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Home Selling in Modesto : Real Estate Advice

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  • Local Info38
  • Home Buying141
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Activity 20
Sun Feb 3, 2013
Scott Godzyk answered:
That sounds a bit high. The best way is to get an estimate direct from your agent. The 2 largest costs are the commission you pay, the amount of transfer tax your state may charge, Some smaller costs are recording fees, preparing the deed and any releases of your mortgage, Your agent should be able to give you the amount that is pretty close to exact ... more
0 votes 10 answers Share Flag
Mon May 20, 2013
Rocky G.H. Hawrysz answered:
That's a terrific question for a Real Estate Attorney. No matter who responds, make sure and reach out to one for legal advice. It sounds like you may be in a pinch.

I hope this helps,

Rocky

Rocky G.H. Hawrysz
Prudential California Realty
(209) 444-6610 Direct
(209) 433-2000 Fax
rocky@prucalifornia.com
www.TeamHawrysz.com
License No. 01468373
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0 votes 12 answers Share Flag
Tue Jun 11, 2013
John Arendsen answered:
Wed Jun 29, 2016
Walter 'Skip' Kersten answered:
Same day or next day at the latest the money should be released by escrow company. How did you tell escrow you wanted the money. If they mail it, you might not get it for a few days. You may arrange to pick it up.
Good luck
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0 votes 9 answers Share Flag
Mon Jan 2, 2012
Ron Thomas answered:
Do you want to sell the House?

Or is this not your goal?

On new Offers, we are not using the traditional 17 day Contingency:
The way the Lenders are now working, we often cannot get a solid committment from them, and then, too often, they change their minds! And don't tell them that they cannot do that!

We are entering the Loan Contingency as "end of Escrow": It has become a fact of life.

So, back to the first question; Do you want to sell the house?

Merry Christmas
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0 votes 11 answers Share Flag
Thu Dec 15, 2011
Rudi Hofmann answered:
There is a good possibility that you may experience this or another delay of some sort with another buyer. Actually, there probably is no delay, you are just being concerned.

Fourteen days does not appear to me as unusual. They ordered an appraisal that cost them around $400. This has no value to them, unless it is for the purpose of purchasing your properly and receiving a loan. I would look at this as a further commitment to purchase your property.

The lender may also require a second appraisal or an appraisal review, which will take more time. Every time a underwriter sends out a loan condition or conditions, the borrower's file goes to the bottom of the pile and has to work itself up to the top again, before the underwriter will look at the file. Time is also money to the lender, and their employees work as fast and hard as humanly possible, while still being diligent.

I do not originate FHA loans. I do know that FHA requires an inspection. If they did not like the original inspection they may require the property to meet their standards, prior to issuing a loan. That may be the reason for the second inspection. Hardly anything goes fast and easy in this business anymore.

If you will be repurchasing a property and also require financing, you are at a good learning curve, at present, to know what to expect.

Happy Holidays, Rudi
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0 votes 7 answers Share Flag
Fri Nov 11, 2011
Aaron Lewis answered:
Mortgage fraud is providing untrue or misleading information, or failing to disclose material facts in information provided to a lender. If the lender relies on the inaccurate or incomplete information and makes a decision that it wouldn't have made had the true facts been known, then it would be fraud.

So, worst case scenario, yes it may be fraud. Not necessarily, but it might be. California Department of Real Estate would be one of the agencies that would have jurisdiction over that type of issue.

The other agency that would be very happy to look into that type of matter would be the County DA's office. I'm assuming the property is located in Stanislaus County? If so, our DA's office has a special division to investigate and prosecute mortgage lending and real estate fraud. You can fill out a complaint form at this website:

http://www.stanislaus-da.org/real-estate-fraud.shtm

I have personally heard presentations given to the real estate community in this area, and have heard them clearly state that any person who is aware of any potential real estate or mortgage fraud that fails to report it to the proper authorities may be held liable as an accessory to fraud if it was got prosecuted. So you should definitely report it! Besides: if it's wrong, then it's wrong, and if you don't like it then you should definitely do something about it.

Finally, some government-sponsored short sale programs include an incentive payment to the seller up to $3,000 (IF it's occupied by the seller..) that come from our hard-earned tax dollars. We have enough of a federal deficit already, the last thing I want is my tax dollars going to a fraudulent seller and real estate agent. So by all means--PLEASE REPORT IT!!

All the best,

Aaron Lewis, CDPE, CRS
REO Team Leader, Broker Assoc #01426717
The Lewis Team at Prudential California Realty

Serving the entire Central Valley of California
National Instructor, Certified Distressed Property Expert (CDPE) course
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0 votes 4 answers Share Flag
Thu Aug 4, 2011
Dan Tabit answered:
Jeff,
I'm not sure I understand everything that's gone on, but it sounds awful. Agents should not put self interest above a clients. Further, you have rights under the California Landlord Tenant act.
It's hard to say exactly where everything went wrong, but here are your options to get satisfaction.
Unless the agent owns the company, she has a broker. Start by contacting them. If they are no willing to listen and respond appropriately, you can go over their head to the franchise owner, the local MLS or the State Board of Licensing.
You can also discuss this in detail with an attorney. I'm sorry for your situation; I hope you get some resolution.
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0 votes 9 answers Share Flag
Mon May 20, 2013
Dp2 answered:
So many people are in denial. They might feel "sorry" for the other sellers, and assume that their situation is somehow different.
0 votes 4 answers Share Flag
Mon May 20, 2013
Eric J Soderlund answered:
Did you do this on your own? Either way you submitted a short sale approval package to your lender right? Part of the negotiation is to make sure that you were in or got approval for the sale to go through as a non-recourse loan. If not the lender can come after you for the amount forgiven as soon as you have any assets. Was this your primary residence? Are you insolvent? Give some more details via this forum or through my email and I will try to provide you with more info and a direction.

Best Regards,

Eric Soderlund.
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0 votes 5 answers Share Flag
Fri May 14, 2010
Dave Griswold/ Lisa Payne-Griswold answered:
5.5% is a very good deal. The best thing you can do is make an extra payment per year and you will pay off your loan sooner. If your loan is based on a 30yr loan then you would pay it off in 23 years.

Remember interest is a tax deduction. In addition remember to write in the memo of your check it's for princepal ONLY. Many banks will send you money each year because you paid on your princpal send it back.

All the Best
Dave & Lisa
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0 votes 2 answers Share Flag
Tue May 21, 2013
Ruth and Perry Mistry answered:
Good morning :

Start with 3 web sites such as:

www.Craigslist.com

www.rentometer.com

You should be able to find renters and get a good idea for the rent.

If you are thinking of doing a short sale, call your bank first or an agent who has done a
few. But 3 years is a short time to wait.

www.ruthandperry.com

Best Regards
Perry
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0 votes 11 answers Share Flag
Mon Aug 26, 2013
Joanna Jensen answered:
Hi Suzanne,
Have you tried to modify them. Banks do work on rental properties.
There are some times when you may even qualify for a principal reduction.
Depending on who your lender is, they may be willing to reduce your payment to the following:
first mortgage payment:
31% of gross income should include taxes insurance, principal and interest
if that is not low enough they may extend the term of the loan to 40 years.
Then and only then they may consider a principal reduction.
Rental properties can be done.
typically homeowners dont do the paperwork correctly.
I would advise that you call your lendinr andlet then now your having a very difficult time.

I am happy to help, You can call and ask questions.
JoAnna Jensen
925 699 5041
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0 votes 10 answers Share Flag
Wed Mar 17, 2010
Daniel Del Real answered:
Prices in the Johansen area are about $95-100/ sq ft. With the lack of inventory it looks like sellers are now pricing 10% higher than the average. Pool and spa maybe give a property $5,000 in value. Lot premium will also be very similar.


Daniel Del Real, CRS
h
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0 votes 1 answer Share Flag
Mon Feb 15, 2010
Robert Greenblatt answered:
Hi Veronica. Some short sales take many months, but this seems too long. Contact your mortgage companies directly and ask about the status of the short sale. It is common for you to be asked to fill out some paperwork, including a hardship letter, at the begining of the process. You can also try contacting the Agent's boss, the broker or manager of the real estate agency.

~Robert Greenblatt
Keller Williams
Cherry Hill, NJ
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0 votes 7 answers Share Flag
Mon May 20, 2013
Tean Wong answered:
In an ethical manner for both buyer and seller, the offer must be presented to seller through listing agent. In this case, the buyer is a real estate agent, and he should know better about ethical issue of this transaction. You can use your judgement and decide what you should do. ... more
0 votes 15 answers Share Flag
Sun Jun 7, 2009
Jessica Zepeda answered:
Hi Nettie209,
The property 1301 N. Rosemore Ave. last sold on 8/29/03 for $287,000. It has been pending since 4/27/09 at an asking price of $199,900. The sold price will not be known until the property has sold. Feel free to contact me if you have any other questions.

My Best,
Jessica Zepeda
jzepeda@coldwellbanker.com
... more
0 votes 1 answer Share Flag
Mon Sep 22, 2008
David Rivas answered:
Before you buy it make the offer subject to a structual inspection. Fires do not always destroy the strong parts of a home but if your not experienced in know what to do or hiring someone who does. Stay away from a place like this. However if you find someone who knows how to repair this at a decent price it may be a great deal???
Good luck
... more
0 votes 3 answers Share Flag
Sat Oct 20, 2007
The Hagley Group answered:
Tue Jan 15, 2008
Michael answered:
It truly is a great market to buy. With that being said - more info is needed to make a good decision.
0 votes 7 answers Share Flag
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