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Brea : Real Estate Advice

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  • Local Info4
  • Home Buying55
  • Home Selling1
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Activity 44
Fri Jun 10, 2011
Michael Tomita answered:
Mon Nov 17, 2014
Melissa Krchnak answered:
I'm not sure what you're asking. A Deed in Lieu is when the person simply gives the home back to the bank and they avoid foreclosure. Can you reply so that I can give you more information? ... more
0 votes 9 answers Share Flag
Tue Jun 19, 2012
Dallas Texas answered:
Professional code of ethics prevents Realtor render any opinion recommend Google search

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 2 answers Share Flag
Tue Mar 22, 2011
Jennifer Lafferre (562) 477-0574 answered:
The Tamarack is a nice place. Great area, quiet, friendly, and safe. I have a friend that has lived there over a year, he loves it. Good luck!
0 votes 1 answer Share Flag
Fri Mar 11, 2011
Roy Hernadez answered:
hello,
Not sure what complex you're speaking of....could you give me a cross street or name of the complex? Is this coplex in Brea?

Roy
0 votes 1 answer Share Flag
Tue Dec 21, 2010
Joan Braunschweiger answered:
40 years?!

I would say that only the town can answer your questions. I would hope there would be some leniency considering the amount of time that has passed. Remember, the big issue is safety. It is only to your advantage to know if the work was done right and obviously you are going to have to go through the process in order to get a CO for the addition and to sell in the future so I say the sooner the better. ... more
0 votes 7 answers Share Flag
Sat Feb 19, 2011
Scott Miller answered:
Hi Andrew. Two things. I'm not an attorney and I'm not giving you legal advice. BUT...you really need to be using an attorney in any and all real estate transactions to represent you specifically because of this situation you're in now.

Without having the agreement in front of me and not being able to see it firsthand, it's difficult to make a perfect call. But from what you're describing, you do NOT have what's called an 'executed contract'. An executed contract means that it's signed by all parties. What are the contingencies you're referring to? If you do not have a bona-fide contract signed by all parties, nobody should be bullying you into this deal.

Do you at least have a REALTOR representing you? If not, then you really need to start working with both an agent and real estate attorney in the future. The agent will be paid by the sellers, you don' have to pay. The attorney is worth every penny (less than $1000) and will keep you safe from harm and manipulative agents trying to push a dead deal through to close.

GOOD LUCK.

Scott Miller, Realty Associates, Boca Raton, FL
... more
0 votes 14 answers Share Flag
Sat Jul 24, 2010
Connie Bramble answered:
Hi Dominic,
Why do you want something that the owner is willing to carry? Are you self employed and write most of your income off or something? $1600 a month will get you a $250K condo in our area. There are actually many of them out there right now. Tough to find an owner willing to carry right now. I have only seen one in the past 2 years. Buying a mobile home, you may find an owner to carry, but that is because it is very hard to resale most of them. And the rents are getting so high now it just seems to be getting worse for selling mobiles. Condo is most likely your best bet to stay in the price range you want. Call if you want to talk more about it. Have a great weekend,
Connie Bramble
Prudential CA Realty
714-337-8718
... more
0 votes 0 Answers Share Flag
Tue Oct 12, 2010
Dan Chase answered:
Look at a similar question below. It gives a real good answer to your question.

http://www.trulia.com/voices/Agent2Agent/Do_You_show_Listings_in_the_rain_-197425
0 votes 35 answers Share Flag
Thu Jun 25, 2015
Hannah Fliegel answered:
Hi Lenora,

I am not sure what your question is exactly. Here is what I think you are saying. You did a short sale so you do not qualify for "institutional bank financing" Therefore you are using a hard money loan as a bridge loan until you can get your credit in good standing and then refinance with a bank in order to get a lower interest rate. I think this is what you are saying.

Ok, I wrote a book about this and I will be happy to send to you FREE of course. It's a quick read and very useful. Secondly, you might want to see where you currently stand with your credit rating and credit score that you can begin to rebuild your credit rating for a bank loan and not have to pay expensive hard money.

I can also assist you repair and rebuild your credit rating in 4-6 months. Therefore, make sure with your hard money lender that there is no prepayment penalty. If you work with me, I will fix your credit and you will then qualify for cheaper bank financing and I do not want you to have a "prepayment penalty" for obtaining cheaper money elsewhere.

Hannah Fliegel
The Credit Repair Expert
415-999-9348
... more
0 votes 3 answers Share Flag
Mon Jan 11, 2010
Connie Bramble answered:
Just a test to see how it workd!!
0 votes 6 answers Share Flag
Thu Sep 10, 2009
Vicki Lloyd answered:
Each short sale is different, and that's part of what makes it so frustrating to both agents and buyers!

The answer to your questions depends on how much is owed to each lender (how big of a hit they are willing to take), and how far behind the seller is with his payments, you might get an answer soon, or not!

Many lenders with 1st TDs will negotiate and accept a lot less than owed, but then insist that the holder of the 2nd TD may only receive a very small amount of the total proceeds. The 2nd may agree to take that amount, rather than be wiped out completely, or they may insist on the seller signing a personal note for the balance. If the seller refuses to sign a note for the balance, and the 2nd won't allow the short sale, then the lender of the first will eventually foreclose on the property. (Then you may be able to buy it as an REO eventually.)

There is no way to tell how it will go without a lot more detail, and then it would only be an educated guess!

Good luck & keep looking for other properties!
... more
0 votes 6 answers Share Flag
Fri Mar 27, 2009
Bob Phillips answered:
If your signature back to the seller was not followed back by a signed acknowledgment, then it probably wasn't a completed negotiation.
0 votes 3 answers Share Flag
Mon Mar 8, 2010
Dave Osborne answered:
Yes - I have a list of 25 including detached single family homes. Call me at 714-349-5454 or drop me a line at daveo@theOCmls.com and I will be happy to email it to you..for free and with no further obligation.

Thanks and good luck in your home search.

Dave

PS You can now search for short sales and foreclosed homes yourself at www.TheOCmls.com
... more
0 votes 5 answers Share Flag
Thu Feb 2, 2012
Thom Colby answered:
Veruska,

In the simplest of terms, a Short Sale Negotiator (on the seller's side of the transaction is typically the Listing Agent) negotiates with the current mortgage holder for a "Short Payoff". For example, if you own a property and have a mortgage of $500,000 and that property is listed for sale and receives an offer of "true market value" of $300,000 - the short sale negotiator (or Listing Agent) negotiates with the bank to accept that offer and close the transaction.

100% of my business this past year has been Listing Short Sale Properties. I've had a successful track record of getting short sales accepted and closed - even in the most difficult circumstances such as 1, 2 or 3 loans on the property. It's tricky and there's a science to getting it done.

Best of luck and call if you need more help!

Thom Colby
Broker & Realtor
Southern CA
949-887-5500 - OC
562-422-4000 - LA
... more
0 votes 23 answers Share Flag
Sun Feb 21, 2010
Lars Nordstrom answered:
If you offer what the short sale was approved at, the process will go much quicker. If you offer less than the approved price, then it is "subject to lender approval" all over again. Have your Realtor inquire what the approved price is and then offer that if you want a fast process and if you want to move into your home by spring time instead of summer time ;-) ... more
0 votes 12 answers Share Flag
Sun Oct 19, 2008
Dave Osborne answered:
Hi Sam,

On the surface, it seems like you would be more than qualified. I'm not a mortgage person but I have a client with a very similar situation (Same basic salary, similar work history, no credit card debt, small car loan, lower FICO score and about the same in savings )and they were approved for well over $300K and about to close escrow. If you are looking for a primary residence, you will not need 20% down. If you are looking for an investment, that is a different story.

If you want the contact info broker that I used, let me know. He's in Brea as well. Good luck in your home search! DaveO@theOCmls.com
... more
0 votes 4 answers Share Flag
Tue Oct 7, 2008
Scot Harakuni answered:
Hi Paula,
My name is Scot Harakuni and I am with First Team Real Estate/Yorba Linda. Thank you for your questions regarding the following properties:

148 Foxglove
Closed escrow on 8/14/08 with a sold price of $849,000
Days on market: 35
Lot size: 9,077 sq/ft (assessor) (0.21 acres)
Home size: 2,987 sq/ft (assessor)
4 bed/ 3 bath, 3 car attached garage
Built in 1978

112 N. Starflower
Closed escrow on 7/15/2008 with a sold price of $745,000
Days on market: 131
Lot size: 9,077 sq/ft (assessor) (0.21 acres)
Home size: 2,987 sq/ft (assessor)
4 bed/ 3 bath, 3 car attached garage
Built in 1979

Both homes have identical footprints. and are located in the Eagle Hills community. I specialize in all of Brea, Yorba Linda, Placentia and Fullerton. If you are interested in other homes currently available in the area or are considering selling yours, please feel free to give me a call or send me an email anytime. I can be reached at 714-732-8567 or 714-646-3262, or email me at sharakuni@yahoo.com. If you would like to search on your own, please visit my website. There you will be able to search the entire MLS and register to receive your free copy of "The New Rules of Real Estate". I look forward to hearing from you soon!
... more
0 votes 1 answer Share Flag
Thu Sep 11, 2008
Joe Homs answered:
Melanie,

Be careful with this. Here is what you are really purchasing with your money:

As one means of generating lost income from delinquent taxpayers, county governments offer Tax Sales at auction to the public. During Tax Lien Sales, what is purchased at these auctions is not land, rather a debt to be collected on. By purchasing the right to collect past due taxes, a buyer is in essence loaning money to the property owner to pay their taxes. During Tax Deed Sales however, the winning bidder will own the deed and the land, having purchased it from the county or authority performing the sale.

A Tax Lien, or Tax Certificate Sale is a public sale, usually at auction, of the right to collect on a delinquent taxpayer's debt. This sale is held by the County, generally once each year. What is purchased by the winning bidder is not the deed to a property. The purchaser's money pays the delinquent taxes to the County on behalf of the delinquent property owner. In exchange, the purchaser is given first lien position on title, ahead of mortgages, deeds of trust, and judgments, subordinate only to State tax liens.

Under the terms of the sale which may differ greatly from county to county, if the debt is not repaid with interest (rate determined at the time of sale) within a specified time period, the purchaser of the tax lien may foreclose upon the property, and all junior (subordinate) liens are dissolved, forgiven, or otherwise not the responsibility of the purchaser. If you are interested in participating in a Tax Lien or Tax Certificate Sale, contact the county for specific information and details both about the sale and the properties.

A Tax Deed Sale is a public sale, usually at auction, of the deed to the property of a delinquent taxpayer. The Owner and all lien holders have been given ample time and have received proper legal notification that the property will be sold if due taxes are not satisfied. Different than a Tax Lien Certificate Sale, the winning bidder purchases the deed to a piece of property, becoming the new owner and obtaining all rights to the property free and clear of liens, mortgages, deeds of trust, etc.

It is extremely important to know and understand which type of sale you are attending, a tax deed or tax lien/certificate sale. Each has specific rules and guidelines which must be followed promptly, and which can differ greatly county to county. It is strongly recommended that anyone interested in attending a tax sale be aware of the method and timeliness required for payment and delivery of a property. For further information, familiarize yourself with property tax law, consult a legal attorney, and contact the government agency conducting the sale.

If you have any other questions do not hesitate to contact me. I work with foreclosures, short sales, and probate properties and have found great deals there.

Joe Homs
Realty Partners
949-625-4533
joe@joehoms.com
... more
0 votes 4 answers Share Flag
Fri Dec 5, 2008
Myke answered:
If you're buying a home, and it came out during inspections that there was a termite problem - the first question I would have to ask, is why are you still buying the home?

THe answer to your question however, depends on the contract. Typically - i would certainly hope that your contract is structured in such a way that the seller is responsible for repairs that are a result of inspections - or that at the very least, when this problem was found - you negotiated with the seller to pay for the repairs.
That being said - I would argue that repainting is simply a part of performing the remedy to the inspection, and yes - the seller should pay for that. At the very least they should run down to the home depot and buy a can of paint, and spend 20 minutes making it look nice.
... more
0 votes 12 answers Share Flag
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