Profile picture for Angela White

Angela White

Agent

Realtor (25 years experience)

8 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent,
Short-Sale,
Consulting

Advice

  • (13 Contributions,
  • 0 Best Answers,
  • 0 Helpful)

Contributions are sorted newest to oldest.

what a seller would most likely choose as an house offer

Answer

My questions to the buyer's agent are these: - do they have at least 10% reserves - if no - eliminated - my next question is - is this one loan or two loans. - if one - eliminated - is the buyers FICO score over 720 and pre-approved - if no, - eliminated - is the agent representing the buyer a qualified professional who is known as extremely competent and efficient, honest with the ability to problem solve - if no, eliminated.of those that are left, I would direct my seller to choose who he would like to work with.  Protection from fallout first - many times not the highest bid - its the most logical, strongest, tightest contract with the best representation. Afterall, it could be $3M and still not close.... who wins then?

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How do I get the zestimate corrected?

Answer

Unfortunately, getting accurate values can be tricky. The only truly accurate values are of the the recent closed sales. It is from those closed sales and the differences large to minute that help establish value. Since real estate is an ever changing by the moment moving target, Zillow is meant to give a broad picture.  If you are looking for more precise estimations you need qulaified experts that are out in the trenches every day.  On that note, was your addition done with permits? If not, then appraisers won't count it as additional sq.footage.  What does your title report/property profile say?  If I had your address I could confirm it. If the County doesn't have it right then you can change it through the county records in downtown San Jose, or even by phone. If there was no permit, thats another stickier situation.

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what can I do if my home is under water

Answer

There are many solutions to your problem. The first is to find out what the problem is and how it is affecting you and your family. Do you have access to extra money? Do you have a decent income? Is income the problem more than the moving need. Is the moving need more of a problem than the income. There are many many solutions to your problem but the best way to direct you in those options is to find out what your personal situation is.  I would be happy to do so.

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Divorcing, gunna have to figure out if to sell or what

Answer

Sorry for the distress to your situation.  Personally, I would make it part of the divorce. I would not be buying anyone out. Real Estate is fickle at the moment and you don't want to be tied down with unhappy memories when what you really want to do is start over fresh with your life.  The real question is do you want a joint investment with your ex spouse? and what if the ex- spouse feels its their turn to move in- with the new spouse and 6 year old. Since we are down to 2005 prices in most neighborhoods; I would have to know where you house is to determine that correctly; its like you haven't even lived there at all! I say sell, make it part of the whole divorce package. Anything negative can be explained away to a new lender in two years time and its easier to explain it all as part of the divorce rather than a true short sale and you wanting to get out from under the investment.  Also, where do you want to live? Focusing on that is far more fun for your life, than focussing on a joint investment with an ex.  And what conversations will you have  with your new life friends, "I still own my house as a joint investment with my ex". Just not liberating enough - still sounds like albatross material to me.  Just be thankful you are not at 2001 prices as some are... Need more information but for the most part - new life, no attachments - sounds like the better, healthier way to go.

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deposit money

Answer

First question I have is , are there agents involved here or is this a for sale by owner situation?  The order of the delay sets out the options.  If the delay was related to the lender not providing docs in time, or delivery of funds in time, then this is not the fault of the buyer.  It is not considered a breach of the contract if all parties are moving in the forward direction and portions were out of the control of the direct parties. This is why I guess loan docs being the issue here. The buyer's agent should have contacted the seller's agent and forwarned an extention would be needed due to lender's not processing documents fast enough.  It should have been resolved at that time, an exact time extention in writing. If that time comes and its evident that the loan docs are still not coming, you can give them notice to perform by a certain date or you will be charging them a per diem for your costs of the delay.  All in writing and non-confrontational.  This usually sets the appropriate fire under the appropriate person(s) responsible for getting those docs out.  You have to look at what you want out of the situation - if its better for you to be a little patient, and make leaving your house a more enjoyable experience and you can accomodate the extension, you may not want to draw guns at that initial point.  If you are truly going to suffer on a monetary level, then have your agent approach the buyers with the scenario and it has been my experience that once all the concerns are on the table, the two agents can figure out a viable solution that works for both.  Whether in involves money, or closing and maintaining possession, or that washer and dryer that was included is now no longer included.  Many different scenarios can come about where both parties are happy and leave with a good feeling on something they deserve to have a good feeling about. If this is a for sale by owner situation. Well, these kinds of transactions don't have happy endings for the most part.  Good luck.

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How long is my credit hurt for a short sale if that is the only mark against me on my credit report?

Answer

This is the golden question at the moment. A lot will depend upon how your short sale was managed and if you talked to a lawyer prior to selling your short sale or just went on the advise of a realtor.  We are seeing some interesting lawsuits surface that may cause a little banking chaos in the future.  We have been told 4 years by our banking associates. But banks change their guidelines often (over 365 guideline changes in 2009 alone).  The bank goes where the money is. Where the risk is lowest and they are pretty firm on that. If the future in 4 years still shows a lot of short sale occurances, banks are not going to be too pleased about giving you a loan. How was your short sale handled. How much did the bank have to suffer on loss, how did you handle your side of the short sale. Did you make payments up till the end, did you make no payments, extend the short sale intentionally, cooperatively or uncooperatively, did you save your money and buy something else, and THEN go for the short sale. These are all factors that may come back to haunt you down the road.  We just don't know. The only thing we do know now, is that lending is tight, the more you want the tighter it is, property values are static at best, there are still short sales, foreclosures happening and banks are trying to make up for their mistakes.  Chances are good that having a short sale on your credit report will require a much different lending environment than we have now, and no one knows how long its going to be this restrained. If considering a short sale you must talk to a real estate attorney before you sign any documents to sell your house. It is not a move without consequence, in any way shape or form. 

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new home buyer for home at T junction

Answer

Depends entirely upon which neighborhood and marketplace you are in.  It is quite possible you are purchasing this home at a  discount anyway since it is at that T junction.  If you are not purchasing it at a discount already then maybe there isn't a problem with that in that particular neighborhood.  There is no exact blanket answer. Market conditions of the neighborhood count. Ask yourself, do you love the house?, how long are you planning on being there? are you  intending on improving the interior in anyway?, what's inventory like in the area - all those questions you should be adding to your basic question to help you make the decision that is right for you.

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Changing Financing after Contract?

Answer

Correct in putting in writing your intentions so all can sign on it.  If you don't, and then something adversely affects your new loan that you can't close on time, or that loan falls apart for one reason or another, then your deposit will be at risk.  The Seller has the right to know what kind of loan you are trying to get and especially these days, the loan you were approved for.  If you change loans without informing in writing, with all signatures, and something happens it could cost you.Angela WhiteAlain Pinel Realtors

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How long does typically takes with a transaction if it involves bankruptcy court approval?

Answer

There is no typical time in this kind of transaction. It starts with where the people are in the bankruptcy process and what was the intent of the sellers in filing bankruptcy.  In this age of short sales, we find last minute moments where a seller will utilize short sale strategies as long as they can, then kick in bakruptcy strategies as long as they can.  Many factors here. You may not want to get involved in such a transaction when there are other houses out there, and more of a chance of successfully completing a sale and home ownership for you. Another case of needing much more information before I can give you the approximate timeline.Angela WhiteAlain Pinel Realtors Saratogaawhite@apr.com

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How long do i have to back out of a purchase contract on a new condo?

Answer

My best recommendation is take your contract to a realtor you trust, to help you review what is in the document, what timelines are imposed, and whether you truly have a bonafide contract in place.  Once that is determined, you will either be able to back out due to lack of performance on the Builder's side, lack of consideration (money as good faith), or several other options that only a proper review of the contract would reveal.  If you still want the home, but want the builder to perform faster, that would be a different question. Sounds like you don't have an accepted offer according to your brief question, therefore, you have no property. Angela WhiteAlain Pinel Realtors Saratogaawhite@apr.com

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