Ted Answers Trulia Voices

• If client signs contract to purchase "as is," can he ask for repairs? February 4, 2010
  Answer by Ted Mackel: G Daniels, The real estate laws in California are different than Illinois. Barry pointed out the correct language from the RPA. The idea behind the AS IS language is that the buyer needs to do their due diligence. During that investigation period on older homes you will find typical items. Buyers should be aware that a 40 y […]
• I have not received CCRs do I have to remove contingencies? February 4, 2010
  Answer by Ted Mackel: Donna, Assuming this is a California Association of Realtors purchase agreement, no you do not have to remove contingencies for the CCRs. You have five days from receiving these documents before you are required to remove that contingency, if the original contingency period has already passed. Any time material facts regarding […]
• will they lease or lease option? January 25, 2010
  Answer by Ted Mackel: Sue, The issue to consider on a lease option in this market is that a home seller who is not willing to sell today is usually holding the property to sell when the market starts to recover or moves up to the price they are willing to sell at. Locking down a property at today's values would not be a huge incentive for most selle […]
• So is 1348 Saturn back on the market or is it still pending? Was it a recent approval and the buyer backed out? Or It is going through a second January 22, 2010
  Answer by Ted Mackel: Brenda, It is still in escrow. A broker out of West Los Angeles (Westside Keller Williams) has the listing. It is a Short Sale waiting for approval. I wrote this article (link below) on Short Sales which might help you understand the process better. If you have any other questions you can contact me through my Trulia profile […]
• Is this property still for sale? I drove by and saw the sign. January 22, 2010
  Answer by Ted Mackel: Bobby, How long did it take to get approval? I am trying to keep track to see if there is any change in the attitudes of the bank. I just closed one where it took just over 3 weeks to get approval. […]