| Subject | Date Asked |
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| Is a Real Estate Contract a Probate Item | 11/22/2009 |
Q: A Real Estate Contract was recently executed in the State of WA between a single man (Seller) and a ...
A: I think you're on the right track, but these things can get technical and it's a good idea to see an ...
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| Is a Real Estate Contract a Probate Item | 11/22/2009 |
Q: A Real Estate Contract was recently executed in the State of WA between a single man (Seller) and a ...
A: Anything not in trust will likely go through probate. You might ask the seller why he won't put the ...
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| Foreclosure Sale in condo; HOA owed money | 10/26/2009 |
Q: John, I am in an 18 unit condo with CCRs dating from 1978 when it was converted to condos from an ...
A: I recommend you speak with an attorney regarding your legal options. If you put a lien on the ...
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| Foreclosure Sale in condo; HOA owed money | 10/26/2009 |
Q: John, I am in an 18 unit condo with CCRs dating from 1978 when it was converted to condos from an ...
A: Pat, If your HOA fees do subordinate all mortgages, your claim may be against the escrow and/or ...
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| Discloser | 10/20/2009 |
Q: We are thinking of selling our home. We have a neighbor that we have been having problems with. He ...
A: It is frequently said - when in doubt, disclose. You are not required to disclose personality ...
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| Deposit refund or forfeiture | 10/7/2009 |
Q: My fiance & I put a $500 deposit made out to escrow to start the process of a possible purchase on a ...
A: I'm not licensed for mobile home sales, so I can't give you a useful opinion regarding your contract ...
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| ID requirement with lease | 9/28/2009 |
Q: After filling out a lease application and receiving a signed lease, the landlord sent me an email ...
A: Normally, if that was required for credit and background checks it should have been done before the ...
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| Title gift, 50% title transfer | 9/22/2009 |
Q: My parents own 3 properties; Primary residence, recreation home, and their former primary residence. ...
A: There are a lot of moving parts to your question, but the only answer I can provide is a ...
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| Foreclosure Offer | 9/17/2009 |
Q: We submitted an offer on an REO home three weeks ago. The listing agent wasn't returning our agents ...
A: Sorry to hear about you getting the run-around. Here are my comments: - Your agent needs to get ...
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| Seller not installing items as agreed | 9/14/2009 |
Q: I recently purchased a condo in a new development. As part of the purchase agreement I asked that a ...
A: Do you have the agreement in writing? In California, all agreements regarding real estate must be ...
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| Default on Heloc | 9/2/2009 |
Q: Our house is worth about $350,000. The 1st TD is $500,000 and the 2nd is $200,000. The home was ...
A: You can never tell what a HELOC note holder might do. I've seen many buy out the first deed holder ...
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| Contingencies | 8/23/2009 |
Q: The broker released the contingencies after the bank told him that my loan was ...
A: As a broker that often represents sellers, I usually don't ask for a pentalty payment if the buyer ...
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| California: adding spouse to title deed | 8/7/2009 |
Q: I recently refinanced. The broker had me remove my wife off title to refi for credit score reasons ...
A: I believe your loan broker may have given you bad info: you can take a spouse off the note without ...
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| Loan funding not available on closing date | 7/31/2009 |
Q: If my buyer's loan funding is not available on closing date, am I obligated to give him an ...
A: Why won't the buyer sign the cancellation? If they don't respond to phone calls and nice requests ...
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| countering a counteroffer | 7/30/2009 |
Q: We feel that we've been mislead into submitting a higher offer than necessary to secure a ...
A: A counter offer automatically supercedes any previous offer, therefore you can put anything you want ...
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| Listing Agreement | 7/27/2009 |
Q: I've signed a listing agreement to give the agent (who is also a broker) the exclusive right to sell ...
A: Most listing agreements don't have a termination clause. The listing agreement protects the ...
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| Loan funding not available on closing date | 7/23/2009 |
Q: If my buyer's loan funding is not available on closing date, am I obligated to give him an ...
A: Before you cancel, you need to have your agent submit a form that gives notice to the buyer that ...
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| General Adivse on Rental | 7/22/2009 |
Q: My situation is that I have 3brm investment rental property in Stockton, CA that I bought for ...
A: Vic, If the market value is $130k and the current balance on the mortgage is about $170k, you'll ...
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| late hoa disclosures | 7/20/2009 |
Q: After opening escrow, we received a buyers estimated closing statement to be signed and enclosed was ...
A: If you are ready to close, the issue is not how much time you have to read the disclosures, but that ...
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| Loan funding not available on closing date | 7/18/2009 |
Q: If my buyer's loan funding is not available on closing date, am I obligated to give him an ...
A: Diane, Your question has a lot of moving parts, but if you are looking for a way to get out of the ...
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| Contingency Removal and physically performing an appraisal | 7/16/2009 |
Q: We gave the buyer 17 days to do the inspection, appraisal, etc... After 17 days, we gave them a ...
A: There is no connection between the buyer doing the appraisal and you wanting to back out. Even if ...
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| offer expiration | 7/2/2009 |
Q: We made an offer on a house and the sellers came back with an "addendum" to our original offer-- ...
A: If your offer was made using a standard California Association of Realtors (CAR) form, Section 31 ...
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| Selling real estate if Caliornia | 6/29/2009 |
Q: As a licensed real estate agent in California, can one work directly from their own home, or must ...
A: Arleen, There are two answers to your1) If you hold a real estate salesperson license, you must work ...
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| Adding names to an existing property - Advantages/Disadvantages | 6/21/2009 |
Q: My wife and I have been talking with our in-laws about moving our two families in together in their ...
A: You've got a lot of moving parts in what you want to do, and there could be some problems. I ...
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| HELOC Foreclosure | 6/11/2009 |
Q: I know that you stated in another persons question that a HELOC is a secured loan. The collection ...
A: I can't give you a specific answer without seeing the actual line of credit agreement, deed of ...
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| Adding my girlfriend's name to home title | 6/9/2009 |
Q: I bought a home with just my name on the mortgage and title. I would like to add my girlfriend's ...
A: Yes, you can gift any percentage of the value to your girlfriend and a title company can prepare and ...
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| Renting question in regards to pet deposit | 5/27/2009 |
Q: We have a roommate moving out of our place in July. We informed our management company that we will ...
A: I'd ask the management company to quote specifically where in the law it says they have 3 months. ...
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| Escrow rules and backing out | 5/26/2009 |
Q: We were advised by our realtor to make multiple offers on three condos in a mountain resort. If ...
A: Generally, yes. I don't usually recommend making multiple offers, but in some markets it may be the ...
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| tenants in common | 5/25/2009 |
Q: we want to help our daughter and her husband purchase a property. we are thinking they would put ...
A: The most common approach to helping children buy a home is to make a cash gift to them for the down ...
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| Failure to disclose? | 5/22/2009 |
Q: I just closed escrow on a condo in Woodland Hills. Now I'm informed by the management company that ...
A: CC&Rs seldom address security or other operating procedures that the management company will ...
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| Buyer commission credit | 5/21/2009 |
Q: I have had a customer wanting to negotiate my buyers agent commission to get a portion back. Example ...
A: Jon, If you are working for a broker, please check with him/her before you agree to anything with ...
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| rental breach of contract | 5/21/2009 |
Q: Last week i signed a one year rental contract through a rental property management company. We were ...
A: Any expenses or losses need to documented. If you intend to seek legal action, your lawyer will ...
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| rental breach of contract | 5/21/2009 |
Q: Last week i signed a one year rental contract through a rental property management company. We were ...
A: Depending upon how the rental contract was written, either the management company or the owner could ...
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| impounding/ assessment inspection? | 5/17/2009 |
Q: We have just refinanced our house in Shadow Hills, California (Los Angeles area) and are planning to ...
A: You should be able to use the most recent tax statement that you already received to satisfy the ...
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| Empty house use, tax code change | 5/13/2009 |
Q: My parents have two houses, one in the San Francisco Bay Area where my mom lives, and one in Arcata ...
A: I believe your question is whether or not, from a tax point of view, it would be better to convert ...
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| tax assesment | 5/7/2009 |
Q: I have had two people tell me two different things. One said that they automatically adjust the ...
A: Normally a county adjusts the assessed value to the most recent sales value, unless they do a ...
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| Buyer not cooperating with escrow cancellation | 5/5/2009 |
Q: I live in southern California. My foreclosure is June 6, and we had do cancel escrow with the first ...
A: Sorry to take so long to get back to you. I recommend you consult an attorney to see if you can ...
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| Buyer not cooperating with escrow cancellation | 5/5/2009 |
Q: I live in southern California. My foreclosure is June 6, and we had do cancel escrow with the first ...
A: As a matter of process, I can't understand why anyone would put a deposit down and open escrow on a ...
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| Your Answers in the Probate Area | 5/5/2009 |
Q: You need to be much more careful when you are answering questions on this forum. You appear to be ...
A: As you can see, I do not give legal or tax advice, I provide reasons why the person asking a ...
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| Indiscriminate citing of code violations | 4/30/2009 |
Q: A city in California has begun issuing code violations to the homeowners in the oldest section of ...
A: Jennifer, Cities typically issue citations in older parts of town because that's where the ...
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| Cancellation after 17d contingency | 4/28/2009 |
Q: I was in escrow as a buyer. I was informed by my mortgage broker a few days before closing that he ...
A: I'm not a laywer, so I won't give you legal advice, but as an expert in real estate transactions I ...
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| who pays for deck maint? | 4/24/2009 |
Q: We live in San Francisco, CA in a 3 unit building that we own with two other parties in a TIC. We ...
A: Why argue at all? You could just say no to paying for the balcony repairs and leave it at that, ...
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| who pays for deck maint? | 4/24/2009 |
Q: We live in San Francisco, CA in a 3 unit building that we own with two other parties in a TIC. We ...
A: If you are in the process of converting to condos, your new CC&Rs should describe which areas are ...
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| property management fraud | 4/24/2009 |
Q: What do I do as a landlord with a property manager who has refused to turn over the rents for ...
A: Julia, I'm not sure about the legalities of Section 8 rents, but I do know that I would fire ...
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| Breaking a lease | 4/24/2009 |
Q: I rented a place and shortly after I moved in realized that the neighborhood was unsafe. Police ...
A: Herschel, I can't give you a legal opinion regarding your options for getting your deposit back, for ...
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| hold/pending status | 4/22/2009 |
Q: My boyfriend and I have been looking at homes to purchase and had one in mind but wanted to see ...
A: The only thing that really matters is whether or not your offer is shown to the seller. Normally a ...
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| hold/pending status | 4/22/2009 |
Q: My boyfriend and I have been looking at homes to purchase and had one in mind but wanted to see ...
A: Unfortunately, it is not uncommon for agents to hold aside a property that they have listed for one ...
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| Costs of home ownership?? | 4/7/2009 |
Q: I have lived in apartments and condos all my life, but am now in the position of buying a house with ...
A: I recommend you approach the answer to your question as a budgeting exercise. There are two types ...
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| Property Management Licensing in Calif | 4/7/2009 |
Q: Do individuals managing another's properties with a power of attorney require a license in ...
A: In general, anyone who performs real estate services for another person for a fee (manage, sell, ...
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| non-participation by home co-owner | 4/3/2009 |
Q: My brothers and I inherited property from our father's estate in 1988. There are two homes on the ...
A: Sorry to hear about your problem. When someone is on title and fails to cooperate with maintaining ...
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| Defiency judgements on junior liens, Purchase Money, Not Judicial | 3/17/2009 |
Q: Can a lender go after deficiency judgements on junior liens, purchase money loan?
A: I'm not sure what you mean by "go after." If you mean, "can a second mortgage lender foreclose on a ...
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| House listed as active when in escrow | 3/17/2009 |
Q: We have been trying to get a loan for a house, but the deadline to close escrow passed. We have not ...
A: I don't mean to be picky, but I want to clarify the proper terms for the agents. The listing agent ...
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| Do we have to pay Calif taxes on our vacation home if our primary home is in Washington STate? | 3/12/2009 |
Q: I guess the subject line describes my question. We have a condo in desert; we would like to lease ...
A: Bob, Yes, you will have to pay state income tax on the net income earned in California (but not on ...
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| earnest money | 3/9/2009 |
Q: The purchase agreement did not go through because I was not able to receive an acceptable loan ...
A: Yes, you should be able to cancel the contract if you were unable to clear a contingency. Your ...
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| buying/renting in Los angeles | 3/7/2009 |
Q: I'm looking to move to LA to either rent of buy something cheap and keep finding really cheap offers ...
A: I looked at the listing and couldn't tell what is being offered based on the information given ...
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| Transfer of ownership | 3/3/2009 |
Q: My grandmother was recently addmitted to a convalecant hospital for reasons of dementia and will ...
A: Craig, Once an entity (the state) is on title for a property, the only way you can get them off is ...
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| realstate/ repairs/after "remove a contingencies signed by buyer' | 3/3/2009 |
Q: I am selling a four unit apartment complex. Escrow set to close by end of March 2009. Contingency ...
A: Jay, In general, if the building has tenants you have no choice but to bring it up to code in terms ...
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| HOA not included in short sale | 3/2/2009 |
Q: I did a short sale on my home in 5/08. I now received a collection notice from the HOA, stating my ...
A: Laura, It appears escrow may have dropped the ball if annual HOA dues were not split between the ...
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| HOA not included in short sale | 3/2/2009 |
Q: I did a short sale on my home in 5/08. I now received a collection notice from the HOA, stating my ...
A: Laura, When you did the short sale, were you the seller or was the bank the seller? If you were the ...
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| Splitting 20 acres | 2/28/2009 |
Q: My parents have 20 acres in Sacramento county,CA. They would like to split this property into 5 acre ...
A: Mike - Your biggest hurdle may be to split the property. If it's zoned for agricultural use, ...
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| real estate | 2/26/2009 |
Q: I am a licensed real estate broker and I am looking at buying a home for myself. Can I represent ...
A: Jon, Some sellers don't like to pay the commission, but if you are licensed you should be able to ...
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| house prices in LA | 2/26/2009 |
Q: sorry if this is a bit of a stupid question. I'm planning on moving to Los Angeles to become a ...
A: Today's market has made several types of unusual sales more common than they used to be. The most ...
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| multiple ownership issue | 2/24/2009 |
Q: This is a follow up to the posting at: ...
A: Jamie - The answer may depend upon the relationship you have with the sibling who wants out. If ...
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| wamu heloc | 2/22/2009 |
Q: I don't know how it works. Does (did) Wamu keep the loan "in house" or did they possibly sell it on ...
A: You can probably get your question answered by calling the 800 number on your most recent statement. ...
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| What Makes You Believe You're Competent to Give Legal Advice???? | 2/21/2009 |
Q: I've seen some of the answers you've posted where you're giving legal advice. You clearly do not ...
A: Please note that in my responses I provide reasons why the person asking the question should see a ...
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| HELOC | 2/18/2009 |
Q: John, I am looking for a bank who will give me a HELOC on my investment property in California. I ...
A: I don't follow the HELOC lenders very much anymore, but I do know that opening a credit line to use ...
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| joint tenency to avoid probate | 2/14/2009 |
Q: john, my father is a single man and a homeowner. i want him to add my name to the title/deed. i ...
A: Billy, Unless the property is in a trust, the property will go into probate when he dies and the ...
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| Is the Heloc considered unsecured | 2/7/2009 |
Q: Is the HELOC considered an unsecured second TD by the fact that there is no equity after the first ...
A: Diane, HELOCs are secured loans, as stated in the deed of trust you signed when you borrowed the ...
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| is a purchase-money heloc also non-recourse | 2/4/2009 |
Q: I bought my house in 2005 with a 10% cash down payment, a 10% HELOC from Chase and an 80% 1st loan ...
A: Greg, Usually the 2nd lien holder is out of luck when the 1st lien holder takes the property. I can ...
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| Fiance buying condo in Califoria | 1/31/2009 |
Q: My fiance is buying a condo for us and I have no job, so I am not on the loan to help at all. We are ...
A: Renee, Congratulations on your upcoming wedding. Neither of your names should be on title for the ...
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| Initial Deposit | 1/27/2009 |
Q: I placed an Initial deposit in escrow to purchase a bank owned. Unfortunately I was informed that I ...
A: Frank, You need to check your purchase offer. The standard purchase offer form, which unfortunately ...
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| house sale | 1/17/2009 |
Q: i am currently leaving with my mom. and the house is under my mom and and my name. my mom is the ...
A: Abe, Most residential (home) mortgages are non-recourse, meaning the bank can only take the property ...
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| Deadline for a deposit refund | 1/9/2009 |
Q: I was wondering what the deadline is for suing my landlord for a "deposit refund." It's been almost ...
A: In California, the landlord has three weeks from the move out date to return your deposit or provide ...
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| Disclosures | 1/7/2009 |
Q: I realize you specialize in real estate investment but since you are located in CA I thought you ...
A: Sorry to hear about your problem with the house, but undisclosed problems are common. My ...
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| becoming a real estate agent | 1/4/2009 |
Q: Souerbry, I'm a student and I'm working on a project for my Careers course. I was hoping you could ...
A: The practice of real estate has 4 main applications: - residential real estate - commercial real ...
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| Property Tax Impounds | 12/18/2008 |
Q: I'm purchasing a bank owned property and the Loan Officer is out of estate. He is calculating my ...
A: You are correct, average property taxes are about 1.25%. However, the process of assessing first ...
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| Sales by Realtor? | 12/18/2008 |
Q: Are sales by a licensed Ca. realtor either recent or otherwise of public record and if so where ...
A: I don't know of any public database that allows searches of sales by agent name. Most Realtor ...
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| where will it say recourse or nonrecourse | 12/11/2008 |
Q: I read an earlier Q&A about the refi and if it says recourse or non recourse. Will it say ...
A: The wording will be different depending on if the property is a residential property (condo, house, ...
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| HELOC as Purchase Money | 11/26/2008 |
Q: and thanks in advance for responding. My sitrep is this: I bought a $600k home in California with ...
A: John, In reality, you're gonna have problems either way. But I hope this will help you. Usually ...
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| Agent proceedure on a rental property | 11/23/2008 |
Q: I was hoping you could help me with a rental property question. My agent has found a renter for my ...
A: Alisa - Beware, these agents are either crooks or idiots! (Maybe both) Everyone with any brains ...
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| Multiple Owners | 11/21/2008 |
Q: My grandmother passed away 4 years ago and left her home to 3 of her 4 children, my mother and her 2 ...
A: Geoff - A judge could force a sale for a number of reasons. If you know the reason why your sibling ...
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| Multiple Owners | 11/20/2008 |
Q: My grandmother passed away 4 years ago and left her home to 3 of her 4 children, my mother and her 2 ...
A: Geoff - All your questions depend on how title is held. If you each hold title as "joint tenants", ...
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| Standard clauses in a rental/lease agreement | 11/20/2008 |
Q: We are about to rent a furnished, utilities included, vacation rental in Napa for three months. ...
A: There are no requirements that landlords carry insurance, although most mortgage companies require ...
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| Adding someone to the title in California | 11/18/2008 |
Q: My son and his fiancee just bought a house in Northern Calif. I co-signed the loan to help them ...
A: Gifting is probably unnecessary for your situation. Your son's fiancee should achieve community ...
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| Property Insurance needs for Rental in California | 11/18/2008 |
Q: My mom (81) has retired out of state, and is renting out her house in California. She's terrible ...
A: Gary, Considering that one liability lawsuit could wipe out all your mom's assets, I believe it's ...
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| HELOCs in California | 11/15/2008 |
Q: I have a question regarding home equity line of credits in CA. I bought a house financed 80/20 by a ...
A: Carol - Hmmmmm... very curious. Something sounds extremely fishy. When did you buy the home? Yes, ...
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| Calif Real Estate sellers contract | 11/4/2008 |
Q: Our home was listed with an agent for 4 months. The contract eventually expired and we did not hear ...
A: I'll try to answer your questions one at a time: - Cancellation - you shouldn't need to sign a ...
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| Auction buyers fees | 10/30/2008 |
Q: I purchased a rental home at an auction for $300,000 and paid a $15,000 buyer's fee. The previous ...
A: Normally expenses aren't included in the value, but local assossors may fix whatever value they want ...
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| Fines on Condo Unit | 10/29/2008 |
Q: My question is: Can the HOA Board attach a fine to the owners along with their monthly fee? For ...
A: Michelle, First, do you know what the fine is for and do you want to fight it? In general, you are ...
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| builder bring forward closing date | 10/22/2008 |
Q: On my new house contract, closing date is :within 9 months since signature date. builder suddenly ...
A: Why do first and second release properties have to be sold before yours, does it say so in your ...
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| builder bring forward closing date | 10/22/2008 |
Q: On my new house contract, closing date is :within 9 months since signature date. builder suddenly ...
A: Legally, all real estate transactions must be in writing, verbal agreements don't count. You can ...
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| Recovering inspection fees | 10/21/2008 |
Q: My client was in contract to purchase a property for $195,000. He paid around $4,500 to inspect the ...
A: You have good cause to recover the inspection fee because the seller's broker didn't do proper ...
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| can I buy a second house? | 10/19/2008 |
Q: we bought a townhouse 5 years ago for 275k and our loan on this home today is about 220k. We are ...
A: It's hard for me to answer your questions because I don't have all the information I would normally ...
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| My 84yr old neighbor is being evicted from her home. HELP! | 10/17/2008 |
Q: Basically in short, her step-son is taking the house from her because her name is not credited to ...
A: Heather, I'm sorry, but your neighbor needs to hire an attorney to help her. Did her husband leave ...
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| Granting Easements | 9/29/2008 |
Q: I have a 7.5 acre parcel in San Diego county. I farm avocados on 7 acres and there is a house on ...
A: You have a few ways you can go: - Split the lot and include a driveway on each new parcel - Grant an ...
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| Contract of Sale; Agreement of Sale | 9/28/2008 |
Q: I am working with a seller who has a mortgage balance of $688,000 and her asking price for her home ...
A: In California you can't have a mortgage loan unless you are on title to the property secured by the ...
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| commercial real estate purchase agreement | 9/26/2008 |
Q: Is there a specific contract needed to make an offer on commercial real estate in California that is ...
A: Yes, commercial and residential purchase agreements are substantially different, as are the ...
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| Foreclosure* | 9/22/2008 |
Q: I have a 1st & a 2nd with the same lender, my st is going into foreclosure, can the 2nd obtin a ...
A: Lenders that hold both the 1st and 2nd mortgage typically foreclose based upon the 1st mortgage, ...
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| Foreclosure* | 9/22/2008 |
Q: I have a 1st & a 2nd with the same lender, my st is going into foreclosure, can the 2nd obtin a ...
A: If both loans are from the same lender, that lender has to foreclose only once on either loan to ...
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| Adding Name to title and mortgage | 9/8/2008 |
Q: my mom lives in san diego....i want to be added to the title of her home and mortgage in an effort ...
A: Bernie - I recommend you talk to your tax person before going forward with this. The mechanics are ...
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| Reverse Mortgage extention letter | 9/1/2008 |
Q: I inherited a home that has a reverse mortgage loan of $50,000 the bank gave me until the end of the ...
A: There is no standard letter to request an extension, the letter must be based on the reason you have ...
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| Dual Escrow | 8/27/2008 |
Q: I am the buyer in escrow and have cancelled before removing contingencies. The seller is trying to ...
A: Rachel, Did you cancel within the cancellation period? In most contracts you have to remove ...
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| Short Sales Tax Ramifications | 8/27/2008 |
Q: We are close to closing on our short sale. The property is in San Diego. Our agent says that once ...
A: Kris, Either the 1st or 2nd mortgage holder can file for foreclosure. Most of the time the 1st ...
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| Short Sales Tax Ramifications | 8/25/2008 |
Q: We are close to closing on our short sale. The property is in San Diego. Our agent says that once ...
A: I will answer your question in 2 parts. Part 1: Ask your tax professional this question and go with ...
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| Short sell | 7/31/2008 |
Q: I need your help. I sighed an purchase agreement and gave a check to my agent in a hurry 10 days ...
A: You're still in control of your deal, so don't worry. Here are answers to your specific questions: ...
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