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Buying or Selling a Home/Questions Answered by Expert Diann Tonnesen

Subject	Date Asked
new home fees	2/8/2012
Q: I just had a question about the costs of upgrading to a new house when you outgrow your current one. ... A: Congratulations on the coming additions to your family! Are they on they way or are you just in the ...
Buying/Selling Home	10/20/2011
Q: I am hoping you can clear up a few questions I am having about buying/selling my home. First let me ... A: So many people have been "downsized" out of jobs lately, it is very sad. It happened to both my ...
Online real estate course, career question	8/5/2011
Q: I have been a SAHM for 9 years and prior to that, was in sales (telecom, business info/marketing ... A: I can tell by your message that you have a wonderful personality and would make a great agent! And I ...
Real Estate Companies?	8/4/2011
Q: How are you? I have 3 questions for you: Where would I go to apply for a loan to buy into a Real ... A: Susan, You will probably not be able to find much on the Internet about real estate businesses for ...
Real Estate Deals	7/20/2011
Q: I hope this email finds you well. Do you know of any free websites or pay sites that will allow me ... A: There are a number of free national sites that you can use to search for properties in any part of ...
Buying our first home	5/8/2011
Q: Me and my husband would like to buy a condo but is currently stuck in a lease until November of this ... A: Is this home located in California? If so, you will have to check with a local real estate agent to ...
short sale contract	4/19/2011
Q: We found a house that we really liked and put in an offer right away. The buyers accepted our offer. ... A: Short sales are no fun! They take a lot of patience, and you never know until you get a final bank ...
Condo Investment	3/30/2011
Q: What are your thoughts about purchasing a 40-year old $700k condominium located in a ... A: Purchasing real estate is all about location, location, location. You should definitely check with a ...
house	3/30/2011
Q: Great questions, Henry. It's entirely possible to use social security income to buy a home. If your ... A: Henry, you really need to talk to a lender so they can explain the process to you thoroughly. They ...
house	3/29/2011
Q: 1.Where do people get their money to buy a house, I have a college education already? 2. I could ... A: Great questions, Henry. It's entirely possible to use social security income to buy a home. If your ...
house	3/29/2011
Q: 1.Where do people get their money to buy a house, I have a college education already? 2. I could ... A: Henry. I am not sure where you came up with your figures for a monthly payment? The lender figures ...
house	3/27/2011
Q: 1.Where do people get their money to buy a house, I have a college education already? 2. I could ... A: Henry! As far as national mortgage programs, you will need to save up the basic down payment and ...
house	3/26/2011
Q: How do I get a house of my own? ANSWER: Hi Henry. Wow! That's a big question with a lot of pieces ... A: I need to understand the question a bit more. Do you mean you make $13,000 per year at your job? If ...
house	3/26/2011
Q: How do I get a house of my own? A: Wow! That's a big question with a lot of pieces to it, but the first step to home ownership is ...
offers	3/1/2011
Q: Should I advise the agent I choose that I can pay cash for a property up front or after the ... A: Mitch. Unfortunately there are no set guidelines to follow when making an offer on a foreclosure or ...
Selling a double wide home on an acre of land	2/28/2011
Q: My mother who is elderly lives with me and wants to sell her home located on an acre of land south ... A: Whether or not the loan is assumable depends entirely on how the original contract for sale was ...
offers	2/27/2011
Q: Should I advise the agent I choose that I can pay cash for a property up front or after the ... A: Hopefully you have interviewed a few agents and have chosen one that will represent your interests ...
Title company	2/26/2011
Q: we r buying a bank owned home. Closing is set for Monday. About 10 days ago, i asked a question to ... A: You really need to consult with a local real estate attorney to answer your question about whether ...
Deposit Refund	2/19/2011
Q: I am in the process of purchasing a home. I made a $3000 deposit that is in escrow. The seller has ... A: I am sorry you are having such troubles purchasing a home! Unfortunately no real estate agent can ...
buying a house	1/13/2011
Q: I want to own a Multi-Family house in the San Diego area. How does Mortgage work? ANSWER: Hi Henry, ... A: Unfortunately I can't answer this question for you as I don't have your brother's detailed financial ...
buying a house	1/13/2011
Q: I want to own a Multi-Family house in the San Diego area. How does Mortgage work? A: San Diego is a lovely area! Have you located a building already? As far as a mortgage goes, it ...
Vegas prices	1/6/2011
Q: Are prices of single family residences falling in Vegas these days, and what about over the next six ... A: Here are the latest statistics we have available on housing price trends as of the end of November ...
buy or keep renting?	12/20/2010
Q: So here is my dilemma. My husband stays home with our two young children while he works on his ... A: Sounds like you and your husband have a full schedule for the next few years! As far as purchasing a ...
Home under a LLC	12/11/2010
Q: I have a home here in Las Vegas and one in Texas. The home in Texan is a rental property and the one ... A: Whether or not you should form an LLC is a legal question and you would need to consult an attorney ...
rent to own	12/8/2010
Q: We bought a house in MD for $280,000 plus closing fee 5 years ago. We put a huge downpayment, so we ... A: It is hard to tell you whether or not you should sell your home at this time - not even the experts ...
What should a realtor do to sell a home?	10/23/2010
Q: I am not sure if I am expecting too much, or should be concerned our realtor is not doing enough. ... A: David, Since I now know that you have a property that is listed in our market, I unfortunately ...
What should a realtor do to sell a home?	10/23/2010
Q: I am not sure if I am expecting too much, or should be concerned our realtor is not doing enough. ... A: You mentioned that your home was priced competitively, but didn't mention what price you were listed ...
cancelling sale of home in Trust problem	9/27/2010
Q: if a house (which is in a trustin NYS) is signed to be sold and person (elderly mom who didn't know ... A: I wish I could advise you, but this is really an attorney question best answered by a law firm in ...
I'm current on my mortgage but I need to relocate to a nother city immediately	7/20/2010
Q: I am current on my mortgage, but I need to relocate to another state, and I want to get out of my ... A: whether or not the mortgage company will "take it back" is up to them and varies from region to ...
home real estate listing	6/2/2010
Q: I've had my home for sale on the market for over a year and I'm taking it off the market for about ... A: I definitely agree that you want a new fresh listing. Agents tend to ignore renewed listings, ...
Is now a good time to buy in Vegas	3/24/2010
Q: I want to know if now is a good time to buy in Vegas, or do you think prices will continue to fall. ... A: Of course you realize you are asking a Las Vegas real estate agent if now is a good time to buy in ...
New federal regulations for Condos?	1/26/2010
Q: ) I'm wondering if you could provide a little insight into the process the government uses to ... A: I take it that you are getting a government loan (either FHA or VA) for this condo? The HUD condo ...
Builder bankrupt	1/12/2010
Q: I am in a bad situation with the builder that I have a contract to buy a house with. We were ... A: I certainly feel for you and your family - what an ordeal. Instead of a dream home this has turned ...
rights under a contract	12/23/2009
Q: I am entering into a sales contract as the buyer of a property. The sellers have listed it with an ... A: I wish I could answer this for you, but you will have to check your state laws to see if you can ...
Short Sale and short fall	12/20/2009
Q: We have been approved by our lender to do a short sale and a buyer to buy our home but my question ... A: It is possible that your agent got a "verbal" okay from the bank's short sale negotiator and that ...
Short Sale and short fall	12/19/2009
Q: We have been approved by our lender to do a short sale and a buyer to buy our home but my question ... A: You will need to review the short sale paperwork and terms agreed to by your bank VERY carefully to ...
Mortgage pre-approval	11/30/2009
Q: If I am pre-approved for, say $250,000 loan for a home, but the home is bought for 200,000 can the ... A: Your loan amount will be based on the actual purchase price of the home, not on the pre-approval ...
My Mothers Estate	11/30/2009
Q: My mother died leaving no will. She had two homes. One was sold to pay her final medical expenses. ... A: It is entirely possible that your sister would be unable to qualify for a loan based on her credit ...
Property in Bankruptcy	11/13/2009
Q: Tonnesen, I need help resolving a scenario concerning a vacant property I am interested in ... A: If the property is not yet listed, the real estate agent probably does not even have the ...
Property in Bankruptcy	11/11/2009
Q: Tonnesen, I need help resolving a scenario concerning a vacant property I am interested in ... A: Georgia Peach! (I am assuming that is what gapeach stands for?) Is this property currently listed? ...
Short Sale Questions	11/6/2009
Q: I am hoping you can help me with some questions. We are currently trying to sell our house and we ... A: You have to look at not only properties that have sold, but also what the current competition is in ...
Short Sale Questions	11/6/2009
Q: I am hoping you can help me with some questions. We are currently trying to sell our house and we ... A: Tell you husband not to worry about pricing it at or even a bit below appraised value. You have ...
Short Sale Questions	11/6/2009
Q: I am hoping you can help me with some questions. We are currently trying to sell our house and we ... A: First of all, thank you to your family for your contribution to our country. It's not easy being in ...
Closing Question	9/28/2009
Q: I'd like to get your thoughts on the following issue: I am scheduled to close on a house this ... A: Actually, it is quite common nowadays that only the buyer and the buyer's agent are present at the ...
Closing Question	9/27/2009
Q: I'd like to get your thoughts on the following issue: I am scheduled to close on a house this ... A: Personally I agree that you should have all your questions answered before the closing. Have you ...
non heated/air conditioned room to be included in square footage??	9/25/2009
Q: In determining the square footage of a home: is an area that has no vents for heat or ac to be ... A: I don't know if your local statutes and building codes are different than the ones we have here in ...
what kind of help is out there to buy a home	9/21/2009
Q: where can i find out what kind of programs there are to help a low income family of six in buying a ... A: There are both local and national programs to help homebuyers. For local programs you should call ...
Selling a home with VA funding	9/18/2009
Q: I have a home which I obtained through first purchasing the non-performing note, and have recently ... A: VA does not have any restrictions like FHA does on financing after a foreclosure, so you should be ...
Earnest Money Deposit	9/11/2009
Q: . I was pre-approved for a FHA loan. I found a townhouse that I wanted to buy. I began the initial ... A: There is no agency I know of that you can report the seller to, unfortunately. It will depend on ...
Condos	9/2/2009
Q: I went online yesterday and began looking at the condo market in the Ken Caryl/Littleton area...of ... A: Rock and roll, indeed! They had a Woodstock Festival downtown on Fremont Street a couple of weeks ...
Condos	9/2/2009
Q: I went online yesterday and began looking at the condo market in the Ken Caryl/Littleton area...of ... A: 56 is a great age. :) I am also 56 so we can listen to music together and talk about the good old ...
hello	7/7/2009
Q: Diann, How are you? My name is Kenneth and I have some questions regarding las vegas real estate: ... A: We are telling everyone we are having a half price sale in Las Vegas! :) Yes, prices have come ...
Etiquette	6/29/2009
Q: I am a realtor, and my partner and I have a client who asks us to remove our shoes when at their ... A: If you know that your listing client does not want shoes worn in their home, I would get some of ...
Get out of House Buying Contract	6/21/2009
Q: I have a crazy question. I am buying a home through a builder who is building in another builder's ... A: This is not a crazy question at all. You have every right to be concerned about the neighborhood, ...
Buying and Renting Out A House	6/2/2009
Q: I am interested in buying a house (without selling my own), renovating it, and renting it out. How ... A: It is a great time to be buying in most parts of the country. And you can certainly own a home that ...
Home purchase - information not disclosed	5/11/2009
Q: I recently purchased a home last November (2008). There are holding tanks in my front yard to which ... A: You really need to look at your paperwork closely first to make sure that there was absolutely no ...
VA	4/14/2009
Q: The house next door is up for sale. I would like to purchase using my VA benefits. We are using an ... A: Unfortunately that is precisely the reason the lenders probably will not do a VA loan for you on ...
VA	4/12/2009
Q: The house next door is up for sale. I would like to purchase using my VA benefits. We are using an ... A: I'm afraid I don't have any good news or ideas for you. Since both VA and FHA loans are for owner ...
building a house	4/9/2009
Q: My wife and I have 6 acres of land that we own out right(land is valued at $75,000 We want to build ... A: I would definitely look in to getting a construction loan. There are very few lenders giving money ...
Will owners sue us?	4/9/2009
Q: Just over 2 weeks ago my husband and I put an offer in on a house. This is our 1st time purchasing a ... A: The answers to all your questions depends on what is actually in your contract. Most states have ...
Assumable Loans	3/10/2009
Q: I have a question...my husband and I are really wanting to get out of our house right now and ... A: There are really no such things as "assumable" loans anymore. FHA and VA loans used to be assumable ...
Mortgage loan	12/8/2008
Q: I wanted to ask if there is anyone that can get me a stated loan or stated income loan for a ... A: Unfortunately at this point there are no nationally recognized banks that I know of that are doing ...
Buying contingent to selling	9/11/2008
Q: We are selling our townhouse and bought a house. I’ve been married for 2 years and I am 27 years old ... A: The appraisers are really lowballing the appraisals these days. They are so afraid of losing their ...
VA loan	9/10/2008
Q: I purchased a home with my brother-in-law in Virginia a few years ago. He and my sister have moved ... A: I'm sorry, I misunderstood and thought that you were paying the money directly to your brother in ...
VA loan	9/8/2008
Q: I purchased a home with my brother-in-law in Virginia a few years ago. He and my sister have moved ... A: You are correct, you should actually have two official signed lease agreements to present to the VA ...
Selling a home to an FHA buyer	8/17/2008
Q: I would like to know if there is a quide for a home seller on getting your home into shape to pass ... A: There is no "guide" that I know of to get your home ready to pass an FHA inspection. Even the HUD ...
Buying a home way under appraised value	8/13/2008
Q: My wife and I own a townhome and are considering moving to a bigger townhome (we like ... A: Sounds like you might be getting a great deal on the town home! But if it is a short sale or ...
Foreclosure in Nevada	7/3/2008
Q: My house is to be auctioned in trustee sale 7/16/08 for 296,000 on the first and there is an IRS tax ... A: It sounds like the IRS is in first position in this situation, and if the lien was filed before the ...
selling my home	6/21/2008
Q: I currently am trying to sell my home ( property A). A couple years ago I sold it on contract. ... A: You can always sell a property prior to having it foreclosed upon! I am assuming that when you sold ...
Best to buy a new or older home?	6/6/2008
Q: My brother and I both plan to buy homes in the Las Vegas area next spring (I am also considering the ... A: Stephen, there are certainly pros and cons to each situation. How about I break down each one for ...
foreclosure home buying	4/11/2008
Q: I've come across a company offering ridiculously reduced mortgage payments on homes that are on the ... A: This definitely sounds like some sort of scam! Just the fact that no legitimate lender is offering ...
first time home buyer	3/3/2008
Q: My wife and I recently moved back to the east coast after a year living on the west coast.While we ... A: Sorry to hear you took a loss on your first home. That always stinks!! While you are not ...
Quick Sale	2/22/2008
Q: My home is up for quick sale. I received an offer which allows me 2 months move out time after ... A: Your bargaining power really depends on the buyer's motivation. The bank has drawn the line on what ...
first time home buyer	2/6/2008
Q: we found a house we would like to purchase. our real estate broker asked us for the good faith ... A: I am glad that you have obviously already read up enough to know the ramifications of an end of the ...
making an offer before I sell my house	12/26/2007
Q: We have found a house that we would like to make an offer on but the problem is that we just listed ... A: You can absolutely get pre approved for a new home loan contingent on selling your existing home. ...
Realtor Commission on the Sale of Realtor's Parents House	12/10/2007
Q: My mom and 3 step-brothers are selling my deceased grandparents home. There is a trust that says ... A: Usually when selling a home that is in a trust, a Realtor is hired to market the home and is ...
FHA loan and Co-borrower	11/26/2007
Q: My boyfriend is interested in purchasing a home for 150,000. It is well below it's appraisal value ... A: Without looking at a complete loan package, I can't say for sure that your boyfriend can get a loan ...
Mortgage with a Judgment in repayment	11/16/2007
Q: I have been approved for a loan by a bank, i've received my committment letter, had the inspection, ... A: I really wish they would stop calling them "commitment" letters! You can get a "commitment" letter ...
Commission	11/14/2007
Q: What is meant by the gross sale price of a purchase and sale contract? Example: If I agree to pay ... A: Gross sales price refers to the total sales price of the home before closing costs or concessions. ...
CHFA Loan (Connecticut FHA Loan)	11/6/2007
Q: I have a condo unit that's mortgaged with a CHFA loan. Under this loan the unit has to be owner ... A: Alan. Sorry to take so long to answer, but I actually went on my first vacation in over a year the ...
existing mortgage/construction loan	10/29/2007
Q: Our home is about 60 years old. It's in an older section of a small town that is being revitalized ... A: You will still owe the amount due on the original mortgage. But you may be able to get a ...
buying a double wide?	10/25/2007
Q: My husband and I are young first-time homebuyers. In our area there doesn't seem to be much on the ... A: Jennifer, I take it you have not yet looked into financing on the double wide? One thing to note is ...
Loan	9/22/2007
Q: How much income annually do I need to borrow a $300,000 loan? I want to own a home at $300,000 with ... A: the banks want to make sure you can afford your monthly housing payment and still have money left ...
Loan	9/22/2007
Q: How much income annually do I need to borrow a $300,000 loan? I want to own a home at $300,000 with ... A: In order to qualify for a $300,000 loan you will need approximately $90,000 in annual salary. On an ...
buying us property	9/4/2007
Q: We are planning on buying a modular home in Arizona on a lot in a park, it is an older property and ... A: Mandy, in order to answer this question, is this modular attached to the land and is it considered ...
Land Contract and property taxes	9/1/2007
Q: Diann- If I buy a property on a land contract is the property reassessed as far as property taxes ... A: Unfortunately I can't answer this question for sure as I don't know where you live, and your local ...
want to sell or rent our home	8/28/2007
Q: How do we sell or rent our home through section 8? A: In order to rent your home through Section 8, you need to become approved by your local HUD ...
Buying out of a home	8/27/2007
Q: Let me first start off by explaining my situation. My fiance' and I purchased our first home in ... A: Unfortunately you cannot get out of the contract on this home if your name is on the mortgage. (If ...
buying and flipping propert/ houses	8/15/2007
Q: I am currently refinancing my house. The market here in nc is low now. I have a VA Home loan I can ... A: Your VA loan eligibility can only be used on a personal residence, not on an investment property. VA ...
SELLING HOME	8/7/2007
Q: MY WIFE'S SON WANTS TO PURCHASE OUR HOME.WE LIVE IN OKLAHOMA.THE MORTGAGE COMPANY HE WANTS TO USE ... A: Sorry to take so long to answer your question, but I did not get the original email from All Experts ...
Best way to buy mom's home	7/25/2007
Q: My mom's health is poor and my husband and I want to buy her home, build an addition for her to live ... A: Do you have any idea of the cost of the addition and the remodel yet? If you buy your mom's home ...
Breaking a contract	7/9/2007
Q: I was pre-approved for a home mortgage loan. I found a house and signed a contract. I am due to ... A: I could not answer this question without knowing all the terms of your contract as there are several ...
question	7/5/2007
Q: .. quick question... Is it possible to buy or lease apartment building in San Francisco,ca and ... A: A tenancy in common property means you are not buying the entire property, but are only a part owner ...
question	7/3/2007
Q: .. quick question... Is it possible to buy or lease apartment building in San Francisco,ca and ... A: I really don't know where you could find an answer to this question online. You would need to call ...
question	7/3/2007
Q: .. quick question... Is it possible to buy or lease apartment building in San Francisco,ca and ... A: I would assume you could buy (but not lease) an apartment building and convert it to a hotel as long ...
selling my home on contract	6/29/2007
Q: I am the executor of an estate. There is a home in the estate to sell. There is a party that wants ... A: First you need to find out if what the party is offering you is a good value for the home. Contact a ...
buying a home disaster	6/27/2007
Q: It is under agreement, but it has been one thing after another with the owner. We do have an ... A: If you have a fully executed sales agreement (meaning signed and dated by all parties), you may be ...
FHA growing equity and graduated payment mortgages	6/20/2007
Q: We are buying a home this summer and will most likey get an FHA mortgage. I have some questions ... A: It is tough for me to answer interest rate questions as each lender has their own guidelines! Rates ...
FHA growing equity and graduated payment mortgages	6/20/2007
Q: We are buying a home this summer and will most likey get an FHA mortgage. I have some questions ... A: If you are going to have an increase in income in the future, an FHA graduated mortgage payment may ...
Buying a home with a contingency	6/20/2007
Q: I recently signed a contract and paid earnest money to purchase a home, contingent on me selling my ... A: This is where you need a straight answer from your agent as to the practice in your particular state ...
Overpriced house/Change Realtors?	5/31/2007
Q: My husband and I made the initial mistakes of 1.listing with a 3% realtor, who did nothing 2. ... A: Sharon, I can hear your frustration! It is doubly hard when there are not properties that are ...
Sell my home	5/14/2007
Q: In Feb. of this year I refinanced my manufactured home with 17 acres into my name only because my ... A: Wish I had better news for you. Unfortunately FHA loans are only assumable WITH qualifying at this ...
Placing a offer on a property	4/30/2007
Q: If I put a offer on a house (asking price) can the real estate agent wait until a second person puts ... A: I am not sure where you are and if local laws may be different. But in general real estate contracts ...
principal	4/21/2007
Q: How much of the principal to a home purchase must be repaid before you are allowed to sell it? I ... A: There are so many reasons for foreclosures. Most of the time there IS no profit for the owner, and ...
VA Loans vs Conventional	3/29/2007
Q: I am 27 and did 4 years in the United States Navy. I got out about a year and half ago, and since ... A: First of all, thank you so much for serving our country. And congratulations on your impending ...
disclosures	3/26/2007
Q: If you are selling a home "as is" are you still required to use a disclosures statement? Thanks, ... A: Yes, you are always required to use a disclosure statement, even if the home is being sold "as is, ...
Pre-construction Condos	2/28/2007
Q: I am planning on purchasing a pre-construction condo to live in myself and hold for around 3-5 ... A: How wonderful to have first choice of any unit in the building! That is a true first phase ...
question	11/13/2006
Q: Can I buy a home with no money down A: There are definitely a number of different no money down loans in today's marketplace. Your lender ...
Real Estate Contract	10/23/2006
Q: We put our house on the market 3 months ago with a real estate agent. We have a 6 month contract ... A: You are absolutely within your rights to withdraw your listing at any time from the market. You do ...
Seller Liability	10/17/2006
Q: Diann We live in Pennsylvania. My wife and I are thinking of selling our house. A couple we know ... A: There is no Federal law that says a seller is liable for something that goes wrong up to one year ...

All Questions in This Category

Diann Tonnesen

Top Expert on this page

Expertise

I have over 25 years of experience in real estate in Las Vegas. I can answer almost any specific question about buying or selling homes, condos, high rise properties or land in the State of Nevada as well as general real estate questions that pertain to the industry as a whole. I can also answer questions related to financing on FHA and VA loans, conventional loans, interest only loans, stated income loans, and hard money lending. You can also go to my site at http://www.greatlasvegashomes.com which has lots of information on it as well.

Experience

With my husband I have been helping families call Las Vegas home for over 23 years and I still love it! We developed a strong niche in the Internet industry and had to start a team of agents to respond to the large volume of calls we were getting. Currently we have 18 full time agents, a sales manager, two leads managers and two transaction coordinators assisting us. Last year we helped over 280 families and investors find property in Las Vegas.

Organizations
Las Vegas Board of Realtors and the National Association of Realtors

Publications
PR Web, Las Vegas Review Journal, and interviewed for numerous magazines as well as a broadcast interview for television by CNN.

Education/Credentials
college journalism major

Awards and Honors
Top agent in the state of Nevada for sales multiple years when working for Century 21 and last year one of the top 10 agents in the country with Prudential.

Past/Present Clients
Just too many great clients to mention here, but I can certainly provide a long list of references on request. Or check out our web sites at:

Las Vegas Real Estate
Las Vegas Condos
Henderson Real Estate
Las Vegas Golf Course Homes

Encyclopedia

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