Can Loan Buyers Compete with Cash Buyers?

Question: “I keep hearing about homes selling with people paying all cash and not getting a loan.  Is it possible to buy a home if I need to get a loan and still compete with cash buyers?  And why are there so many cash buyers?” Answer: Bad news / good news if you need to
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Pest Control Clearance Approval

Question: “I’m selling a townhouse.  My agent is a friend, but he’s new and inexperienced, so I’d like your opinion.  We accepted an offer and the buyer’s lender insists that it be tented.  The homeowner’s association pays for that, but it’s taking a long time to get their approval, let alone get it scheduled and
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Don’t Use Open Houses to Find Your Home Value

Question: “Hi Gary.  I’m not ready to sell yet, but what do you think about going to open houses to get an idea of what my home is worth?” Answer: Let me tell you a story… There’s a Bay Park home that had been on and off the market for years, usually listed 20-50% over
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Are San Diego Short Sales & Foreclosures Gone?

Question: “I rarely see any foreclosures or short sales any more.  Are they pretty much gone?” Answer: Almost. After the tsunami of foreclosures, the flood of short sales, and the wave of loan modifications, most people in trouble on their homes either lost them or got in a position to keep them. Throw in our
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Getting a Reverse Mortgage

Question: “My wife and I are almost 70.  We don’t want to move for 1-2 years, but we saw a one-story home in Oregon that we’d like to buy now and move to later.  What do you think of getting a reverse mortgage to get the cash to buy that home?” Answer: Reverse mortgages can
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Don’t Use Others’ List Price to Get Your Home Value

Question: “Can you compare this listing at [address removed] to our house? It has no garage and is not remodeled like ours, but it’s listed at $725,000. Based on this, don’t you think our home is worth more than $800,000?” Answer: I’d say your house is worth more than the one you referenced. However, as
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So Your Offer Was Accepted—Or Was It?

Question: “The seller’s agent texted my agent that our offer on a home was accepted, but now they say they sold the home to someone else.  Is that legal?” Answer: For a real estate contract to be accepted and binding, there must be: A written offer Written acceptance Delivery of written acceptance to the party
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Limits on 1031 Exchange

Question: “We just bought a house to fix and flip and will do a 1031 exchange so we don’t have to pay taxes.  So our question is…” Answer: Sorry, but I’ve got to interrupt.  I’m about to make you very sad right now, but you’ll avoid much greater sadness later. Per IRS rules, you cannot
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Should You Have Your Buyer Move In Early?

Question: “As I told you, I’m going to have you sell that rental house I own on [address removed].  The tenant moved out last week.  Once we get a buyer, what do you think of having them move in early so I can get some rent going?” Answer: Risky! Sure, everything could work out great. 
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How Much to Offer on a San Diego Home

Question: “When we find the home we want, how much below the asking price do people offer?” Answer: Sorry, there’s no set formula.  What you should offer depends on 4 things: 1. Value This is the #1 factor in what you should offer.  Forget “always offer X% below list price” or “if you want it,
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