June 2009

Ted Answers Trulia Voices

• Made a offer on a short sale, Bank has not responded to my broker. Could I place another bid on a second short sale With out pulling from the 1st bid? March 12, 2010
  Answer by Ted Mackel: Oliver, The California Association of Realtors produces a magazine for our industry entitled California Real Estate. In the August 2008 issue there is an article entitled "17 days of Angst", the author/ attorney explains how the contingency period works and how buyers can cancel the contract. A quote from the article "alt […]
• My husband bought home before we were married. we lived in it 11yrs. we are faced with short sale. I am not on title. can my daughter and fiance buy? March 12, 2010
  Answer by Ted Mackel: Update: The home I just listed with a similar situation, there is a letter for the buyer to sign stating that the buyer is not related to the sellers or the real estate agents in the transaction and that they're not receiving money outside of escrow. […]
• My husband bought home before we were married. we lived in it 11yrs. we are faced with short sale. I am not on title. can my daughter and fiance buy? March 11, 2010
  Answer by Ted Mackel: Sgold, I just listed a home in Simi Valley yesterday that had this exact same situation and it just is a big fat can of worms you really do not want to get into. Richard in Riverside is stating what is becoming the norm. http://homebuysblog.com/2009/11/09/what-is-a-short-sale-can-i-short-sell-my-home/ […]
• Blocked from housing market March 9, 2010
  Answer by Ted Mackel: I am going to have to back up Bonnie here on this one. FHA financing matters a great deal to sellers. The FHA appraisal is far more rigorous than a conventional loan appraisal. The FHA appraisal process can generate a list of repairs large enough to kill an escrow. The facts support this assertion as well. When you look at the closings […]
• Found my dream home. It's a short sale and goes to auction in 2 weeks. Owner refuses to sign our offer. He will lose it in 2 weeks if someone March 8, 2010
  Answer by Ted Mackel: Kimberly, Here are your issues. If you are getting a loan. The appraiser will need to get in the house. The Seller can post a 24 hour notice (for inspection) and drill the locks if the tenant is uncooperative. This will require scheduling the appraiser and a locksmith all at the same time and if the tenant still refuses or blocks entry, […]