Paying Off the Loan if the Owner Dies
Wednesday, 05 December 2012
Question: “My father passed away and left his house to me and my sister. She wants to move in and keep the house. But isn’t there some rule where you have to pay off the loan when the owner dies or moves out?” Answer: If available, you should read the loan documents and/or call the
- Published in Q&A - Home Financing Questions
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Your Bank May Lie to You About Your Short Sale
Tuesday, 04 December 2012
Question: “We’re behind on our mortgage and want to do a short sale, and our bank says we have to be current in order for them to approve it. That doesn’t sound right. What’s your take on this?” Answer: They’re lying to you! You’re talking with a department whose job it is to get you
- Published in Q&A - Home Selling Questions, Real Estate Tips, Short Sale
Buying a Foreclosed Duplex Directly from a Bank
Wednesday, 28 November 2012
Question: “I’d like to find and buy a foreclosed duplex directly from a bank. Any advice on how to do that?” Answer: Having sold close to 800 foreclosures for banks, I definitely know the answer to your question. If the property is owned by a major bank, they have a process they go through before
- Published in Q&A - Home Investing Questions, Real Estate Tips
How the 3.8% Obamacare Tax Impacts Your Sale
Tuesday, 27 November 2012
Question: “How does the new 3.8% Obamacare tax work if/when I sell my home?” Answer: This (very long!) answer is from the National Association of Realtors: Top 10 Things You Need to Know About the 3.8% Tax 1. When you add up all of your income from every possible source, and that total is less
- Published in Q&A - Home Selling Questions
Can You Do a 1031 Exchange on a Fix-and-Flip?
Wednesday, 21 November 2012
Question: “We just bought a fixer-upper house to fix and flip. The repair work is about done. We want to sell it and buy another and not lose a lot of $$ to the taxman. Can we do one of those 1031 exchanges so we don’t pay any taxes?” Answer: Two agents that worked for
- Published in Q&A - Home Investing Questions
Should You Get Your San Diego Home Staged?
Tuesday, 20 November 2012
Question: “Do you recommend getting a home staged before you sell?” Answer: I recently had a home for sale that was getting no action. But when the seller agreed to a small price adjustment and staged the home, we sold it immediately for full price. And I’ve had other clients sell their homes shortly after
- Published in Q&A - Home Selling Questions
Pre-qualifying, Pre-approval, and REAL Pre-approval
Wednesday, 14 November 2012
Question: “I just talked to a lender for about 10 minutes and I got pre-approved for a $550,000. That seemed a little too fast. I thought getting a loan was a little more complicated. Do you think I’m really approved? Answer: No, I don’t. You’re right to be dubious. There’s pre-qualifying, there’s pre-approval, and there’s
- Published in Q&A - Home Financing Questions