What Should You Expect to Pay for Rentback?

Question: “Hi Gary. My wife and I have an offer and are closing quickly this year for tax reasons. We want to rent the house back for 30 days. What rent should we expect to pay?” Answer: Because rentbacks are usually requested by the seller, the typical practice is for the seller to pay the
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Do Sellers Fix Problems Found After You Move In?

Question: “What if I buy a home and find a problem after I move in? Does the seller have to fix the problem?” Answer: Unless you have proof that the seller knew about the problem and didn’t disclose it, it’s your home and your problem. That’s why most people get home inspections and home warranties
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Paying Off the Loan if the Owner Dies

Question: “My father passed away and left his house to me and my sister. She wants to move in and keep the house. But isn’t there some rule where you have to pay off the loan when the owner dies or moves out?” Answer: If available, you should read the loan documents and/or call the
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Your Bank May Lie to You About Your Short Sale

Question: “We’re behind on our mortgage and want to do a short sale, and our bank says we have to be current in order for them to approve it. That doesn’t sound right. What’s your take on this?” Answer: They’re lying to you! You’re talking with a department whose job it is to get you
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Should You Get a Home Warranty to Buy a San Diego Home?

Question: “Do you recommend my wife and I get a home warranty when we buy?” Answer: (A home warranty is a 1-year insurance policy that covers certain things that can go wrong with the built-in appliances, plumbing, electrical, and heating of a home. They have deductibles up to $100. Extended coverage can cover roofs, pools,
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Buying a Foreclosed Duplex Directly from a Bank

Question: “I’d like to find and buy a foreclosed duplex directly from a bank. Any advice on how to do that?” Answer: Having sold close to 800 foreclosures for banks, I definitely know the answer to your question. If the property is owned by a major bank, they have a process they go through before
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How the 3.8% Obamacare Tax Impacts Your Sale

Question: “How does the new 3.8% Obamacare tax work if/when I sell my home?” Answer: This (very long!) answer is from the National Association of Realtors: Top 10 Things You Need to Know About the 3.8% Tax 1. When you add up all of your income from every possible source, and that total is less
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The First Step to Buying Your San Diego Home

Question: “My wife and I have never bought a home. What’s the first step you recommend?” Answer: Step #1 is getting preapproved by a good reputable lender. In this way, you’ll find out: The maximum price you qualify for The maximum price you’re comfortable with What your payments will be Any qualifying challenges you need
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Can You Do a 1031 Exchange on a Fix-and-Flip?

Question: “We just bought a fixer-upper house to fix and flip. The repair work is about done. We want to sell it and buy another and not lose a lot of $$ to the taxman. Can we do one of those 1031 exchanges so we don’t pay any taxes?” Answer: Two agents that worked for
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Should You Get Your San Diego Home Staged?

Question: “Do you recommend getting a home staged before you sell?” Answer: I recently had a home for sale that was getting no action. But when the seller agreed to a small price adjustment and staged the home, we sold it immediately for full price. And I’ve had other clients sell their homes shortly after
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