“Question: What repairs do you have to make when you sell your home?” ***ANSWER: Less than you may think. The only legal requirements are having your water heater correctly strapped, and working smoke detectors up in all “sleeping areas.” That’s it. Here are some other items you’re NOT legally required to do, though most homebuyers

“My wife and I rent and there’s been a house for sale down the street. After driving by it for 4 months, we decided to make an offer. When we did, suddenly the seller’s agent said he had another offer. It seems all too coincidental. How often do agents lie and say there’s a second

“I just talked to a lender about refinancing my condo and he told me my FICO scores. They’re 719, 729, and 744. How come there’s 3 different scores?” ***ANSWER: There are three nationwide credit bureaus, each with their very own FICO score name: – Experian has “”Experian, Fair Isaac Risk Model” – TransUnion has “FICO

“Hi Gary. I need every dollar I can get when I sell my condo next month. I interviewed a discount broker and he says he does just what a regular broker does. But I didn’t get a good feeling talking with him. Something made me uneasy and I don’t totally believe him. Do you think

“Hi Gary. We see your signs and your face everywhere. My wife and I have never bought a home before. I heard that legally the home has to be of a certain condition to sell. Specifically that the plumbing, heating, electrical, and appliances must work, and that the roof is watertight. Is this correct?” ***ANSWER:

“Is it really true that with a no-documentation loans that you can just claim any income and obtain any size loan? That must be why there are lots of foreclosures now.” ***ANSWER: No and yes. No doc loans have to make some sense to the loan underwriter (decision maker). I once received an offer on

“When I sell my home, I plan to sell it As Is. It’s not my job to make repairs for some buyer. If they don’t want to buy my place, that’s tough. I’ll just sell it to someone else.” ***ANSWER: Whoah. Simmer down now. Take a breath…and let it out. That’s better. Now, to my

“Hi Gary. My wife and I want to buy a home here in San Diego. We’ve been sitting on the sidelines, watching the market, watching what prices do. We’re really seeing much cheaper prices on homes lately. Do you think the timing is right to buy a home now?” ***ANSWER: Excellent question, and probably the

“My name is XXX and I’m a roommate of XXXX. I emailed a lender asking his opinion on the sub prime lender collapse going on right now and if it will effect loans in about 3-6 months. He said: There is no sub prime lender collapse, just major changes to how they do business. Lenders

“Hi Gary. I recently read that when you sell your home, you only recoup 79.4% of the cost of a kitchen remodel. But my kitchen was really busted up and I’ve got to think I’ll get more than that back. What do you think?” ***ANSWER: You’ve hit the nail on the head with one of