“I’m buying a short sale and was told I won’t have an answer from the bank for about 2 months. Do you recommend that I inspect the home now, knowing I’ll be out the money if the short sale isn’t approved?” Answer: Great question. There are two schools of thought on this: A) Don’t spend

“I’d like to buy a home, but have some credit issues. Do you know where I can find out how to improve my credit?” Answer: Here’s a tip from San Diego credit repair expert Derrick Evens of “Perfect Credentials” (858-571-0271, derrickevens@yahoo.com): Credit repair/improvement tip: CHECK YOUR CREDIT LIMITS… “One of the most commonly misreported items

“If my inspection shows that a house has problems and I decide not to buy it, do I get my deposit back?” Answer: The standard California contract has an “Inspections and Investigations” contingency giving you a certain number of calendar days (usually 7 to 17) to inspect the home and cancel or ask for repairs.

“I’m talking to agents about selling my home and one said I don’t need a lockbox for agents to see my home. Won’t it be harder to sell my home without one?” Answer: You’re right. And any agent who (except for special cases or very high-end luxury homes) tells a homeseller not to use a

“I wrote an offer on a short sale and it was not presented to the bank. Is that legal?” Answer: While an agent owes the seller a duty to present all offers to them, they do not owe that duty to the bank on a short sale. The bank is not their client. The seller

“Hi Gary. We’ll be selling our condo in La Jolla next month. We know the comps say it’s around 700K, but we’d like to shoot for 725-750K. We’re not in a rush and are willing to hold out even if it takes several months to sell. How long should we expect it to be on

“How does the homebuyer tax credit work?” Answer: Here are the basics: – $8000 to first time homebuyers (haven’t owned for 3 years) – $6500 to homebuyers who aren’t first-timers – Must buy a primary residence – Must sign contract to buy home by 4/30/10 – Must close by 6/30/10 – Must stay in the

“It’s so hard to know what the market is going to do. Do you think this is a good time to invest [in real estate] in San Diego?” Answer: Of course, many agents will answer “yes” to that whatever the market so they can make a sale. So rather than just answering your question, let

“Is it legal for agents to represent both the buyer and seller? How can they possibly do that?” Answer: Great question. This “dual agency” is legal in California and most other states as long as it’s disclosed. The downside is that some agents abuse the situation. For example, the buyer or seller may tell the