Amy's Blog
Lease to Own in the South Bay
It's not that commom but there are sellers out there that will consider a "lease option". In plain English, this is a property that you can rent with the option to buy. Now, you have to pay for the right to this option. Your offer should be structured in such a way...
Real Estate Advice: Am I Able to do an Inspection before I close?
Yes, you should have the option to do inspections before you close. In California, buyers typically have 17 days from acceptance to do their inspections. If within those 17 days, the buyers decide that they don't like what they find, then they can walk away. If the...
Real Estate Advice: how do we make our condo stand out to sell if there are others asking less $?
If you think your home has been upgraded or has somthing special that separates you from the rest than asking more money will be okay, but these attributes need to be apparent to the buyers. And if it's not apparent to you, then for sure it's not going to be apparent...
Real Estate Advice: When I sell my house can I be responsible for code deficiencies that existed before I purchased?
No, you will not necessarily be responsible for deficiencies in codes or permits. You should disclose everything you know about the problems or lack of permits. If you don't tell the buyer, then you could be liable for fraud. If you do disclose, then it will be up to...
Real Estate Advice: What can I do to close on time?
This is a great question. So often closings are delayed and although we can't control everything, there are definitely certain things a buyer can do that will help the process move forward as smoothly as possible. First, the loan itself can be a challenge. You have...
Real Estate Advice: Do I Make an Offer on an Overpriced Listing?
It never hurts to put an offer in. And you won't know unless you try. Yes, the sellers may be unrealistic and they probably have a strong emotional attachment to their home; the home does hold a lot of value to them. But the good news is that with an overpriced home,...
FHA Loans continue to get more expensive
FHA has just announced that their upfront and monthly premiums will be going up again. And for loans with less that 10% down, the borrower will have to pay mortgage insurance for the life of the loan. FHA is a great product for buyers who don't have a large down...
Real Estate Advice: Buying an Upleg
If both the homes are in nearby neighborhoods and you can find an agent who has a strong knowledge of both markets, then yes, you should absolutely use the same agent. Working with one agent will make it much easier to coordinate the process especially since you have...
Real Estate Advice: Backup Offer in a Short Sale
If the bank does not approve the contract, and submits a counter, and the buyer subsequently walks, then the seller will not necessarily have to relist the property. Once the current contract is canceled, the seller can accept the new offer and it will be submitted to...
Making an Offer on an REO
When making a decision on how much to offer there are several things to consider. 1. What are the comps? Have your agent (and it shouldn't be the listiing agent) pull the comparable sales in the area. Determine what you think the value of the property is. 2. Now that...
Real Estate Advice: Low Appraisal for Refinancing
You can always try again. It's just going to cost you each time you have to order an appraisal. When an appraiser is assigned you should make sure that this appraiser is familiar with the area. if the appraiser is from out-of-the-area, then you can request a different...
How Long Does it Take Banks to Respond to an Offer?
When it comes to REOs (or bank owned properties) the banks are much speedier than when responding in a short sale. The reason being, the bank is the actual seller in this situation and they have set the price themselves. REOs work much like standard sales with more...