How to Handle Showings with Tenants
Friday, 24 July 2015
Question: “I’d like you to handle the sale of my duplex in Clairemont. How do you handle the showings with the tenants?” Answer: Most duplexes are marketed as “show with offer.” So buyers make offers without going inside, contingent on approving the interior. If they don’t like it, they can cancel their offer, even if
- Published in Q&A - Home Investing Questions
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The Lowdown on Termite Fumigation
Thursday, 23 July 2015
Question: “Gary, I had my house tented about two years ago. I believe it is effective for three years, so is it true that I won’t need to tent again should I sell within three years?” Answer: I’m not sure if you’re asking… Does a fumigation kill termites for 3 years? Is there a 3-year
- Published in Q&A - Home Selling Questions
Using an FHA Loan to Buy Apartments
Friday, 17 July 2015
Question: “Can I use an FHA loan to buy apartments that I’m going to live in?” Answer: FHA loans are for 1-4 unit owner-occupied properties. So in theory, you can use one if you buy a duplex, triplex, or fourplex. However, the qualifying for a triplex or fourplex is so poorly thought out that’s it’s
- Published in Q&A - Home Financing Questions
Is Closing Done via E-signatures or in Person?
Thursday, 16 July 2015
Question: “We may be out of town when our sale closes. Is the closing done via esignatures, or do we have to be present?” Answer: Good news. Unlike other states, in California you do not need to sign anything at closing. It’s all signed beforehand. Of course, there could be some last-minute document to sign,
- Published in Q&A - Home Selling Questions
Will Lenders Make a 30-Year Loan to a Senior?
Friday, 10 July 2015
Question: “I’m 63 years old and would like to move and buy a home in San Diego. Will lenders make a 30 year loan to a senior? That would mean I’d be 93 when the loan is paid off” Answer: Good news. Lenders are not allowed to discriminate based on age. If you qualify, they’ll
- Published in Q&A - Home Financing Questions
Buying a Warranty for the Homebuyer
Thursday, 09 July 2015
Question: “I got an offer on my home that asks us to pay for an optional warranty on the a/c unit. We rarely use it and its 15 years old. If it breaks for the buyer, I don’t want to take on that expense. How do I protect myself?” Answer: You’re buying a warranty policy
- Published in Q&A - Home Selling Questions
Can You Get a VA Loan to Buy a Rental?
Friday, 03 July 2015
Question: “Hi Gary. I’d like to buy a property to rent to my son and his family. Can I use my VA eligibility to get a VA loan?” Answer: Unfortunately, no. You can only get a VA loan on a home that you intend to live in. This is a longshot, but if you don’t
- Published in Q&A - Home Financing Questions