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Home Selling in San Francisco : Real Estate Advice

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Activity 157
Tue Nov 30, 2010
Jed Lane answered:
They would have to be subscribing to a service that feeds out the tax records. The tax records are a public document and there are a number of services that offer access for a fee. The data is usually a little old. You can't find out who boight and is moving in any faster than if you walked down the street and intorduced yourself.
The City & County hasn't moved into the 20th century yet and probably won't till we can get enough taxes in the kitty to pay for the access.
There is a "work in progress" at the CCSF Index of Records site but . . .
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Mon May 11, 2009
Jed Lane answered:
If the trust is "court approved" meaning that a court has to review the sale price then the buyer pays the transfer tax. In other types of trust sales, whether IAEA or trustee it is negotable. In all other sales in San Francisco it is customary for the seller to pay the transfer tax.
Your agent should know this.
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Tue May 5, 2009
Natasha Lovas answered:
It takes courage to post all of your financial details and I commend you for showing that courage. I don't think you will be in a position to buy a home right away, but over time that will change.

Based on your income, you would qualify. As to your credit, that will be a challenge that probably cannot be overcome at this time. The Mayor's Office doesn't care if you've had a bankruptcy, but a lender will. The most lenient lender right now is FHA, and you need to be out of bankruptcy for at least 1 full year before you can get an FHA loan. Out of bankruptcy means that your debts have been paid in full, i.e., you are no longer paying the $330 per month.

Keep making timely payments on your VISA and apply for 2 more credit cards over the next year or so (you need 3 lines of credit established for at least 2 years), and make regular payments on them.

Once you establish a track record of being able to handle your credit in a responble way, you will be on your way to buying your first home! Good luck in your endeavor!
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Sat Aug 15, 2009
Jed Lane answered:
Many questions come to mind to be able to give you the correct answer. Most important would be are the units legal? If the city has signed off on the creation of the rental units it can be more difficult to convert back to a SFH. Is the building vacant? What is the zoning? What's the condition of the units and what are the rents? If it isn't vacant, are there tenants with protected status?
After we determine the status of all that then I'd do market analysis on which product type would generate the most activity.
If it's vacant and zoned as a multifamily you might consider selling it as a TIC. Also in some cases we could offer it in multiple ways and let the eventual buyer decide what they want to do.
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0 votes 6 answers Share Flag
Sun May 3, 2009
Jason Chapin answered:
I would be happy to meet with you regarding your sale. I do think it's very strange that other Realtors don't call you back. Even if there were something particularly difficult or preventative I would hope that people would at least articulate that to you.

I'm available for consultation. Feel free to call or email.

Good luck!

Jason Chapin
McGuire Urban Bay
415-420-1143
jchapin@mcguire.com
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0 votes 9 answers Share Flag
Wed Apr 22, 2009
James Testa answered:
Hi Linetta,

I am happy to help you! I have a client who is looking for a home in the Excelsior and this may be a great match. Please feel free to contact me at your earliest convenience.

Warm regards,

James Testa, MBA

Paragon Real Estate Group
415.515.6097
jtesta@paragon-re.com
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0 votes 10 answers Share Flag
Thu Jul 16, 2009
Jeff Woo answered:
Its difficult to give you any concrete advice with the information you've provided, but most TIC agreements provide a remedy for breaches. Often, they require you to file a petition for Arbitration and may require mediation before that.

All TIC agreements waive the right of partition, or forced sale, for at least for defined period of time, if not permenantly. As such, a forced sale may not be a remedy you can pursue. You may be stuck with a law suit seeking diminution of value for the lost value of not completing the condo conversion.

If by "forced sale", you are referring to a potential foreclosure of the group loan, there will be no deficiency. Foreclosure would result in the lost of the entire property without a right of the lender to seek a deficiency.

On your last sentence, if you mean that you will somehow pay off the underlying debt to save the property, I suggest that you enter into an agreement with the defauling TIC partner to have a security interest in his TIC interest.

The only way to get clear advice is to have an attorney review the actual TIC agreement.

Jeff Woo, Esq.
415-627-3607
jeff.woo@mypropertyrights.com
Follow Me On Twitter @jefferywoo
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0 votes 3 answers Share Flag
Thu Dec 29, 2016
David Tapper answered:
I think the Realtor was just marketing themselves. In a nut shell,There are two different probates, one is with court confirmation, (which means it needs to go before a judge, and can also be over bid at the court house). The buyer cannot have any contingencies.
The other way is without court confirmation and no over bid.
Probates are like most sales except that there are no seller disclosures, and it's always sold AS-IS.

If you need more info, I would be happy to send it to you.

Regards,

Dave Tap Tapper
Realtor
Cashin Company
www.DavidTapper.com
Redt4u@aol.com
415-370-7195
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0 votes 19 answers Share Flag
Tue Mar 31, 2009
Jason Chapin answered:
Including Districts 2C, 2E, and 2F there have been roughly 82 properties listed since December 1, 2008. There were 29 closed sales, 5 withdrawn, 1 expired without re-listing. There are currently 31 active listings, 4 contingent listings and 12 pending. I didn't look at the 12 pending transactions to see when they were listed. If you look just at closed sale, then it seems that about 1/3 have sold - 35.36% - more accurately...

I don't mind including the Parkside figures, too, if you want them together.

Good luck, Jason

Jason Chapin
McGuire Urban Bay Inc
415-420-1143
jchapin@mcguire.com
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0 votes 3 answers Share Flag
Sun Mar 29, 2009
Rob Regan & Ciara Piron answered:
According to G3MH.com "For owner-occupied lottery bypass properties, the City prefers that the original owners continue to own and occupy the property until the conversion has been completed."

From the same site "conversion has been reduced to as little as 3 months" down from 6 to 12 months.

So it sounds like you should wait until you complete conversion, but you may be able to get it done a lot sooner than usual. The G3MH.com site is an excellent resource, as is andysirkin.com for TIC information. The above excerpts are from G3's "article" page and is the FAQ dated Feb 1st 2009.
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0 votes 2 answers Share Flag
Sat Jun 6, 2009
Rob Regan & Ciara Piron answered:
Michael - that's a tougher question and would require hours of research. There are 267 homes that "expired" or were "withdrawn" from the MLS in the past 3 months, and there are 614 listed for sale right now. But you'd have to go through each one and find the date they were listed, whether or not some of the "expired/withdrawns" are back on the market, and whether any have sold or are in contract. You'd also want to take out those on the market that recently came on.

So a simple way to attempt to answer this is that sales volume is off approximately 50% in the City. So you might extrapolate that only half the homes listed for sale actually sold 'if' you assume as many homes were listed this year as last year. All the more reason to hire a professional to make sure yours in one of the homes that sells.

May I suggest contacting one of the many good agents who have answered your questions directly, so that we can do specific research on your home and "your market"? I for one am confident I can pinpoint what your home would sell for, and give you a pretty good idea of how long it would take. You can also use my CMA site (below) to get a general idea, but a direct conversation with an agent you are interviewing as a possible candidate to sell your home will likely result in far better research into "your market".
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Wed Mar 25, 2009
David Tapper answered:
Hello Michael, to help you more, without giving you a generic answer, maybe you can provide a little bit more info. Like what area of the city do you live in?
The reason I ask this is because it makes a huge difference. Do you have a home in the Sunset district, or in Hunters Point?

Pricing your home correctly, and hiring an experienced agent with an excellent maketing plan also makes a huge difference. It could be the difference of 2 weeks to 3-4 months, or not selling at all.

Dave Tap Tapper
www.DavidTapper.com
Redt4u@aol.com
415-370-7195
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Tue Mar 17, 2009
Scott Pierce answered:
Call Ye Gong at 415-345-4347 at Guarantee Mortgage. She is a CPA and tax expert as well as a leading mortgage broker. She can give you a good answer.
0 votes 4 answers Share Flag
Mon Mar 16, 2009
Jed Lane answered:
Joan,

Are you really a Pro? If you are you must be from out of the area and I hope you client isn't reading Trulia. They will find out that you do not have the expertise to sell here and are therefore not fulfilling your fiduciary duty.
If you are a Realtor, contact the SF Association they can help you.
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Fri Feb 13, 2009
Bill Eckler answered:
A very nice gesture........................appreciated.
0 votes 1 answer Share Flag
Sun Apr 22, 2012
Fred Romano answered:
Sun Jan 4, 2009
Linda Slocum, CRS, CDPE | Santa Clarita Realtor answered:
By not removing all contingencies, the buyer's agent has effectively kept the contingency period open. This means that the buyers can likely still walk and be entitled to receive a refund of 100% of their deposit.

The buyer's agent appears to be playing games with you. Send the buyers a Notice to Perform, demanding that they provide a full contingency removal. Also send them a new Contingency Removal form for their signature, where you've checked off the box where the buyer removes all contingencies.

Good luck!
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0 votes 8 answers Share Flag
Tue Dec 30, 2008
Tony Abad answered:
Ken,

I would suggest an investment group. Take a look on line for some or check www.linkedin.com to network with others. Feel free to invite me if you get on there.

I hope this helps.
TA
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Mon Nov 10, 2008
Israel Elizalde asked:
Sun Mar 8, 2009
Shaban Shakoori answered:
Yes, you can do that, but a buyer will be concerned that the tenants may not vacate as anticipated. It would be better to get that buyout done first as a condition of closing. It all depends on the price you ask for the building and whether the tenant issue is factored fully into the price.

Shaban Shakoori
Broker/Attorney/Developer/Property Manager
Top 2%, TRI/Coldwell Banker, SF's #1 Office
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