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Home Buying in Agoura Hills : Real Estate Advice

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  • Local Info9
  • Home Buying9
  • Home Selling1
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Activity 15
Wed Jan 11, 2012
Ron Thomas answered:
You are assuming that the LISTING PRICE was some reasonable, well-thought-out, set-in-stone, piece of work:
You may be right.
You may be wrong.
Today, many Listing Prices are set intentionally LOW, 10-20% low, to attract multiple offers.
So if the house was $200,000, you are probably 25% under a reasonable price!
But you don't know, and neither do we.
You didn't get a CMA from a Realtor to determine the Fair Market Value for a good starting point.

I would say that your chances are very poor.

Good luck and may God bless
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Tue Sep 10, 2013
Anna M Brocco answered:
If you are trying to amass comp information from online sites, be aware that not all the information may be accurate nor updated; if you are looking to purchase, so not to overpay, it's really in your best interest to work with an agent of your own; he/she can run comps based on accurate and up to date information..... ... more
0 votes 4 answers Share Flag
Tue Sep 10, 2013
Don Tepper answered:
Realistically, the seller probably doesn't have the money to make the repairs.

Check with your Realtor on how to handle that situation.

By the way, have you confirmed that you're really paying "market price"? Usually, people go after short sales because they're trying to get a bargain. I hope your Realtor ran comps on the property to make sure you were getting a good value.

Hope that helps.
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0 votes 9 answers Share Flag
Wed Dec 7, 2011
Don Tepper answered:
The laws vary by state, county, and city. Presumably, your Realtor knows what the regulations are in Agoura Hills.

There's nothing you can do to speed up the law. The process is usually very specifically defined: You issue your "pay or quit" notice. Often it's a 3-day or 5-day notice, but again that'll vary. Then, if the tenant hasn't paid or left, you then can go to the court and get an order that'll lead to the sheriff coming out. But you can't (and shouldn't) cut any corners. Ten days is actually super-quick.

However, if the deed hasn't transferred yet, that's really the responsibility of the seller. First, at this point it's the seller who has standing with the court. You're just an interested party. The owner is the one in the position to evict. The tenant doesn't have a lease with you.

Further--and your Realtor can advise you, as can a lawyer--you shouldn't close on the property with a squatter in there.

There is one way, maybe, to speed up the process: Cash for keys. You pay the squatter to move. You don't pay until after the squatter has moved out, though. But you make an offer: $500, maybe. Or $500 and moving expenses. Or $1,000. Use your own judgment. Sometimes that's the quickest and easiest way to get a deadbeat out.

Again, check with your Realtor and with a lawyer.

Hope that helps.
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0 votes 1 answer Share Flag
Thu Oct 16, 2014
Emily Knell answered:
Yes, she could probably back out without penalty, since some or all of those items are attached fixtures & were included in the standard purchase agreement.

Please have her buyer agent pull up most recent comparable sales, it's possible that she's still getting the house for a great deal & those items are rather minor, in the grand scheme of things.

EmilyKnell1@yahoo.com
562-430-3053 cell
Realtor Since 1996
Short Sale Expert
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0 votes 11 answers Share Flag
Tue Nov 16, 2010
Scott Godzyk answered:
The seller often does not know how much teh total short fall is (but should know a ball park figure) but more importantly does not know if the bank will forgive teh short fall until the time they give approval or denial. Most often the negotiator for th seller does not think to negotiate what will happen to teh short fall so teh bank automatically makes the seller responsible for this amount. As far as what your rights are, it depends what the wording in your contract states, does it say it is contingent upon approvale of teh short sale by teh seller s bank or by teh seller AND the sellers bank. Have your agent review this with you, if you are buying without an agent, seek the advice of a lawyer. good luck in working things out

Please see my blog with tips and advice on short sales
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Tue Nov 16, 2010
Daniel Magallon answered:
Every Bank has their own rules and I am sure their rules vary state to state. Some banks want to see all offers some banks want highest and best terms. Ultimately the seller/owner is the one who approves or accepts the offer which then goes to the bank for their negotiation. The bank usually has only one offer on the table they are "working" on at a time. Due to the length of time involved for a short sale the current buyer/offer may back out so hang in there. As of April 2010 most banks are on board with the Home Affordable Foreclosure Alternatives Program (HAFA) and are working short sale quicker. ... more
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Tue Nov 16, 2010
Gerard Dunn answered:
If you have a lease with your landlord that is valid and in place - you are still required to pay rent.

You can plead your case in landlord tenant court - and let the judge make the determination as to what you must do. You may consider (Upon legal consul advice) to hold your rent due in escrow until a judge determines the best practice.

Let us know what the judge says!
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Mon Oct 5, 2009
Emily Knell answered:
It's about 1.1% of the purchase price. If you have a specific neighborhood in mind, there may also be a Mello Roos assessment billed separately from property tax, however also included within your property tax bill.

With a townhome there will also be a homeowners association fee.

emilyknell1@yahoo.com
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Sun Jul 17, 2011
Barry Shapiro answered:
A Special Assessment Bond is a special type of municipal bond used to fund a development project. Interest owed to lenders is paid by taxes levied on the community benefiting from the particular bond-funded project. For example, if a bond of this sort was issued to pay for sidewalks to be re-paved in a certain community, an additional tax would be levied on homeowners in the area benefiting from this project. Area homeowners get nicer walking paths, and they will probably see the value of their property increase accordingly, but this comes at a price. Their property taxes will increase to pay the interest owed to the bondholders by the municipality. It's similar to a Mello-Roos tax. Here is an EXAMPLE for one in Agoura Hills: http://www.fmsbonds.com/pdfs/00848qax6.pdf I hope this helps! ... more
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Wed Dec 16, 2009
Joe Nernberg answered:
I know know of any - personally. However, Agoura Hills is a great place to raise kids. I can't think of a better place to live. BTW, my son is on the Agoura High football team. We are slow growth here - no large malls, department stores and Home Depot. Every walk of life is represented... and welcome. ... more
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Tue Aug 25, 2009
Richelle Briasco answered:
My first question to you would be do you have an accepted offer? Did the owner of the property accept your offer? Did the negotiator for the bank/the bank accept the offer? If the owner accepted the offer, but the bank did not, there is no legal and binding contract. You may move on. If your Real Estate agent was working to protect your best interests, there would be a "Short Sale Addendum." Through negotiation, the deposit should not have entered into escrow until there was an accepted offer from the bank. If these are the conditions, you may move on. If you do not have an experienced Short Sale negotiator working for you, you may still move on under certain conditions. You will need to read the purchase contract and address the conditions of the sale. Are there appraisal contingencies, loan contingencies, inspection contingencies? Feel free to post more details so that you can get better advice. If you would like to get more information please feel free to call or email me with no obligations. Have a positively wonderful day.

Richelle Briasco
RE/MAX Estates
richellebriasco@yahoo.com
818-923-8921
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0 votes 2 answers Share Flag
Wed Sep 11, 2013
Violette Beshay answered:
Shredder,

How did you make the offer on the property? Did an agent represent you? If so, they can find out the status of the offer that was made. Short sales take a long time to be processed. You may not find out the status of your offer for up to 45-60 days. An offer is submitted to the listing agent who in turn submits it to the loss mitigation person he is working with. Then an BPO and appraisal is ordered ... there may be a counter or it may be rejected if it is a low ball offer. If it is an accepted offer, the listing agent finds out and will inform the buyers agent...who in turn informs the buyer, in this case you.

If you have any other questions, email me at:
vbeshay@pvexecs.com
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0 votes 6 answers Share Flag
Sun May 31, 2009
Bill Eckler answered:
We find the typical home buyer has a very poor understanding of the home inspection process. Our feeling is that inspectors would benefit from having a brochure or information card the provides a brief explanation of the inspection process, the areas it covers, what it doesn't cover and an explanation of the fee structure.

We encourage our customers to be present for the inspection but to not get in the way of the inspector as he/she does their job. This provides the buyer with a feeling of comfort, seeing the process....on the roof, in the attic, in the cellar, etc.
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Mon Mar 2, 2009
BOB Khalsa answered:
Not to disillusion you but here is my experience with Countrywide. An offer for a short sale was written on August 12, 2008, accepted by the Seller, and after a lot of hassles ,has just been approved by Countrywide. We open escrow today. Not every case should be like this, but its better to be prepared.

Bob Khalsa
Broker Owner
United America Realty
bobfoxbat@gmail.com
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