Forum Replies Created
-
AuthorPosts
-
SD Realtor
ParticipantHarry if you guys are negotiating the lease outside of escrow then I understand. Please understand something though, and this is really between you and your agent and the others in your transaction, what you guys are doing may be problematic depending on how your buyer documented the residential purchase agreement. If your buyer marked on the residential purchase agreement that the home was going to be owner occupied, then… well needless to say more. I am not here to lecture you or anyone else, I would just urge you to be cautious and careful. With regards to the lease, like DR said above, do it all after the close of escrow.
SD Realtor
ParticipantHarry if you guys are negotiating the lease outside of escrow then I understand. Please understand something though, and this is really between you and your agent and the others in your transaction, what you guys are doing may be problematic depending on how your buyer documented the residential purchase agreement. If your buyer marked on the residential purchase agreement that the home was going to be owner occupied, then… well needless to say more. I am not here to lecture you or anyone else, I would just urge you to be cautious and careful. With regards to the lease, like DR said above, do it all after the close of escrow.
SD Realtor
ParticipantHarry this should all be spelled out for you by your realtor. It should be very clearly defined by either your purchase agreement or by necessary addendums to the purchase agreement.
One method that is generally used is that a standard lease is drawn up by the new owners and you sign that lease as a tenant. The security deposit can be delivered from escrow to the new homeowner (as it is essentially deducted from your proceeds) and so can the first months rent.
This protects everything such that nothing becomes effective until you actually become a tenant.
SD Realtor
ParticipantHarry this should all be spelled out for you by your realtor. It should be very clearly defined by either your purchase agreement or by necessary addendums to the purchase agreement.
One method that is generally used is that a standard lease is drawn up by the new owners and you sign that lease as a tenant. The security deposit can be delivered from escrow to the new homeowner (as it is essentially deducted from your proceeds) and so can the first months rent.
This protects everything such that nothing becomes effective until you actually become a tenant.
SD Realtor
ParticipantHarry this should all be spelled out for you by your realtor. It should be very clearly defined by either your purchase agreement or by necessary addendums to the purchase agreement.
One method that is generally used is that a standard lease is drawn up by the new owners and you sign that lease as a tenant. The security deposit can be delivered from escrow to the new homeowner (as it is essentially deducted from your proceeds) and so can the first months rent.
This protects everything such that nothing becomes effective until you actually become a tenant.
SD Realtor
ParticipantHarry this should all be spelled out for you by your realtor. It should be very clearly defined by either your purchase agreement or by necessary addendums to the purchase agreement.
One method that is generally used is that a standard lease is drawn up by the new owners and you sign that lease as a tenant. The security deposit can be delivered from escrow to the new homeowner (as it is essentially deducted from your proceeds) and so can the first months rent.
This protects everything such that nothing becomes effective until you actually become a tenant.
SD Realtor
ParticipantHarry this should all be spelled out for you by your realtor. It should be very clearly defined by either your purchase agreement or by necessary addendums to the purchase agreement.
One method that is generally used is that a standard lease is drawn up by the new owners and you sign that lease as a tenant. The security deposit can be delivered from escrow to the new homeowner (as it is essentially deducted from your proceeds) and so can the first months rent.
This protects everything such that nothing becomes effective until you actually become a tenant.
SD Realtor
ParticipantExcellent answers from the above posters and I would agree with all of them. From my view I believe the demand for Pt Loma is stronger then Mission Hills. I think you will find Mission Hills depreciating quicker then Point Loma in the overall race down the hill. Point Loma is super sticky and has more demand overall then Mission Hills and I don’t see that changing.
SD Realtor
ParticipantExcellent answers from the above posters and I would agree with all of them. From my view I believe the demand for Pt Loma is stronger then Mission Hills. I think you will find Mission Hills depreciating quicker then Point Loma in the overall race down the hill. Point Loma is super sticky and has more demand overall then Mission Hills and I don’t see that changing.
SD Realtor
ParticipantExcellent answers from the above posters and I would agree with all of them. From my view I believe the demand for Pt Loma is stronger then Mission Hills. I think you will find Mission Hills depreciating quicker then Point Loma in the overall race down the hill. Point Loma is super sticky and has more demand overall then Mission Hills and I don’t see that changing.
SD Realtor
ParticipantExcellent answers from the above posters and I would agree with all of them. From my view I believe the demand for Pt Loma is stronger then Mission Hills. I think you will find Mission Hills depreciating quicker then Point Loma in the overall race down the hill. Point Loma is super sticky and has more demand overall then Mission Hills and I don’t see that changing.
SD Realtor
ParticipantExcellent answers from the above posters and I would agree with all of them. From my view I believe the demand for Pt Loma is stronger then Mission Hills. I think you will find Mission Hills depreciating quicker then Point Loma in the overall race down the hill. Point Loma is super sticky and has more demand overall then Mission Hills and I don’t see that changing.
SD Realtor
ParticipantYep the ratio did go up bigtime. I think that many in CV are just insane with some of those asking prices. I see the biggest drops coming from homes priced over 800k of which there are alot of them. It will happen with some of the big here and there drops over this year. I still think it will take awhile until all resellers figure it out.
It’s a slow train.
SD Realtor
ParticipantYep the ratio did go up bigtime. I think that many in CV are just insane with some of those asking prices. I see the biggest drops coming from homes priced over 800k of which there are alot of them. It will happen with some of the big here and there drops over this year. I still think it will take awhile until all resellers figure it out.
It’s a slow train.
SD Realtor
-
AuthorPosts
