“What repairs are required to sell a home?” Answer: By law, your water heater must be correctly strapped and smoke detectors up in all sleeping areas (bedrooms or the hall outside). The City of San Diego requires low flow toilets, showerhead, and faucets, but you may transfer responsibility to a buyer, who will likely expect

“What items are included with a home?” Answer: Free-standing appliances (refrigerator, washer, dryer) only go with the home if the seller agrees in the contract. Even if the marketing materials call them included, they must be in the contract or you have no right to them. That’s because marketing materials are not part of the

“I know rates are lower if you get a conforming loan. What is that exactly?” Answer: Usually when people mention conforming loans, they’re talking about loans that conform to the FNMA (Fannie Mae) guidelines and loan limits. Here are the FNMA loan limits for San Diego for 1-4 units: 1 Unit = $417,000 (single family,

“Do I need insurance on a condo?” Answer: Virtually all condos have fire insurance on the structure… …However, you still need insurance for the interior components (flooring, cabinets, etc.) for your possessions, and for liability. Most banks are requiring this to fund a loan. Please verify the above with your favorite insurance agent. Check out

“My wife and I plan to sell our home in a few weeks. Our front yard is a mess and needs to be redone so we have better curb appeal. Should I put in rock instead of grass?” Answer: Do you want me to be honest or give you the politically correct answer? The politically

“My friend is looking at a house that’s listed for $550,000, but was appraised for $575,000. He thinks it must be underpriced, but I’ve heard that appraisals aren’t always accurate. Do you agree?” Answer: Yup. The appraisers I know are hard-working, smart professionals and usually the figures they come up with are right on or

“Hi Gary. We’re shopping agents to sell our home. What fee do you charge?” Answer: Say I told you, “I’ve got a house you can buy for $250,000.” Would you buy it? Or would you need to know a little bit about it first? Would it make a difference to you if it’s a dilapidated

“How does it work if I’m buying a home but cancel because I find a problem with the home or my bank won’t give me the loan. Is that breaking the contract? And do I lose my deposit?” Answer: Most contracts have contingencies letting you cancel and get your deposit back under certain conditions. The

“I’m looking to buy a duplex, triplex or fourplex. All the foreclosure properties are vacant but several show projected rents. How accurate are they?” Answer: Beware of projected rents, my friend. Some are guesses, some are educated and honest projections, and some are gross exaggerations. Best that you independently verify by asking a property manager,