| Buyers
Need a home, try the MLS Search Its a real time search that feeds from the Fresno MLS. You can find any Home for sale In Fresno or any Home for sale in Clovis. You can also search this web site for more info about Fresno housing or Clovis housing.
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Question :: I own 50% of a house and I want out, Can I force a sale?
Answer ::You cannot force a sale unless you have an express, written agreement that specifically states either party may elect for the other to participate in a sale under certain circumstances or for no reason at all.
You do have other options. You could sell your interest in the property there are more but the methods to execute these options are a bit more complex. You should call or come in for help if any of the above doesn't work for you. Question : I am buying a short sale home and the seller says they will not sign the purchase contract until their lender excepts the deal, is this how short sales work?
Answer :NO, short sales do NOT work like this, in order for a short sale to be considered by a lender, they have to have a fully executed contract. For the contract to be valid it must have a start date and a finish date, also lenders who agree to accept a short sale will require specific language stating, if the sale can not go through all parties agree to walk away at no cost to the seller. One of the reasons they require this is in the event the deal can not close they do not want additional liens placed on the property, further clouding the title.
Question :I have a property I am selling as a For Sale By Owner, I had three Realtors give me a current market analysis and I paid for an appraisal for my own information. I have a interested party but they don’t like what the current market analysis reports says, who is responsible for an updated or current appraisal me or the buyer?
Answer :Did you know Realtors normally get 15 or 20% more for a home then a For Sale By Owner? Just food for thought, cause in your case it really looks like you could use some help. But to answer your question it doesn’t matter how many appraisals you have, they won't come into play with the buyer because, the buyer’s lender will require an appraisal done by an appraiser of the lender's choice, the buyer is normally the one who pays for the appraisal. If it appraises, then the contract goes forward. If it comes in lower than the contract price, you have several choices. You the seller can adjust the sales price to meet the appraisal price, the buyer can come up with the difference between the contract and appraisal price in an additional down payment, the buyer can walk, or a negotiation can take place in which all parties participate. If you would like for me to give you an idea what the maximum price is that your home could appraise for, call me, I’ll look it up for you. Question :When buying a new home, what upgrades should we go for? What holds the most value? What’s the best bang for the buck?
Answer :For the most part, upgrades are high profit items for builders. They aren't designed to enhance the value of the house or make you money; they are designed to make you happier with the house and the builder more money. Of course if you plan to live in the home you are buying, then select upgrades that will enhance your quality of living. There is one rule I always go by when buying a new home, upgrade the carpet and padding. Question :Are those late night television Real Estate Shows real or just scams?
Answer :The guys on TV telling you how to buy and sell Real Estate make a lot of money, but not in Real Estate. They are in the business of selling books and DVD’s. In other words, it's easier to sell you those crazy schemes than Real Estate. Making money in Real Estate requires a lot of hard work and a lot of hours. If you want to give Real Estate a go, call me I will help you. Question :How do I find someone to finance a Sheriff sale property that is being sold at the Court House?
Answer :You Don’t! You have to show up with a cashier's check or certified funds. Question :I have been in escrow 30 days and it’s 2 days before the close, my lender just called and said the appraiser said the roof needs to be replaced, I am buying the house AS-IS.
Answer :I am not sure I understand the question, however the lender can make any requirement they want when it comes to the loan on any given property. One has to ask why would this be coming up now? An appraisal should have been done the first week you were in contract and you should have found out about it then. If you have a Realtor, you should give him or her a call and explain things, see what they say, if you don’t call me and I will look into it for you or you may wish to have an attorney review your paperwork and circumstances. Question :I am trying to buy a house, if I get an accepted offer, how long do I have to apply for a mortgage?
Answer :Many purchase contracts say you must apply for a loan in so many days, however there are two problems trying to buy a home like this, first, no seller will take you as a serious buyer and most likely you will never get an offer excepted unless your dealing with people who don’t know what they are doing. Second, the current state of the market makes it essential to get financing lined up. Call a lender immediately if you have not done so already, it will make you a stronger buyer if your pre-approved for a loan and your odds will go way up when it comes to getting an offer excepted.
Disclaimer,The above questions are being answered in general terms and being made available with the understanding that we are not rendering legal, accounting, or other professional services. If you need expert assistance you should call in or seek the services of a competent professional.
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