“I’ve just had an offer accepted on a home. If my inspector finds things like a leaky roof or the heater doesn’t work, does the seller have to fix the items?” ***ANSWER: Nope. The seller is only LEGALLY required to have: 1. Operative smoke detectors in the “sleeping areas”. 2. Earthquake straps on the water

“I’ve heard the terms ‘soft prepay’ and ‘hard prepay’. What do they mean?” ***ANSWER: As you may know, “prepay” refers to a prepayment penalty that is charged when a home loan is paid off early. Most home loans don’t have prepayment penalties, but some do. For those that do, the penalties are usually for the

“I bought a condo with a cracked slab 5 years ago. We filled it at that time and have not had a problem with anything that we can see since then. I had put in wood floors and new carpet back then and have not looked under either since. Do we have disclose this to

“We rent right now and can barely afford a house, so my wife and I were thinking condo. But I don’t want to pay those monthly association fees. They’re a waste of money. Are there any condos without fees?” ***ANSWER: Sorry. With rare exception, buying a condo means you’ll be paying those pesky “HOA fees.”

“I recently had a realtor tell me that running my credit multiple times for the purposes of obtaining a home loan/mortgage would not take points off my credit score. Is this true? Is this different than having my credit run several times for, say, an auto loan?” ***ANSWER: That Realtor was correct. To get you

“I’m thinking of remodeling our kitchen. We plan to sell when our kids graduate high school in a couple of years and I’m curious how much the remodel will add to the value.” ***ANSWER: I’m asked this a lot. The answer: it depends. It depends on: 1. How much your kitchen (or bath or ???)

“Do you usually get the oven and refrigerator included when you buy a home?” ***ANSWER: Unless otherwise agreed in the contract, all built-in appliances are automatically included. Be careful about stoves that look built-in but are actually slide in. Tell your agent to list them in your offer. Freestanding appliances like refrigerators, washers, and dryers

“Not only do I not like paying mortgage insurance, it isn’t even tax deductible. Can you still get zero down loans without paying mortgage insurance?” ***ANSWER: They’re hard to come by. But my lender has something unique they call “tax advantaged mortgage insurance” or TAMI for short. Instead of charging you mortgage insurance, which is

“Does pest control clearance cover just termites, or does it also cover rats and ants, etc.?” ***ANSWER: The term “pest control clearance” is a misnomer, as it implies all kinds of bugs, rodents, and other pests will be eradicated. In reality, a pest control clearance covers “wood-destroying pests and organisms”, which are mainly termites, dryrot,

“I’m looking for a little investment house or condo in San Diego county. Something that’s a real bargain. What areas do you recommend?” ***ANSWER: In my opinion, the areas that have seen the biggest price drops are, in very rough declining order: 1. Spring Valley 2. Paradise Hills 3. EastLake (east Chula Vista) 4. Oceanside