Forum Replies Created
-
AuthorPosts
-
tugg49
ParticipantTop Hat Tax Service.. Darryl has been doing it to it for a decade now! Home sales/purchases/Stocks/Rentals/Tax Delinquency settlements. He’s networked with the tax folks.
ParticipantJust signed the docs.
Close on Monday.
Occupant has packed and house is empty.
Agent did a great job.
Bank says no extension. Deal is dead if it doesn’t work.
It worked. Moving in next week.
Got a lot of info on the the tax forgiveness.
Any piggie give accurate info about the tax forgiveness details when you short sale. What I heard told me that if I was upside down I’d bail and wait three years for credit remedy and move on.
Am I off the mark?
THANKS PIGGIES IT WORKED!!!!!!!!!!
132 bucks a s/f….argue with that!ParticipantReply to all here.
First thanks for pointing out the property tax in two weeks.
Second I’m in the unincorporated part of Salinas and it’s a house that is similar to our house in San Diego. Carpeting and Granite countertops. Monterey seems to be in love with hardwood floors and tile tops.
Third A house in Monterey proper at 450k is an all cash offer contender and not very accommodating to VA. We’ve looked for over a year…every Saturday and Sunday we were house shopping. This is IT.
Fourth, the “tenant” is out. We won’t close until the locks are changed and her possessions are gone.
Fifth, the wife will be working at a Hospital off 101 and her commute from Monterey will be awful. From North Salinas it will be bearable I’ll take the hammer and deal with the commute in the evening.
Thanks for all the pointers and flags. I’m not into defending myself and “justifying ” my position. I read one post that wanted to know what a short sale was like and just wanted to present the reality of one short sale.
Looking back I believe a buyers agent would have kicked this deal to the curb especially after the commission cut. Under a million here is busy work for a realtor.The folks in the office support my views. Monterey proper is a tough market at our salary range.
We were going to buy a house in Seaside for 395K and it was over 300 bucks a s/f. Flippers!
Key money is just one of the last minute traps you have to deal with. The owner could very well let it go to foreclosure. That would be a bitter pill for a couple of grand. Thanks for all the advice and guidance. Be gentle piggies…and Happy Holidays.ParticipantYou walked through the downtown sermon/tattoo territory with sponge covered headphones and a cassette tape in your walkman. Steve West was a kid???
ParticipantANPAC is the best around for the auto/homeowner package. I’ve never used my homeowners insurance. Get floodstop for your washer and second floor faucets at least. All the other little crap pay out of pocket and next time be more careful. Water is your nemesis. His friend MOLD is a monkey on your “anything to disclose” back.
Good Luck and after 30 years of California real estate I can say “you have an interesting journey ahead of you!”ParticipantHere’s what I’ve gleaned from the realtor. The house went into escrow in Feb and then fell thru. In July we found it and actually met the owner the day we made the offer. She told the realtor she wanted us to have the house. (I had a RE license before and a rule I heard was you never let the owner meet the buyer). But in a short sale the owner is the bank and the “resident” needs to “qualify” for a short sale.
In this case it was the death of the husband. Still shakes me to think of the toll this taking on the wife. Reality really isn’t fair.
She signed the paperwork and the realtor presented it to the negotiator…which changes every offer (I think). He is an experienced short sale realtor…WHICH IS A MUST! He still talks smack about the last offer he got shirked out of because of the phase of the moon and it’s effect on the negotiator. Don’t talk to the rookies if you love the house…you’ll be pissed. Cause rookies will F it up. I was up front about VA as well and the REA was a vet so he had compassion. Seriously the REA didn’t care anymore he just wanted a buyer and a seller to be happy.
I had worked another offer with a mortgage broker and she had all my qual info in standby. It was quick when my REA met my broker. It was quick with a few doc updates and a presentation to the bank and maybe a month later the bank gave us approval…..great email day that was!!!!
So we got the appraisal.(BTW in Monterey County there is only one VA appraiser and it can take up to a month for an appraisal). Off season…took a week. We did everything by the book and the VA appraiser, home inspector and all involved gave it green light. So we built a fire in the fireplace, popped some MORE wine and waited. When can we tell the landlord(tonite I called). We were supposed to close by the 15th…signed an extension to the 1st. Friday night and silence! Sleep tonite will be alcohol induced..again. UNTIL YOU SIGN THE PAPERS YOUR WORLD WILL NOT BE A COMFORTABLE PLACE!! This is not an overstatement! My realtor told me about the last deal….it didn’t go well.
THEN WITH THIS DEAL….the bank tells him he will only get 3% commission. He didn’t care. It wasn’t about the money. He wanted a widow and a happy couple to make a life bearable. I have total respect for the guy. He’s impeccable.What you should do….make an offer on a house you might want….go through the paperwork drill and don’t fax or email thing. DO IT ALL IN PERSON. Get a working relationship with the person that presents your paperwork. If you are uncomfortable find somebody else. The short sale paperwork has to be BULLETPROOF! NO DEPOSITS OR QUESTIONABLE TRANSFERS. Lots of cash(5 figures) in the bank and a six figure retirement savings helps. I’m no rich guy just an average guy doing an average job.
Be generous with your money. If the realtor calls and says he’s got a guy that’ll do the work for 500 bucks tell him to go ahead and bring him a check for the work. TRUST! My loan is for 450K. I’ve got 5K for the tip jar.
BUT until this is over the deal isn’t done. I’ll let you know when we sign the papers…are you able to cope with that stress? It’s all about the kitchen and the garage and a nice deep tub to soak in! Hope this helps and have a happy holiday season.ParticipantActually I’m an ex-San Diegan. I left the rat race and moved to Monterey.
The home is a short sale and at the peak it was refi-ed for 1.2 million. I got it for 450K. 3300 sf on an acre of land in a gated community. 10 years old. TWO furnaces!! Lots of short sales up here if you can stand the 6 month wait. But for 3.75% I can wait a long time. 132 bucks a SF. Can’t beat that!
The market up here is lively! All houses we liked were bought by cash offers in less than a week. Can’t compete in Monterey.
The working stiff has to commute from the outer regions but it’s still only 20 minutes on four lane highways. Get to watch the surf roll in most of the way.ParticipantJust closing on a short sale and the Bank cut the agents commission to 3%. He’s sick of this 8 month slog. Treat him well. He stands to make little on the sale.
ParticipantI left San Diego after nearly 30 years of off and on living. I moved to Monterey and really enjoy the slower pace. San Diego is for youth like back in 81 when I was 25. 1981 was a lot different. Larry Himmel was mocking Tierrasanta and Poway….North country. It was time to leave. Consolidation of the Military was a big change. Criminal conduct on hte streets was the next. Just what the missus and I saw as offensive behavior on the streets that was the new norm. We rarely ventured out at night.
In CenCal we enjoy the bay area. Monterey isn’t exactly slacker territory either. The weather season is nice too. You’ll notice the lack of sprinkler systems. The Mofo’s in Socal are STEALING our water.
Food is delicious too. All of us seem to love the wine and food. So many good resturaunts to eat at. I’m a burrito fanatic and the Mexican groceries up here are killer. Field workers are a hardy bunch. If we miss San Diego we go to Wal-Mart and the mall to people watch. It’s much more relaxed….AND THAT’S THE HARD PART…..just slowing down and enjoying the “vibe”. I miss San DIego’s weather and we visit often but I’m not liking coming over the grapevine and listening to the radio’s change in attitude. The last time we visited I swore to my wife we were right for leaving. One saying I had that really has hit home was in San Diego you were on an island….LA on the north Desert to the east and Mexico to the south. Of course the ocean to the west if you could get there without the shakedown by the coast guard and the navy. Monterey Bay is killer. AND I can go north to the redwoods or SF East to Yosemite, Tahoe, Wildlife refuges, and South on 1 to well south on 1! Good Luck to you and I know the San Diego memory will be a special time in your life. You just outgrow it. BTW I’m from Iowa and love Minnesota and Illinois and Missouri. I consider my life a success with my life in San Diego. Just ready for a new kind of adventure!ParticipantI left San Diego after nearly 30 years of off and on living. I moved to Monterey and really enjoy the slower pace. San Diego is for youth like back in 81 when I was 25. 1981 was a lot different. Larry Himmel was mocking Tierrasanta and Poway….North country. It was time to leave. Consolidation of the Military was a big change. Criminal conduct on hte streets was the next. Just what the missus and I saw as offensive behavior on the streets that was the new norm. We rarely ventured out at night.
In CenCal we enjoy the bay area. Monterey isn’t exactly slacker territory either. The weather season is nice too. You’ll notice the lack of sprinkler systems. The Mofo’s in Socal are STEALING our water.
Food is delicious too. All of us seem to love the wine and food. So many good resturaunts to eat at. I’m a burrito fanatic and the Mexican groceries up here are killer. Field workers are a hardy bunch. If we miss San Diego we go to Wal-Mart and the mall to people watch. It’s much more relaxed….AND THAT’S THE HARD PART…..just slowing down and enjoying the “vibe”. I miss San DIego’s weather and we visit often but I’m not like coming over the grapevine and listening to the radio change in attitude. The last time we visited I swore to my wife we were right for leaving. One saying I had that really has hit home was in San Diego you were on an island….LA on the north Desert to the east and Mexico to the south. Of course the ocean to the west if you could get there without the shakedown by the coast guard and the navy. Monterey Bay is killer. AND I can go north to the redwoods or SF East to Yosemite, Tahoe, Wildlife refuges, and South on 1 to well south on 1! Good Luck to you and I know the San Diego memory will be a special time in your life. You just outgrow it. BTW I’m from Iowa and love Minnesota and Illinois and Missouri. I consider my life a success with my life in San Diego. Just ready for a new kind of adventure!Participantsell Louisiana back to the french!
Participantsell Louisiana back to the french!
Participantsell Louisiana back to the french!
Participantsell Louisiana back to the french!
-
AuthorPosts