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Home Buying in Hawthorne : Real Estate Advice

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  • Local Info12
  • Home Buying11
  • Home Selling1
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Activity 10
Thu Nov 21, 2013
answered:
Yes, they can. The CC&Rs & bylaws of the HOA are no joke, it's very important to read them before you purchase a condominium. Not all HOA's have that restriction, but many of them do. Further, even after the first year, there may be additional restrictions on renting out your condominium. For example they may only permit a certain amount of condominiums to be rented and if that percentage has been met, then you would have to put yours on a waiting list. The purpose of that may be to either maintain their approval for FHA & conforming financing, or just to maintain "pride of ownership" as studies have shown that owner occupants take better care of their properties than tenants do.

Shane Milne | Lending in all 50 states | NMLS #81195
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Sun Sep 16, 2012
Laura Feghali answered:
Hello Mynerd,
Every short sale is different so it's difficult to determine what amount the lender is willing to accept. Your agent has submitted comparable sales and appears to have good follow up with the sellers and seller's agent.
Keep consulting your agent as he/she is working for you in your best interests; not the sellers or lenders.

Good luck!

Laura Feghali
Prudential Connecticut Realty
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Fri Sep 21, 2012
Ron Thomas answered:
Lease/Option
You are desperate!
Your Credit or Finances, or both, will not allow you to go the conventional route:
You need the Seller to help you out!

The Seller will know it, and you are going to pay dearly for this service:
There aren't too many altruistic Sellers out there.

The terms that can be written into a Lease/Option can be dangerous to you:
How long is the Option period?
How much money are you putting in to the Option?
What happens if you are not able to execute the Option?
How do you know what your financial situation will be 2-5 years from now?
How much is the rent in the meantime?
Who will be responsible for maintenance and repair in the meantime?
What will be the Market Value of the home in 2-5 years?
What will be the Selling price 2-5 years from now?

This is the Ultimate Caveat Emptor!
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Tue Jun 4, 2013
Robert Chomentowski answered:
The VA core guidelines do not care if the buyer pays for termite work (they just can't pay for the termite report). But most lenders have an overlay not allowing the borrower to pay for the termite work. Sometimes they will ask for the invoice to see who paid. Although I believe there are a few lenders who either do not ask who paid, or are OK with the buyer paying. I would have to double check. Let me know if I can assist. ... more
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Mon Apr 12, 2010
Lew Corcoran answered:
The appraisal obtained by the seller will not be accepted by any lender under any circumstances. Lenders can not have any communication with an appraiser or otherwise try to or appear to try to influence any appraisal report, and must work through 3rd parties such as an Appraisal Management Co. Even then, the appraisal report is still subject to underwriting review. ... more
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Tue Sep 4, 2012
Dyanna answered:
I don't see what the problem is, cancel. If you really don't like the estimate and are having second thoughts about the purchase and you have not signed escrow instructions, then you still don't have a deal.

The check was made out to the escrow company,not the loan officer or his/her company.

If you have not moved forward with escrow you still have time to canel without having to pay any penalties, but it has to be done before you sign anything else.

Good Luck,
Dyanna
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Fri Sep 21, 2012
Steven Ornellas answered:
Skint, you made an offer at current market value and it has been accepted with an appraisal that has verified current market value. Any equity would now be based on your downpayment amount. What was your goal? What area is this home located? -Steve ... more
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Fri Aug 9, 2013
Tina Lam answered:
Appraised value has no relationship to equity. It's only an opinion.

Equity is the residual after determining the true, arms-length market price of a property minus any debt. You can only find that out from market bids. Appraisals are merely for lender's comfort and have little bearing on market prices.

If you really have no equity, you can always pay down the debt faster to regain equity. Or, you can consider a default option.
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Sat Jun 21, 2008
Love asked:
bye doing this before i move there it a dream i am going to do please any help would be great, i plan on moving to hawthorne, fl very soon and i have been wanting all my life to start...
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Wed Jul 30, 2008
Deborah London answered:
Hello Helene. I know of a property soon to become available in Hawthorne, CA. It's not on Parker Ave, which is in Monrovia. It is a foreclosure home not yet listed on the MLS. Are you interested in hearing more about this single family home? Call me at 310-808-3739 or email me at dlondon@remax.net ... more
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