Orange County Short Sale Specialist: California: Irvine

8,000 dlls tax credit in Orange County, Do you qualify for it?

8,000 dlls credito sobre los impuestos en Orange County, Usted Califica?

What if you already own a vacation home, are you disqualified?

Que tal si ya tiene una casa que usa para vacacionar o que no habita en ella? quedo ya descalificado para este credit?

What if your partner owns a house but not you, are you eligible for the tax credit?

Que tal si su pareja ya tiene una casa pero usted no, viven juntos pero no estan casados, califica para este credito?

This is a great opportunity for first time home buyers, to actually own a property, buy it with very low down payment, home prices are very affordable and interest rates and very low, nevertheless, a lot of buyers don't know whether they qualify for the tax credit, and if they do, how does that work, do they need to pay it back?

to answer the above questions and more, I invite you to visit the below link, you will find answers to a lot of questions regarding this matter, and remember, I good realtor is on top of things and can respond to those and other real estate questions you may have.

Esta es sin lugar duda una excelente epoca para comprar una casa, y convertirse en un primer comprador y dueño de su propiedad, los precios de las casas estan bastante economicos, el enganche necesario es muy minimo y los intereses ni hablar, super bajos, sin embargo, por increible que parezca aun hay mucha gente que no se anima a dar ese paso, para convertirse en un propietario de casa, aproveche este credito del gobierno!

Para responder a esas preguntas u otras relacionadas con la compra de su casa, recuerde, un buen real estate, se mantiene al tanto de lo que pasa y podra ayudarlo a resolver esas preguntas, lo invito a que revise el link de abajo para ver las preguntas mas comunes con especto al credito de 8,000 dolares.

http://www.federalhousingtaxcredit.com/2009/faq.php#1

Thank you all for your kind answer, I look forward talking to you soon

Sincerely

Carlos Morales CDPE Real Estate Re/Max

714-955-1932

My Property is on FIRE and we are in Escrow now What?

Surely this question has come to your mind if your property is located in a fire hazard area, and more than once you have thought what would happen in the event I'm selling my property and during the escrow period a fire strikes my neighborhood therefore my house?

Well, here you will find some information about this event.

What are the general rules relating to who bears the risk of loss in a real estate transaction where a fire or other natural disaster, strikes the property?

If the purchase contract between the buyer and seller does not state who is to bear the risk of damage or loss to the premises during the time between the execution of the contract and the transfer of title, the liability of the parties is governed by the California Uniform Vendor and Purchaser Risk Act (Cal. Civ. Code § 1662). Under the provisions of this statute (assuming no fault on the part of the buyer), the risk of loss or damage to the premises is carried by the seller until the buyer receives either title or possession. (Note: C.A.R.'s Residential Purchase Agreement and Joint Escrow Instructions, Standard Form RPA-CA, revised 10/02, do not dictate how risk of loss is allocated between a buyer and a seller.)

If all or a material part of the premises are damaged before title or possession is given to the buyer, the buyer can cancel the contract and recover any portion of the purchase price paid. It is not clear whether the buyer can alternatively elect to enforce the contract with a reduction in the purchase price equal to the loss of value or cost of repair.  (Cal. Civ. Code § 1662.)

After the buyer has taken possession or has received title, the buyer bears the risk of loss or damage to the premises (assuming no fault on the part of the seller). Therefore, if the premises are damaged, the buyer must still complete the contract and pay the balance of the purchase price.  (Cal. Civ. Code § 1662.)

If the purchase contract does contain a risk of loss provision, that provision will govern to the extent it is different from or more specific than the Uniform Vendor and Purchaser Risk Act (Uniform Act) (Cal. Civ. Code § 1662).

Hello My Fellow Colleagues,

It is very common in California and I'm assuming in other states, that a lot of Real Estate Agents are now doing Modifications, is this legal? Are we as Realtors entitle to do Modification Services?

This is what I think, we should all understand our function as Realtors, people trust on us, people deposit their hopes when they talk to a Real Estate, and we should always remember that.

Even though the documentation and the department that deal with this king of request is the same with the lender "Loss and Mitigation" I would recommend to all the Real Estates interested in becoming a "Modificator" to read the new RESPA regulations and if possible to partner with an Attorney for at least the begining, until you gain real knowledge and confidence on how to present the entire paper work.

A real good modification takes a lot of time, efforts and dedications, I've come across to a lot of "modificators" just making things worst.

At the end, if we do our diligencies, people will be thankful and if we don't get a comission for a modification, we will get a referral and you will have that client for life.

Your comments and opinions are highly appreciated.

Thank you