Size of Your Deposit When Buying a San Diego Home
Friday, 18 June 2010
“How much should my deposit be when I buy a home? I’ve heard you should make it as small as possible so you don’t lose much if you back out.” Answer: Small deposits do pose less risk to you as a buyer. But your deposit money is only at risk if you back out, and
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Finding Out Your Credit Score
Wednesday, 16 June 2010
“I want to buy a home next year. I know my credit has problems from a few years ago, but I’ve paid all my bills on time or early for awhile. How do I find out what my credit score is now?” Answer: Residents of California (and 12 other western states) can get a FREE
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Fate of the Deposit if the Buyer Backs Out
Monday, 14 June 2010
“Hi Gary, we’re going to be calling you shortly to sell our home soon. Right now my wife and I have a question. If we sell and the buyer backs out, do we get to keep the deposit? I say yes, but my wife says it depends.” Answer: Listen to your wife! The standard purchase
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Amount of Down Payment to Buy a San Diego Home
Saturday, 12 June 2010
“I saw one of your properties in your newsletter that might be perfect for a friend of mine looking to buy. How much down payment would he need to buy the XXXX property?” Answer: Great question. The answer is, it depends on your friend’s credit rating and income. It could literally be zero down. Have
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Turning Non-Recourse Loans Into Recourse Loans
Thursday, 10 June 2010
“Gary, I went to your short sale seminar. It was great and I learned a lot. Thanks. I have a question about loan modifications. Can they turn a non-recourse loan into a recourse loan? You mentioned something about this…” Answer: On a recourse loan, the lender can go after you for their loss if you’re
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Selling Your San Diego Home Vacant vs. Occupied
Tuesday, 08 June 2010
“Is it better to sell a home vacant or occupied?” Answer: Many people ask me this same question. The answer: It depends on 2 things: 1. How the occupant lives (furniture & tidiness) 2. The house If you have an ugly home, but you have nice “stuff” and are a neatfreak, sell it occupied. Attractive
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What to Offer When Buying a San Diego Home
Saturday, 05 June 2010
“My wife and I own a condo in P.B. and want to move to a house in La Jolla, Del Mar, & Carmel Valley. Since we haven’t bought a home for many years, I don’t know how much below list price to offer when we find a home. What do you suggest?” Answer: Good question.
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Investing in San Diego Real Estate w/ Your IRA
Thursday, 03 June 2010
“Is it possible to invest in real estate with your IRA?” Answer: Absolutely. In fact, I’ve done it before and am buying an investment property right now with my IRA. There are some rules you need to follow. One of the major ones is that you cannot live in the home you buy with your
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The Right Range for Value Range Pricing
Monday, 31 May 2010
“We’ll be calling you to sell our home shortly. In the meantime, we have a question. What’s the correct range for value range pricing? We’ve seen wide ones and narrow ones and wanted your opinion.” Answer: Value range pricing is a bit unusual and rarely used outside of San Diego, so many people don’t really
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Why You Need Both Appraisal & Inspection
Saturday, 29 May 2010
“Hi Gary… When you buy a home, you have it appraised, so do you really need to pay for an inspection too? Wouldn’t the appraiser tell you if he finds any problems?” Answer: Great question. The appraiser’s job is to determine a value for a home. If he or she happens to see a glaring
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