Offering on the San Diego Home You’re After
Monday, 26 December 2011
by Gary Kent
“My wife and I found a Pacific Beach home we want to buy. The list price is $525,000. What do you think a good offer would be?” Answer: Probably $515,000. Or $535,000. Or perhaps $400,000. Your question is impossible to answer until you tell me: 1. What is the home worth? (You should have a
- Published in Home Buying, San Diego
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Having Defects Fixed vs. Dollar Credit
Tuesday, 13 December 2011
by Gary Kent
“My wife and are planning to buy a La Jolla home. We know to hire a home inspector to find any major defects in the home. If such defects are found, do you suggest asking for the item to be fixed or for a dollar credit?” Answer: I usually recommend to all my clients, be
- Published in Home Buying, Real Estate Tips, San Diego
Buying a Messy San Diego Home
Monday, 05 December 2011
by Gary Kent
“My wife and I have been looking at San Diego homes and can’t believe how much of a mess some are. We went into one that had piles of old newspapers and junk stacked all the way to the ceiling. I’d never buy a home in the disgusting condition some are offered in. Do agents
- Published in Home Buying, Real Estate Tips, San Diego
An Unethical Agent-Abusing Tactic
Friday, 18 November 2011
by Gary Kent
“My wife and I are looking for a North Park home. Her brother is a contractor and also has a real estate license. He told us to do all the legwork and have agents show us homes, then he’d write the offer for us. So we’ve been calling agents to see homes, but we just
- Published in Home Buying, San Diego
Investor Offers on Fannie Mae’s Foreclosures
Monday, 24 October 2011
by Gary Kent
“Hey Gary do you have offers from investors? Can I write an offer now, though I know it is only day 12 out of 15?” Answer: Let me explain the context: this is an agent asking if she can write an offer for an investor on a Fannie Mae-owned property that has been listed for
- Published in Home Buying, San Diego
Does Anyone Read the Whole Contract?
Wednesday, 19 October 2011
by Gary Kent
“When my wife and I bought our home this year, the contract was about 15 pages long, full of small print. We had about 10 minutes to skim it before we signed. Does anyone ever read the whole contract?” Answer: Almost nobody. Of the 3,000+ clients I’ve served over 21 years, I could count on
- Published in FAQs, Home Buying
Understanding Buyer Cancellation Penalties
Friday, 14 October 2011
by Gary Kent
“On what date can the buyer no longer back out without penalty?” Answer: It depends on the contract. It’s often the 17th day after acceptance, but your case could be different. Let me address a related issue… Many agents tell their clients, “if the buyer cancels, you get the deposit.” This is not necessarily correct.
- Published in FAQs, Home Buying, Home Selling
The Downsides of Low Offers
Tuesday, 11 October 2011
by Gary Kent
“Want to get your opinion. We want to buy a home. What’s the downside to making a low offer to see what the seller will take?” Answer: Great question. But what do you call a “low offer”? I’d call an offer within 5% of the market value an “okay offer.” The only downside is you
- Published in FAQs, Home Buying, Real Estate Tips
Buying a Duplex as a First Home
Sunday, 09 October 2011
by Gary Kent
“What do you think of buying a duplex as a first home?” Answer: Way back in 1986, the first home my wife and I bought was a Clairemont duplex. We stretched to buy it for $122,000, but we did get $425 per month for the other 2-bedroom unit. It worked out great. So you can
- Published in FAQs, Home Buying, San Diego
Deal with the Agent, Not the Seller
Tuesday, 04 October 2011
by Gary Kent
“There’s a house for sale I’m interested in buying. Is it illegal or unethical for me to approach the seller and find out what price they’ll take?” Answer: It’s not illegal. And it’s not literally unethical because you don’t have a formal code of ethics to adhere to like Realtors do. Better words to use
- Published in FAQs, Home Buying, Real Estate Tips