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Buying or Selling a Home/Questions Answered by Expert Ray Beggs

Subject	Date Asked
Getting our money back out of escrow	12/18/2008
Q: We are in Southern California and are trying to buy a home. We found a house we thought would work ... A: Whew! Sounds like you didn't have a real good time with this and I'm sorry for all of the problems ...
Selling land that was owned by my deceased grandmother	12/21/2007
Q: My dad wants to sell some land that was owned by his deceased mother. She died about 10years ago and ... A: First off, I would get the land put into your Dad's name. You can do this very simply by going to a ...
Multiple offers	12/9/2007
Q: Can I (thru my agent) make simultaneous offers to let's say 3 different properties and if all 3 ... A: Technically you probably could but it's not very ethical. When you make an offer, you are basically ...
HOA rules	11/26/2007
Q: My husband and I are in the process of buying our first home and boy, has it been a nightmare!! We ... A: Well, I sure feel for you and what you've gone through and I can tell you that these situations are ...
Getting back earnest money	11/17/2007
Q: I am a 1st-time housebuyer who backed out of the deal after the inspection report showed many costly ... A: Arbitration here in California is approx $1000-$1500 and it's free to let the Department of Real ...
Selling my half	11/12/2007
Q: I co-own a house with a friend, a non-domestic situation. I want out of the deal, if someone is ... A: Yeah, you can do a "quit claim deed" to your current partner. That takes you off of the title, then ...
Selling my half	11/12/2007
Q: I co-own a house with a friend, a non-domestic situation. I want out of the deal, if someone is ... A: It is up to how you took title if you can sell your part or not. The bad news is that it would be ...
proceeds form sale of house	10/15/2007
Q: I and my 2 brothers are joint owners of a Santa Barbara, California house. I wish to give my portion ... A: You can talk to an escrow company now and ask them which is the best way to do this. It may be ...
Loss a sell due to a greedy RE broker. What to do?	9/25/2007
Q: My listing agent (who is also a real estate broker) failed to follow through on an offer that I had ... A: You can ask the real estate agent to let you out of the listing agreement and see if there is ...
House with remodeled bath & kitchen and windows changed with no permit	9/23/2007
Q: We are planning to buy this house which has had its windows changed and kitchen and bath remodeled ... A: (I like those initials!) I can't really tell you if you should go into the deal, but I can give you ...
Tenant forced out due to short sale/foreclosure?	9/12/2007
Q: I am a tenant 5 months in to an 18 month lease. We were sent a termination of lease paper (60 days ... A: First off, I'm not an attorney so I can't speak to the legal issues, but I can give you my opinion ...
Same Agent?	9/8/2007
Q: I want to sell my home and do not have an agent. I have a particular home in mind I would like to ... A: It doesn't really matter but if there is an agent that you find and you like them, then it might be ...
Water rights	9/1/2007
Q: Ray, We bought our property 19 years ago. The original owner allowed the two adjoining properties ... A: First off, I'm not an attorney and I would suggest that you talk to a local attorney because the ...
home contract cancelation	8/30/2007
Q: HAVE A QUESTION , I HAVE A SINGLE FAMILY HOME CONTRACT ON MY HAND AND EVERY THING HAS BEEN DONE AND ... A: The seller is only required to fix the items that he agreed to in a "request for repair" list from ...
BUYING A HOME - WAIVING CONDITION OF SALE OF CURRENT HOME	8/27/2007
Q: My brother and his wife recently purchased a home and waived the condition of selling of their home ... A: I know that it feels that his agent is the bad guy, but this almost always is not the case. The ...
Short Sales	8/26/2007
Q: There are a lot if short sales coming out in our area, and we think there will be a lot more, we ... A: The Department of Real Estate is the governing body for agents in California. That being said, on ...
Short Sales	8/25/2007
Q: There are a lot if short sales coming out in our area, and we think there will be a lot more, we ... A: When dealing with short sales and repo's, you're basically dealing in the world of speculative real ...
Renter agreement	8/11/2007
Q: I'm a first-time home buyer in california without a real estate agent. I found a home which I liked ... A: If the seller has (or had) a listing agreement with the agent, then there is a clause in there that ...
purchasing bank owned residence	8/6/2007
Q: I have recently found a home in California that I would like to make an offer on. The home is being ... A: There are good and bad things with buying a foreclosure (bank owned) property. One of the good ...
cancel contracts in PA	7/11/2007
Q: we are contracted to sell our home, and buy a newly constructed home, within 2 weeks, in PA. The ... A: Usually, I like to see problems fixed between the buyer and seller without having to utilize an ...
taking offers on home	5/25/2007
Q: My mom passed away in Jan. My siblings and I are selling her home ourselves. We have a disagreement ... A: Sorry to hear about your mothers passing. I'm going to be blunt. It doesn't matter who has seen the ...
Selling or keep it.....	5/5/2007
Q: my questions is should my husband and I keep our townhouse or take a short sale and sale it? We are ... A: First off, thank you to your and husband for serving in the armed forces. In my opinion, I would try ...
what is a window covering?	4/23/2007
Q: I recently purchased a home. In the contract my agent hand-wrote that "all window coverings" were ... A: Oh boy..sound like you're getting a little run around. This comes down to technicalities and ...
purchase agreement	4/21/2007
Q: The owners on the home we want to make an offer on want to stay in the house for a month or two. ... A: The closing date is the closing date. You're particular contract with the seller will determine how ...
Bad roof	4/12/2007
Q: What are the California statutes on selling a house with a roof that no insurance company will ... A: I'm sorry you're having trouble with this. I have a 25 year old wood shingle roof and I am insured ...
Bad roof	4/10/2007
Q: What are the California statutes on selling a house with a roof that no insurance company will ... A: First off, there are many variables that can make an insurance company not want to insure a ...
First time home buyer	4/10/2007
Q: I'm 23 years old and I'll be looking to buy my first house within the next two years. I've always ... A: Sometimes there are local (city or county) monies available for first time homebuyers. Check with a ...
for sale by owner	3/30/2007
Q: I'm selling my investment property to my brother do I need a realestate lawyer because it has a ... A: Yes, I would use and attorney (or escrow company) because of the title transfer. You want to make ...
sale or keep	3/20/2007
Q: my Q is little confusing but that how my wife and i do all day is talk about it and not know what to ... A: It's a tricky situation and one that I can tell you MANY people are in. If there is anyway to ...
Earnest money	2/28/2007
Q: We recently put a bid on a house and were accepted. We provided the earnest money two days ago. ... A: Is it legal? Yes. Is it ethical? Probably not. There's the problem. It may have been a rotten thing ...
purchase contract	2/12/2007
Q: I signed a contract to purchase a new home but did not give deposit. Can i back out? A: Tricky question. Typically though, if escrow is not open and the buyer has not given his deposit it ...
buying a house sight unseen	12/18/2006
Q: Since I am able to view houses for sale over the internet I am wondering if it is an acceptable idea ... A: I wouldn't recommend buying a house without seeing it first. Not only would it be difficult to make ...
Selling our home in a bad market	12/18/2006
Q: My husband and I moved out of our house last June, and listed with a 3% real estage agency. The ... A: I'm sorry to hear about all of the trouble you're having selling your home. I can tell you that ...
buying down points	11/3/2006
Q: In a nutshell, i'm in escrow on a second house. I'm doing the loan with Countywide. It's a stated ... A: It's comes down to simple math. If the amount of interest that you will save on the loan will be ...
deposit	11/2/2006
Q: I do have a follow up question regarding the deposit we put into the contract. We have put $150,000 ... A: I can understand how you could come to the decision to not buy a house with extensive termite ...
deposit	11/1/2006
Q: We signed an offer to buy a house in CA, but the house didn't pass the termite inspection. We want ... A: Houses don't really "pass" termite inspections. The termite report may have extensive repairs noted, ...
interest only loan	10/23/2006
Q: Looks like i'll be squeezing nickels to make this home purchase at $500,000 (approx.) I have my ... A: Well, you asked the $64,000 question...interest only vs. 30 year fixed. Personally, I like a 10 year ...
Transferring a house.	9/27/2006
Q: - Thanks for the question. The way it works is that your dad can quit claim his ownership in the ... A: Yeah, if something happens to the borrowerer, then the loan has to be paid by the estate or the home ...
Transferring a house.	9/27/2006
Q: My father is considering transfering our house to me, but we're rather concerned about how much say ... A: The way it works is that your dad can quit claim his ownership in the property to you, but he will ...
lease with option to purchase	9/15/2006
Q: Ray, I live in Northern CA. I own a parcel with 3 homes on it. Even though the market was changing ... A: That's a very good question. It sounds like something that would bolt me out of bed at 3:00am when I ...
lease with option to purchase	9/15/2006
Q: Ray, I live in Northern CA. I own a parcel with 3 homes on it. Even though the market was changing ... A: What is a Lease-Option? A lease-option is a combination real estate rental, sales and finance ...
Lien Follow-Up	9/13/2006
Q: So basically what you're saying is that you think the IRS has received payment for my lien when the ... A: Yes, you would return to the county where the property is located because that is where the IRS ...
Counseling and Assistance Agreement	8/25/2006
Q: I am with MLS and have up the commission I am willing to pay to 3%. I have seen little or no ... A: Yeah, I agree with the agents you have talked to. I would tend to let anyone who wasn't happy with ...
discounts?	8/25/2006
Q: how do i find real estate at deep discounts? how do i know when the listing is deeply discounted ... A: I have never heard of houses being sold at a 75% discount. They would never have to be discounted ...
Counseling and Assistance Agreement	8/23/2006
Q: I with currently listed for sale with "Help U Sell". My home has been listed with them for three ... A: I'm sorry that you're having so much trouble selling your home. Unfortunately, if you signed a 5 ...
Hi Regarding Financing	8/15/2006
Q: I am worried about how much I will be paying monthly. It sounds like it will be a lot since I will ... A: You do not have to pay mortgage insurance on the 20%. You only pay mortgage insurance on loans that ...
Hi Regarding Financing	8/15/2006
Q: I am looking to buy a home. I was wondering how the no money down system works. I really want to own ... A: It's actually a pretty easy process, when you have good credit. (Like you do) You would probably ...
Termination of purchase agreement	8/14/2006
Q: However, I would like your comments regarding this matter, given a little more details. Fact: I ... A: First off, I'll have to refer you to an attorney becasue this is outside of my scope and more of a ...
Termination of purchase agreement	8/14/2006
Q: What is the reasonable time for a purchase and sales agreement to be terminated, cancelled following ... A: In the case of a contract going past it's written close date, after the date is past, either party ...
Loans	8/7/2006
Q: Long story short, my wife & I have a property in FL that we desperately want. We are closing on our ... A: What you are looking for is a NINA loan. (No Income No Assets) Now, you'll need good credit for this ...
closing date in contract	8/6/2006
Q: we are selling our home.the buyer has signed the contract gotten a mortgage and left a decent ... A: Escrow's hardly ever close on time. Escrow close dates are like baby due dates...it's the only day ...
FSBO questions	8/3/2006
Q: My best friend is wanting to sell her house without an agent or a broker. We have a buyer who has ... A: What you're looking for is to have a real estate agent "write up" the deal for you. You would also ...
Buyin a home from a realitive	7/8/2006
Q: My uncle wants to sell me one of his rental houses. I currently live there and am very interested in ... A: You can be put on the title and then get a loan in your name only and then take your uncles name off ...
Contingency Offers	7/6/2006
Q: Ray, My husband and I were going to make a full offer on a townhome that we had viewed on the MLS ... A: "In California does the contingent offer have an expiration date should the buyer not sell his house ...
Apprasial	6/16/2006
Q: if a seller is asking 39000.00 for his house, and a third party independent appraiser said it was ... A: Not usually, unless you get a loan that allows for that. If it does, you'll pay extra interest rate ...
Unethical, Dishonest Broker Coerces Us into a No Win Situation	6/13/2006
Q: Unethical, Dishonest Broker Coerces Us into a No Win Situation The real estate problem that I’ve ... A: Did you sign a buyers agreement with him? If you did, then he will get his commission from any ...
Tenant Rights - Owner Selling Home	6/9/2006
Q: I have a lease for one year.I have signed a lease for a townhome in San Diego. I also have placed a ... A: Again, I'm not an expert on lease law, but I can give you a couple of avenues to pursue with an ...
Tenant Rights - Owner Selling Home	6/8/2006
Q: I have signed a lease for a townhome in San Diego. I also have placed a $1500 deposit down on the ... A: Wow, what a bummer. This is beyond my scope but I will tell you my opinion about what I would do. ...
Recently split partner considering buyout	5/16/2006
Q: My Ex-girlfriend and I jointly purchased an apartment in March 2004 and have recently split up. We ... A: Here's what I would do. I would have an appraisal or a comparative market analysis done on the ...
Retainer/deposit	5/9/2006
Q: I live in MA and looked at a home that we liked. We signed an offer to purchase - gave a $500.00 ... A: The answer is, probably not. The only way that you can get your deposit money back is if the escrow ...
shared equity or quit claim	5/8/2006
Q: i want to sell my home which is located in rialto ca.i owe 365, it is valued around 390, but with a ... A: My suggestion would be to put the home on the market at your rock bottom price and wait for a buyer. ...
selling a house...	4/19/2006
Q: My father died a few months ago. His house went to my sister. The house is in my name. She wants to ... A: First off, thanks for your question. I'm not a tax expert, but I can give you my opinion on the ...
Buying a New Home from Builder	4/18/2006
Q: My boyfriend and I are currently looking to purchase a new home directly from the builder. We saw a ... A: Congratulations on your decision to buy a new home. Welcome to the wonderful world of trying to get ...
Do you need a business to be paid commission on a real estate transaction?	4/15/2006
Q: I appreciate your time. This is a fairly simple question, however I've never been able to find the ... A: The answer unfortunately, is yes and no. As a broker licensed with the DRE, you can do business ...
real estate	4/13/2006
Q: I have been looking at houses in Texas, San antonio. Houses there are cheap! 3 to 4 bedrooms $ ... A: I'll do my best to answer them. First off, the low prices in San Antonio reflect a few things. ...
title insurance	4/7/2006
Q: Explain what exactly is title insurance and is it necessary for an all cash deal to buy my property ... A: That's a good question. Technically, I don't believe title insurance is required in California if ...
Housing business	4/6/2006
Q: Beggs: Thanks for your answers. So, anyway, spec homes are those built on a 'speculative' basis - ... A: Yes, I would say that in the context that you are refering, that "spec homes" are what we call ...
Housing business	4/6/2006
Q: 1. You develop or buy lots and build homes on them and sell them on a speculative basis - these ... A: I'll do my best to answer it. 1) Typically, if you buy lots and build homes on them to sell, you're ...

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Ray Beggs

Top Expert on this page

Expertise

I have been a licensed real estate agent for over 20 years in California. I am available to answer any question you may have regarding buying a home or selling a home. I can also answer questions about the loan process. (Purchasing or refinance)

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Real estate sales and financing.

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