The Weidauer Group – The Leader in Real Estate
10 Tips for Moving With Pets
Moving to a new home can be stressful on your pets, but there are many things you can do to make the process as painless as possible. Experts at The Pet Realty Network (www.petrealtynetwork.com) in Naples, Fla., offer these helpful tips for easing the transition and keeping pets safe during the move.
1. Update your pet’s tag. Make sure your pet is wearing a sturdy collar with an identification tag that is labeled with your current contact information. The tag should include your destination location, telephone number, and cell phone number so that you can be reached immediately during the move.
2. Ask for veterinary records. If you’re moving far enough away that you’ll need a new vet, you should ask for a current copy of your pet’s vaccinations. You also can ask for your pet’s medical history to give to your new vet, although that can normally be faxed directly to the new medical-care provider upon request. Depending on your destination, your pet may need additional vaccinations, medications, and health certificates. Have your current vet's phone number handy in case of an emergency, or in case your new vet would like more information about your pet.
3. Keep medications and food on hand. Keep at least one week’s worth of food and medication with you in case of an emergency. Vets can’t write a prescription without a prior doctor/patient relationship, which can cause delays if you need medication right away. You may want to ask for an extra prescription refill before you move. The same preparation should be taken with special therapeutic foods — purchase an extra supply in case you can't find the food right away in your new area.
4. Seclude your pet from chaos. Pets can feel vulnerable on moving day. Keep them in a safe, quiet, well-ventilated place, such as the bathroom, on moving day with a “Do Not Disturb! Pets Inside!” sign posted on the door. There are many light, collapsible travel crates on the market if you choose to buy one. However, make sure your pet is familiar with the new crate before moving day by gradually introducing him or her to the crate before your trip. Be sure the crate is well-ventilated and sturdy enough for stress-chewers; otherwise, a nervous pet could escape.
5. Prepare a first aid kit. First aid is not a substitute for emergency veterinary care, but being prepared and knowing basic first aid could save your pet's life. A few recommended supplies: Your veterinarian's phone number, gauze to wrap wounds or to muzzle your pet, adhesive tape for bandages, non-stick bandages, towels, and hydrogen peroxide (3 percent). You can use a door, board, blanket or floor mat as an emergency stretcher and a soft cloth, rope, necktie, leash, or nylon stocking for an emergency muzzle.
6. Play it safe in the car. It’s best to travel with your dog in a crate; second-best is to use a restraining harness. When it comes to cats, it’s always best for their safety and yours to use a well-ventilated carrier in the car. Secure the crate or carrier with a seat belt and provide your pet with familiar toys. Never keep your pet in the open bed of a truck or the storage area of a moving van. In any season, a pet left alone in a parked vehicle is vulnerable to injury and theft. If you’ll be using overnight lodging, plan ahead by searching for pet-friendly hotels. Have plenty of kitty litter and plastic bags on hand, and keep your pet on its regular diet and eating schedule.
7. Get ready for takeoff. When traveling by air, check with the airline about any pet requirements or restrictions to be sure you’ve prepared your pet for a safe trip. Some airlines will allow pets in the cabin, depending on the animal’s size, but you’ll need to purchase a special airline crate that fits under the seat in front of you. Give yourself plenty of time to work out any arrangements necessary including consulting with your veterinarian and the U.S. Department of Agriculture. If traveling is stressful for your pet, consult your veterinarian about ways that might lessen the stress of travel.
8. Find a new veterinary clinic and emergency hospital. Before you move, ask your vet to recommend a doctor in your new locale. Talk to other pet owners when visiting the new community, and call the state veterinary medical association (VMA) for veterinarians in your location. When choosing a new veterinary hospital, ask for an impromptu tour; kennels should be kept clean at all times, not just when a client’s expected. You may also want to schedule an appointment to meet the vets. Now ask yourself: Are the receptionists, doctors, technicians, and assistants friendly, professional and knowledgeable? Are the office hours and location convenient? Does the clinic offer emergency or specialty services or boarding? If the hospital doesn’t meet your criteria, keep looking until you’re assured that your pet will receive the best possible care.
9. Prep your new home for pets. Pets may be frightened and confused in new surroundings. Upon your arrival at your new home, immediately set out all the familiar and necessary things your pet will need: food, water, medications, bed, litter box, toys, etc. Pack these items in a handy spot so they can be unpacked right away. Keep all external windows and doors closed when your pet is unsupervised, and be cautious of narrow gaps behind or between appliances where nervous pets may try to hide. If your old home is nearby, your pet may try to find a way back there. To be safe, give the new home owners or your former neighbors your phone number and a photo of your pet, and ask them to contact you if your pet is found nearby.
10. Learn more about your new area. Once you find a new veterinarian, ask if there are any local health concerns such as heartworm or Lyme disease, or any vaccinations or medications your pet may require. Also, be aware of any unique laws. For example, there are restrictive breed laws in some cities. Homeowner associations also may have restrictions — perhaps requiring that all dogs are kept on leashes. If you will be moving to a new country, carry an updated rabies vaccination and health certificate. It is very important to contact the Agriculture Department or embassy of the country or state to which you’re traveling to obtain specific information on special documents, quarantine, or costs to bring the animal into the country.
Source: The Pet Realty Network (www.petrealtynetwork.com)
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
http://about.me/weidauergroup
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Wednesday, January 26, 2011
Monday, January 24, 2011
Cities Where It's Cheaper to Buy Than Rent
The Weidauer Group – The Leader in Real Estate
Cities Where It's Cheaper to Buy Than Rent
It’s cheaper to buy a home rather than rent one in 72 percent of the 50 largest U.S. cities, according to Trulia’s rent vs. buy index, which compares the total cost of home ownership to the cost of renting.
"Since the start of the 'Great Recession,' many former home owners have flooded the rental market,” Pete Flint, CEO of Trulia, said in a news release about the index. “Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets.”
The index compares the median sales price of homes with the median rent on two bedroom apartments, condos, and townhomes that were listed on Trulia as of Jan. 10, 2011.
Here are the top 10 cities where it’s best to buy than rent, according to the index:
1. Miami
2. Las Vegas
3. Arlington, Texas
4. Mesa, Ariz.
5. Phoenix, Ariz.
6. Jacksonville, Fla.
7. Sacramento, Calif.
8. San Antonio, Texas
9. Fresno, Calif.
10. El Paso, Texas
Source: “Cheaper to Buy Than to Rent in 72% of Largest U.S. Cities,” Inman News (Jan. 24, 2011)
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
http://about.me/weidauergroup
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Cities Where It's Cheaper to Buy Than Rent
It’s cheaper to buy a home rather than rent one in 72 percent of the 50 largest U.S. cities, according to Trulia’s rent vs. buy index, which compares the total cost of home ownership to the cost of renting.
"Since the start of the 'Great Recession,' many former home owners have flooded the rental market,” Pete Flint, CEO of Trulia, said in a news release about the index. “Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets.”
The index compares the median sales price of homes with the median rent on two bedroom apartments, condos, and townhomes that were listed on Trulia as of Jan. 10, 2011.
Here are the top 10 cities where it’s best to buy than rent, according to the index:
1. Miami
2. Las Vegas
3. Arlington, Texas
4. Mesa, Ariz.
5. Phoenix, Ariz.
6. Jacksonville, Fla.
7. Sacramento, Calif.
8. San Antonio, Texas
9. Fresno, Calif.
10. El Paso, Texas
Source: “Cheaper to Buy Than to Rent in 72% of Largest U.S. Cities,” Inman News (Jan. 24, 2011)
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
http://about.me/weidauergroup
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Friday, January 21, 2011
Common Closing Costs for Buyers
The Weidauer Group – The Leader in Real Estate
Common Closing Costs for Buyers
You’ll likely be responsible for a variety of fees and expenses that you and the seller will have to pay at the time of closing. Your lender must provide a good-faith estimate of all settlement costs. The title company or other entity conducting the closing will tell you the required amount for:
• Down payment
• Loan origination
• Points, or loan discount fees, which you pay to receive a lower interest rate
• Home inspection
• Appraisal
• Credit report
• Private mortgage insurance premium
• Insurance escrow for homeowner’s insurance, if being paid as part of the mortgage
• Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
• Deed recording
• Title insurance policy premiums
• Land survey
• Notary fees
• Prorations for your share of costs, such as utility bills and property taxes
A Note About Prorations: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first five days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.
•
• Notary fees
• Prorations for your share of costs, such as utility bills and property taxes
A Note About Prorations: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first five days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Common Closing Costs for Buyers
You’ll likely be responsible for a variety of fees and expenses that you and the seller will have to pay at the time of closing. Your lender must provide a good-faith estimate of all settlement costs. The title company or other entity conducting the closing will tell you the required amount for:
• Down payment
• Loan origination
• Points, or loan discount fees, which you pay to receive a lower interest rate
• Home inspection
• Appraisal
• Credit report
• Private mortgage insurance premium
• Insurance escrow for homeowner’s insurance, if being paid as part of the mortgage
• Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
• Deed recording
• Title insurance policy premiums
• Land survey
• Notary fees
• Prorations for your share of costs, such as utility bills and property taxes
A Note About Prorations: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first five days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.
•
• Notary fees
• Prorations for your share of costs, such as utility bills and property taxes
A Note About Prorations: Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first five days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Wednesday, January 19, 2011
What Not to Overlook on a Final Walk-through
The Weidauer Group – The Leader in Real Estate
What Not to Overlook on a Final Walk-through
It’s guaranteed to be hectic right before closing, but you should always make time for a final walk-through. Your goal is to make sure that your home is in the same condition you expected it would be. Ideally, the sellers already have moved out. This is your last chance to check that appliances are in working condition and that agreed-upon repairs have been made. Here’s a detailed list of what not to overlook for on your final walk-through.
Make sure that:
• Repairs you’ve requested have been made. Obtain copies of paid bills and warranties.
• There are no major changes to the property since you last viewed it.
• All items that were included in the sale price — draperies, lighting fixtures, etc. — are still there.
• Screens and storm windows are in place or stored.
• All appliances are operating, such as the dishwasher, washer and dryer, oven, etc.
• Intercom, doorbell, and alarm are operational.
• Hot water heater is working.
• No plants or shrubs have been removed from the yard.
• Heating and air conditioning system is working
• Garage door opener and other remotes are available.
• Instruction books and warranties on appliances and fixtures are available.
• All personal items of the sellers and all debris have been removed. Check the basement, attic, and every room, closet, and crawlspace.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
What Not to Overlook on a Final Walk-through
It’s guaranteed to be hectic right before closing, but you should always make time for a final walk-through. Your goal is to make sure that your home is in the same condition you expected it would be. Ideally, the sellers already have moved out. This is your last chance to check that appliances are in working condition and that agreed-upon repairs have been made. Here’s a detailed list of what not to overlook for on your final walk-through.
Make sure that:
• Repairs you’ve requested have been made. Obtain copies of paid bills and warranties.
• There are no major changes to the property since you last viewed it.
• All items that were included in the sale price — draperies, lighting fixtures, etc. — are still there.
• Screens and storm windows are in place or stored.
• All appliances are operating, such as the dishwasher, washer and dryer, oven, etc.
• Intercom, doorbell, and alarm are operational.
• Hot water heater is working.
• No plants or shrubs have been removed from the yard.
• Heating and air conditioning system is working
• Garage door opener and other remotes are available.
• Instruction books and warranties on appliances and fixtures are available.
• All personal items of the sellers and all debris have been removed. Check the basement, attic, and every room, closet, and crawlspace.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Tuesday, January 18, 2011
What’s a Home Warranty?
The Weidauer Group – The Leader in Real Estate
What’s a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
Check your home warranty policy to see which of the following items are covered. Also find out if the policy covers the full replacement cost of an item.
• Plumbing
• Electrical systems
• Furnace
• Water heater
• Heating ducts
• Water pump
• Dishwasher
• Garbage disposal
• Stove/cooktop/ovens
• Microwave
• Refrigerator
• Washer/dryer
• Swimming pool (may be optional)
Source: American Home Shield, www.ahswarranty.com, REALTOR® Benefits Partner
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
What’s a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
Check your home warranty policy to see which of the following items are covered. Also find out if the policy covers the full replacement cost of an item.
• Plumbing
• Electrical systems
• Furnace
• Water heater
• Heating ducts
• Water pump
• Dishwasher
• Garbage disposal
• Stove/cooktop/ovens
• Microwave
• Refrigerator
• Washer/dryer
• Swimming pool (may be optional)
Source: American Home Shield, www.ahswarranty.com, REALTOR® Benefits Partner
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Wednesday, January 12, 2011
5 Things to Know About Title Insurance
The Weidauer Group – The Leader in Real Estate
5 Things to Know About Title Insurance
Title insurance protects the holder from any losses sustained from defects in the title. It’s required by most mortgage lenders. Here are five other things you should know about title insurance.
1. It protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a person’s name or an inaccurate description of the property.
2. It’s a one-time cost usually based on the price of the property.
3. It’s usually paid for by the sellers, although this can vary depending on your state and local customs.
4. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.
5. Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required to check the title. Ask the title company if this discount is available.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
5 Things to Know About Title Insurance
Title insurance protects the holder from any losses sustained from defects in the title. It’s required by most mortgage lenders. Here are five other things you should know about title insurance.
1. It protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such as mistake in the spelling of a person’s name or an inaccurate description of the property.
2. It’s a one-time cost usually based on the price of the property.
3. It’s usually paid for by the sellers, although this can vary depending on your state and local customs.
4. There are both lender title policies, which protect the lender, and owner title policies, which protect you. The lender will probably require a lender policy.
5. Discounts on premiums are sometimes available if the home has been bought within only a few years since not as much work is required to check the title. Ask the title company if this discount is available.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Tuesday, January 11, 2011
Tips for Lowering Homeowner’s Insurance Costs
The Weidauer Group – The Leader in Real Estate
Tips for Lowering Homeowner’s Insurance Costs
1. Review the Comprehensive Loss Underwriting Exchange (CLUE) report on the property you’re interested in buying. CLUE reports detail the property’s claims history for the most recent five years, which insurers may use to deny coverage. Make the sale contingent on a home inspection to ensure that problems identified in the CLUE report have been repaired.
2. Seek insurance coverage as soon as your offer is approved. You must obtain insurance to buy. And you don’t want to be told at closing that the insurer has denied your coverage.
3. Maintain good credit. Insurers often use credit-based insurance scores to determine premiums.
4. Buy your home owners and auto policies from the same company and you’ll usually qualify for savings. But make sure the discount really yields the lowest price.
5. Raise your deductible. If you can afford to pay more toward a loss that occurs, your premiums will be lower. Avoid making claims under $1,000.
6. Ask about other discounts. For example, retirees who tend to be home more than full-time workers may qualify for a discount on theft insurance. You also may be able to obtain discounts for having smoke detectors, a burglar alarm, or dead-bolt locks.
7. Seek group discounts. If you belong to any groups, such as associations or alumni organizations, they may have deals on insurance coverage.
8. Review your policy limits and the value of your home and possessions annually. Some items depreciate and may not need as much coverage.
9. Investigate a government-backed insurance plan. In some high-risk areas, federal or state government may back plans to lower rates. Ask your agent.
10. Be sure you insure your house for the correct amount. Remember, you’re covering replacement cost, not market value.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Tips for Lowering Homeowner’s Insurance Costs
1. Review the Comprehensive Loss Underwriting Exchange (CLUE) report on the property you’re interested in buying. CLUE reports detail the property’s claims history for the most recent five years, which insurers may use to deny coverage. Make the sale contingent on a home inspection to ensure that problems identified in the CLUE report have been repaired.
2. Seek insurance coverage as soon as your offer is approved. You must obtain insurance to buy. And you don’t want to be told at closing that the insurer has denied your coverage.
3. Maintain good credit. Insurers often use credit-based insurance scores to determine premiums.
4. Buy your home owners and auto policies from the same company and you’ll usually qualify for savings. But make sure the discount really yields the lowest price.
5. Raise your deductible. If you can afford to pay more toward a loss that occurs, your premiums will be lower. Avoid making claims under $1,000.
6. Ask about other discounts. For example, retirees who tend to be home more than full-time workers may qualify for a discount on theft insurance. You also may be able to obtain discounts for having smoke detectors, a burglar alarm, or dead-bolt locks.
7. Seek group discounts. If you belong to any groups, such as associations or alumni organizations, they may have deals on insurance coverage.
8. Review your policy limits and the value of your home and possessions annually. Some items depreciate and may not need as much coverage.
9. Investigate a government-backed insurance plan. In some high-risk areas, federal or state government may back plans to lower rates. Ask your agent.
10. Be sure you insure your house for the correct amount. Remember, you’re covering replacement cost, not market value.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Thursday, January 6, 2011
Navigating Short Sales: What to Do When the Sale Price Leaves You Short
The Weidauer Group – The Leader in Real Estate
Navigating Short Sales: What to Do When the Sale Price Leaves You Short
If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as:
• Refinancing your loan at a lower interest rate
• Providing a different payment plan to help you get caught up
• Providing a forbearance period if your situation is temporary
When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if
• Your property is worth less than the total mortgage you owe on it.
• You have a financial hardship, such as a job loss or major medical bills.
• You have contacted your lender and it is willing to entertain a short sale.
2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest.
A qualified real estate professional can:
• Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
• Help you set an appropriate listing price for your home, market the home, and get it sold.
• Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
• Ease the process of working with your lender or lenders.
• Negotiate the contract with the buyers.
• Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include
• A hardship letter detailing your financial situation and why you need the short sale
• A copy of the purchase contract and listing agreement
• Proof of your income and assets
• Copies of your federal income tax returns for the past two years
4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:
• If you have only one mortgage, the review can take about two months.
• With a first and second mortgage with the same lender, the review can take about three months.
• With two or more mortgages with different lenders, it can take four months or longer.
When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)
5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:
• You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.
• Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
• Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.
Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
Navigating Short Sales: What to Do When the Sale Price Leaves You Short
If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as:
• Refinancing your loan at a lower interest rate
• Providing a different payment plan to help you get caught up
• Providing a forbearance period if your situation is temporary
When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if
• Your property is worth less than the total mortgage you owe on it.
• You have a financial hardship, such as a job loss or major medical bills.
• You have contacted your lender and it is willing to entertain a short sale.
2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest.
A qualified real estate professional can:
• Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
• Help you set an appropriate listing price for your home, market the home, and get it sold.
• Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
• Ease the process of working with your lender or lenders.
• Negotiate the contract with the buyers.
• Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include
• A hardship letter detailing your financial situation and why you need the short sale
• A copy of the purchase contract and listing agreement
• Proof of your income and assets
• Copies of your federal income tax returns for the past two years
4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:
• If you have only one mortgage, the review can take about two months.
• With a first and second mortgage with the same lender, the review can take about three months.
• With two or more mortgages with different lenders, it can take four months or longer.
When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)
5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:
• You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.
• Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
• Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.
Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA.
Darin Weidauer
Weidauer Group – The Leader in Real Estate
Realtor – Los Angeles – Las Vegas
CA DRE License #01870184
424-400-4056 or 310-896-5769
NV DRE License #S.0070208
702-582-7084 or 424-400-4056
darinweidauer@weidauergroup.com
http://www.weidauergroupo.com
http://www.facebook.com/weidauergroup
http://www.twitter.com/weidauergroup
http://www.youtube.com/weidauergroup
http://www.weidauergroup-theleaderinrealestate.blogspot.com/
Los Angeles, Beverly Hills, West Los Angeles, West Hollywood, Brentwood, Century City, Venice, Henderson, Hermosa Beach, Manhattan Beach, South Bay, Bel Air, Santa Monica, Culver City, Mar Vista, Rancho Palos Verdes, Pacific Palisades, Commerce, Marina del Rey, Playa del Rey, Playa Vista, Cheviot Hills, Malibu, Hawthorne, Redondo Beach, Torrance, Las Vegas, Long Beach, Westchester, Pasadena, El Segundo, Burbank, Studio City, Universal City, Sherman Oaks, Glendale, Agoura, Agoura Hills, San Gabriel, San Marino, Santa Clarita, Sierra Madre, Calabasas, Bell Canyon, Chatsworth, Newbury Park, North Las Vegas, Moorpark, Oak Park, Simi Valley, Wood Ranch, North Ranch, Lake Sherwood, Camarillio, Conejo Valley, Woodland Hills, Hidden Hills, Bradbury, Inglewood, Glendora, Rolling Hills, La Canada Flintridge, Encino, Tarzana, Reseda, West Lake Village, San Fernando Valley, Norwalk, Newport Beach, Seal Beach, Downey, Norwalk, South Gate, Bell, Bellflower, Paramount, La Mirada, La Habra, Whittier, Costa Mesa, Irvine, Cerritos, Bell Gardens, Lynwood, Los Angeles County, Ventura County, Upland, Westminister, Los Angeles County, Orange County, Clark County
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