Unit Development (PUD) Here an entire community was designed, developed and built out as a resident owned Manufactured Home Community from it's inception. All the homes typically had to meed certain CC&R's (codes, condidions & restrictions) on exterior finish, architectural style, set back requrements etc. These are usually new communities built circa 80's and newer.

The same lending conditions apply here except because they are newer and more consistantly designed and maintained according to development rules and regs they tend to comp out more evenly and equally making it much easier to arrive at adequate LTV ratios.

Finlally there are individual privately owned lots or parcels on private property that are not connected to any type of park/community, condo, sub division or PUD. These types of developments can often be tricky as appraisers usually have to be able to comp a manufactured home within a 10 mile or less radius from the subject property which can be difficult if there are none in the immediate area. Hope this helps.
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0 votes 9 answers Share Flag
Wed Aug 15, 2012
John Arendsen answered:
Is this park/community a rent/lease or resident owned park. If resident owned and the home was built before June 15, 1976 there are FHA lenders who will give you a fully amortized 30 year mortgage if the home is on a foundation. If in a rent lease community as Bobbie has stated it can be more difficult albeit doable.
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Tue Aug 7, 2012
Bryan Myers answered:
Hi Weezie,

Unfortunately in a foreclosure the HOA can come after you for the owed amount. I have seen this several times.

Bryan Myers
0 votes 2 answers Share Flag
Mon Jul 23, 2012
Carla Muss-Jacobs, Principal Broker/Owner ~ Exclusive Buyers Agent ~ ABR, CEBA answered:
You are asking very "legal" questions which involve landlord/tenant issues in your state. Best thing to do is contact a lawyer who will review all the documents who know the law and can give you legal advice, which is what you need. If it's about finances, try getting a lawyer through the local State Bar Lawyer Referral program . . . I'm sure they have that in your area. In my area (Portland, Oregon) the cost to discuss issues with a lawyer through the referral program is $35 -- well worth it!! ... more
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Tue Dec 17, 2013
Lisa Beebe answered:
If you're a UCSC student, you can access rental listings posted on the UCSC Housing Registry:
It's free and easy to use, just register with your student email address. ... more
0 votes 5 answers Share Flag
Thu Dec 13, 2012
Lance King answered:
It's hard for me to comment without knowing all the details of the deal. Signing an inspection delivered by the seller as part of a disclosure package is not in and of itself a problem, but in my view you should still have your own inspection. Most sellers understand this, and if you have to waive inspections in order to get an offer accepted that is almost always a bad idea.

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
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0 votes 14 answers Share Flag
Tue Nov 13, 2012
Steven Ornellas answered:
Hi Ken:

I suppose you should be concerned you are not aware of what you will not be getting, so let’s start there.

If the Sale is via Probate /Trust / Bankruptcy on Residential Real Property 1-4 Units, then here is what you will not be getting from the Seller:

1) Carbon Monoxide Detector Disclosure
2) Home Energy Rating System (HERS) Booklet
3) Homeowner's Guide to Earthquake Safety
4) Mold (Disclosure of Excessive Mold or Health Threat)
5) Residential Environmental Hazards Booklet
6) Smoke Detector Written Statement of Compliance

Special Case Situations:
If the trustee is a natural person who is the sole trustee of a revocable trust and he or she is a former owner of the property or an occupant in possession of the property within the preceding year, then the following are required:
7) Industrial Use Zone Location
8) Mello-Roos, 1915 Bond Act Assessments, and voluntary contractual assessment. Note: This information, as it pertains to Mello-Roos Community Facilities Districts, generally applies to resale transactions. Subdividers and their agents may have to comply with separate Mello-Roos district disclosure obligations under California Government Code § 53341.5.
9) Military Ordnance Location
10) Private Transfer Fee
11) Supplemental Property Tax Notice
12) Transfer Disclosure Statement

The following Disclosures are also not required; however, they can be easily obtained by paying for Natural Hazard Disclosure report yourself. For example, you can obtain a Disclosure Source “Premium” NHD Report for about $120 by going to

13) Airport in Vicinity
14) Farm or Ranch Proximity
15) Mining Operations
16) Natural Hazard Disclosure Statement

In regards to minimizing your risk, simply put, your best initial move is to team with a local Realtor® where the property is located to help guide through the process!

Here are some links I believe you will find quite useful in the selection process:

CA DRE licensees are NOT bound to a Code of Ethics; only Realtors® take that oath. The one page version can be viewed here:

You can check to make sure an Agent is a Realtor® by going here:

You can check the status of a DRE Licensee and their Broker (and past violations) here:

You can check for Desist and Refrain Orders, and Unlicensed Activities here:

While not required to receive excellent representation, consider searching for a Realtor® who is also an Accredited Buyers Representative here:

Best Regards, Steve
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0 votes 2 answers Share Flag
Tue Oct 2, 2012
Ron Thomas answered:
No, they would normally not be included,
unless you included them in your offer,
they were still there when the Escrow closed.
They are not "attached" to the house.

The Sellers, (you?) should remove them as soon as possible to avoid conflict.

Quite often, if they are there when the offer is made, and removed at the "Final Walk Thru", an arguement could be made....
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0 votes 13 answers Share Flag
Mon Oct 29, 2012
Sebastian Frey answered:
That's a good question! You'd think in a market like this - with very low inventory - people who wanted to sell by owner would be putting up lawn signs all over town. I've seen a few, but not many. Ultimately, though, I think the reason there are so few For Sale By Owners is that many people have realized it is not a very good way to get your house sold - especially if you are under water on your mortgage, as many people are. But even if you're not underwater, selling by owner is difficult to do, and usually won't end up saving you any money (which, let's admit it - that's the only reason a seller would want to sell by owner). Check out the link to the story about Colby Sambrotto, the founder of ForSaleByOwner Dot Com - who ended up selling his New York condo through a broker, after he himself failed to sell it by owner. ... more
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Tue Jul 31, 2012
Carol Perdew answered:
Hello Alisweber,

Your situation you described sounds very frustrating. The seller owns the short listing and is the one who should choose an offer to accept. The short sale has to approve the offer the seller accepts. I would be curious why the seller has not accepted your offer.

Possibly the seller is not wanting to accept USDA financing because this type of financing may require repairs on the home. Short sale listings are sold as is since the sellers do not have money for repairs and the short sale lender will not make repairs. You may want to look into another type of financing that may be more acceptable for a short sale.

Carol Perdew
Prudential California Realty
(209) 239-7979
DRE 985176
... more
0 votes 6 answers Share Flag
Thu Mar 5, 2015
Suzanne MacDowell answered:
In some very narrow cases, yes. The USDA still offers no money down loans. Talk to a local lender and see what programs are available.
0 votes 9 answers Share Flag
Thu Nov 21, 2013
John Watson answered:
Hello Nicole

Ron at is a great General Contractor who could give you some information and does great work. Contact him through his web site. If I can be of service you can contact me at (831)428-3296.
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Sun Feb 19, 2012
John Flaniken answered:
I successfully closed several investor deals in 2011 and have a strong background in handling distressed properties. My preferred minimum criteria for potential investor clients: all cash offers and $150K and up properties.

You can learn more about me on my REO and Short Sale specific website: or follow me on my blog:

I look forward to assisting you!
John Flaniken
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0 votes 7 answers Share Flag
Sat Jul 2, 2016
Raymond Garcia answered:
If there are multiple offers on the house, then yes. It's a matter of how much demand there is for this particular property. Think of it as an auction, e-bay for instance. We're all in a market where the highest bidder wins. If there are no bids, and you're the only person offering to bid, then YOU are in the drivers seat and you can offer a LOWER price, if the seller is desperate enough, they may accept your offer.

It's a free Market society and it can swing in both directions.

Hope this helps on your bid.

Ray Garcia
... more
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